At Utopia Tax & Accounting, we understand that the period following the death of a loved one is a stressful and upsetting time. To ease the stress, we provide a range of services aimed at making the estate windup process a smooth experience and removing the burden from you.

We work internally with our financial advisers and accountants, as well as with our trusted external consultants, such as lawyers, to provide professional assistance in managing and winding-up estates. Our estate management and windup services are tailored to each client, ensuring that all your needs are met.

Our estate management and windup services include:

  • Completing probate applications
  • The option of having us act as the executor of the estate
  • Winding up investments
  • Identifying beneficial interests, and providing advice to beneficiaries as needed
  • Holding up-to-date copies of wills and enduring power of attorney
  • Developing strategies for asset protection, including the setup of protective trusts. We can also act as the administrator of the trust
  • Finalising estate tax returns
  • Ascertaining and responding to the beneficiaries needs
  • Determining assets and liabilities, and preparing an accurate schedule and valuation of assets that includes cash, personal effects, property, investments, debts owing and payable, and business interests.
  • Administering and finalizing the estate
  • Providing accounting and taxation information to the beneficiaries and their accountants
  • Establishing trusts for long term beneficiaries such as minors
  • Windup of Self-Managed Superannuation Funds
  • Amending SMSFs, trusts and companies to reflect changes to shareholding, directors, and trustees.
  • Providing advice and guidance to estate executors and beneficiaries
  • Liaising with the Australian Taxation Office on behalf of the estate
  • Advising on the estate’s withholding tax obligations

Our services aim to minimize the stress and lengthy delays by simplifying the taxation component of the estate administration, resulting in a simply and quick resolution of estate distributions to beneficiaries.

For those who want to start planning their estate, our Financial Advisory (hyperlink to estate planning) team is well equipped to provide you with advice and direction to set your estate up in a cost and tax effective way, so that you can take care of your loved ones after you’re gone. Having a well set up estate, including a well written will, can make estate management and windup a quick and smooth process.

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