A Grant of Probate is a document issued by the Supreme Court that acknowledges the validity of the deceased’s Will and authorises the Executor/s to administer the Estate.
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 tenants in common with another, Probate will be required.
Financial institutions, superannuation funds, aged care facilities and share registries may also require Probate for larger investments before they will allow those assets to be dealt with. Generally, such institutions will require Probate if the amount held with them is greater than $50,000.00.
What is involved in obtaining a Grant of Probate?
- Ascertain assets and liabilities as at date of death
- File an online Notice of Intention to make an application for Probate
- 14 days after the date of publication of the notice of intention, prepare and file a Summons, Grant, Affidavit of Executors, original Death Certificate, Inventory of Property and original Will with the Supreme Court.
It takes the Supreme Court approximately 4 weeks to issue a Grant of Probate. Once the Grant has been obtained, the Executor/s are entitled to deal with the estate assets and liabilities and distribute the surplus assets to the beneficiaries in accordance with the Will.
If a person dies without a Will, or with a Will but with no living Executor, the same process applies however the grant is called Letters of Administration.
The solicitors at Everingham Solomons have the knowledge and experience to assist you in dealing with a deceased estate because Helping you is Our Business.
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