Chapter 9 - Deceased estates



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If you are a deceased person's legal personal representative or a beneficiary of a deceased estate, read this chapter to find out about the special CGT rules that apply.


New terms

We may use some terms that are new to you. These words are printed in red the first time they are used and explained in Definitions. Generally they are also explained in detail in the section where they first appear.

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When a person dies, the assets that make up their estate can:

  • pass directly to a beneficiary (or beneficiaries), or
  • pass directly to their legal personal representative (for example, their executor) who may dispose of the assets or pass them to the beneficiary (or beneficiaries).

A beneficiary is a person entitled to assets of a deceased estate. They can be named as a beneficiary in a will or they can be entitled to the assets as a result of the laws of intestacy (when a person dies without having made a will).

A legal personal representative can be either:

  • the executor of a deceased estate (that is, a person appointed to wind up the estate in accordance with the will), or
  • an administrator appointed to wind up the estate if the person does not leave a will.
Last modified: 06 Oct 2009QC 27893