Deceased estate

  1. The property and assets of a person who has died.
  2. Part XI of the Bankruptcy Act 1966 contains provisions enabling the insolvent estate of a deceased person to be administered in a way that is similar to a Part IV bankruptcy. Part XI provides for both the administration of deceased estates for persons who are insolvent at the date of death and those deceased estates that subsequently become insolvent because of debts incurred by the legal personal representative of the deceased estate.