🇦🇺Australia

Verzögerte Nachlassauszahlung durch fehlerhafte oder unvollständige Inventare

4 verified sources

Definition

Executor guidance notes that failing to obtain reliable figures can stall probate if the Supreme Court questions the Inventory of Assets and Liabilities, and emphasises that courts prefer written valuations and may request proof if valuations appear unsupported.[1] Estate administration resources stress the need to review all captured items, ensure no items were missed or duplicated, and hold documentary proof of value at date of death to finalise the inventory.[4][5] When the Registry issues requisitions for missing or unclear information, executors must gather additional documents and valuations, extend professional engagements and incur further holding costs on properties and unpaid liabilities. For a typical estate of AUD 500,000–1,000,000, each additional month of delay can cost AUD 1,000–2,000 in foregone interest or investment returns, plus interim expenses such as rates, insurance and maintenance on real property (often AUD 500–1,000 per month), and can also prolong professional fee accrual.

Key Findings

  • Financial Impact: Quantified: Delays attributable to inventory/valuation defects of 1–3 months are common, implying approximately AUD 1,500–6,000 per estate in combined opportunity cost of funds (0.2–0.4% per month on AUD 500,000–1,000,000) and incremental holding costs on properties; complex or disputed estates may see 6+ month delays with losses exceeding AUD 10,000.
  • Frequency: Common among lay executors unfamiliar with probate forms; particularly pronounced where estates include unusual assets requiring specialist valuations or where documentation is incomplete.
  • Root Cause: Manual, ad‑hoc preparation of inventories; incomplete identification of assets and liabilities; failure to attach or obtain formal valuations; inconsistent valuation dates; misunderstanding of court evidence preferences; lack of pre‑submission validation of forms.

Why This Matters

The Pitch: Trusts & Estates players in Australia 🇦🇺 commonly suffer probate delays of 1–3 months because inventory and valuation data is incomplete or inconsistent, tying up AUD 500,000+ in estate assets. Automation of data capture, validation and document collation can cut weeks off time-to-cash for beneficiaries.

Affected Stakeholders

Executor, Administrator, Beneficiary, Estate lawyer, Probate registry staff

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Financial Impact

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Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

Übersehene oder zu niedrig bewertete Nachlassvermögenswerte

Quantified: Typically 2–10% of gross estate value at risk through missed or undervalued assets; for a AUD 500,000–1,000,000 estate this equates to approximately AUD 10,000–100,000 of potential revenue leakage for beneficiaries, and personal liability exposure of similar magnitude for executors.

Falsche Marktwertansätze mit nachteiligen CGT-Folgen

Quantified: Under‑valuations of 5–15% on real property or share portfolios are plausible without professional valuation; for a AUD 800,000–1,200,000 property, a 10% understatement (AUD 80,000–120,000) can increase beneficiaries’ CGT by approximately AUD 26,000–56,000 per sale. Across an estate with multiple assets, additional tax leakages of AUD 20,000–100,000 are realistic.

Überhöhte oder doppelte Bewertungskosten im Nachlassverfahren

Quantified: Typical avoidable overspend of approximately AUD 1,000–3,000 per estate in redundant valuation work (e.g., one extra full property valuation plus repeated jewellery or business valuations); larger or more complex estates may incur AUD 3,000–5,000 of unnecessary fees.

Steuer- und Haftungsrisiken durch fehlerhafte Nachlassbewertungen

Quantified: Typical downside range of AUD 10,000–30,000 per affected estate, comprising tax shortfall penalties and interest of approximately AUD 5,000–15,000 plus legal/advisory costs of AUD 5,000–15,000 in the event of ATO or state revenue review triggered by incorrect valuations.

Trust Accounting Compliance Penalties

AUD 2,330+ fine per late lodgement (unit penalty AUD 2,330 as per Uniform Law); 15+ hours annually for Part B preparation per practice

ATO Trust Tax Return Non-Compliance Fines

AUD 222 base failure-to-lodge penalty per 28 days (up to 5 units); 20-40 hours annually for manual financial statements

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