Queensland Consolidated Acts

PUBLIC TRUSTEE ACT 1978 - SECT 53

Where the assets available for payment of debts in the estate of a deceased person are insufficient to pay the liabilities in full, the public trustee shall apply the assets in the following priority--

(a) the public trustee shall pay all proper expenses attending the due administration of the estate;

(b) the public trustee shall pay such funeral expenses as the public trustee considers properly payable out of the estate;

(c) the public trustee shall apply the assets available for payment of debts in the same way as if an order had been made for the administration of the estate in bankruptcy at the date of death of the deceased person;

(d) the public trustee shall distribute the remaining assets among the persons beneficially entitled thereto.