Whether or not Probate is required depends on the nature and value of the deceased’s assets.
If the deceased held land in their sole name or as a Tenants In Common with another, Probate will be required.
Financial institutions, superannuation funds and share registries may also require Probate for larger investments before they will allow those assets to be dealt with. Generally they will require Probate if the amount held with them is greater than $30,000.
What is involved in obtaining a Grant of Probate?
- ascertain assets and liabilities;
- file an online Notice of Intention to make an application for Probate;
- 14 days after the date of publication of the notice of intention send Summons, Grant, Affidavit of Executors, original Death Certificate, Inventory of Property, and original Will to the Supreme Court for filing.
It takes the Supreme Court approximately 6 weeks to issue a Grant of Probate. Once the Grant has been obtained the Executor/s finalise the estate assets and liabilities and distribute to the beneficiaries.
If a person dies without a Will, or with a Will but with no living Executor, the same process applies however grant is called Letters of Administration.
The solicitors at Everingham Solomons have the knowledge and experience to assist you in obtaining grants and estate administration and distribution because Helping You is Our Business.
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