What does an executor need to do after probate is granted in Australia?

Once probate is granted, that's when the real administrative work begins. The executor must collect and value all assets of the estate, complete any final tax returns of the deceased, consider the taxation implications of the sale of any assets or whether they should be distributed in specie to the beneficiaries. Prepare a statement of accounts detailing the income and expenditure, detailing the receipts and outgoings from the estate, completing any estate tax returns, and attending to the distribution of the estate. Remember, executors carry personal liabilities for any mistakes that they make. So, it's important to get professional assistance with the administration of an estate.