Probate and Estate Administration

Probate sounds like another confusing legal term. Technically, probate is permission from the court that a Will is valid and that an executor can begin the process of administering the estate in line with the Will instructions. In general, before you can act as an executor of a Will, probate lawyers can assist you in applying for a Grant of Probate. However, the necessity depends on the value of an estate.

Why Do You Need a Grant of Probate?
A Grant of Probate is the first official step in the estate administration process.
A number of professional organisations might refuse to cooperate with an executor without a Grant of Probate. For example, banks, insurance companies and superannuation funds often require probate before they will release or transfer assets for you to distribute.

What You Need to Know about the Probate Process:
• The grant officially acknowledges that the Will is valid and that as executor, you have the right to carry out the administration of the estate.
• The process is not as simple as merely completing a form and paying a fee.
• Complexity increases with certain types and location of assets owned by the deceased.
• Often, it is not an easy exercise to obtain and produce the necessary Court documents.
• If every one of these documents is not completed according to stringent legal requirements, the Court will almost certainly requisition your application.
• It is not advisable for the executor of the deceased estate, to go through the Probate Process without any assistance.

Administering an estate can also be a complicated process. Various gifts may have to be made, perhaps to charities or maybe a testamentary trust has been set up by the Will which will require careful examination. There may be issues with the preparation or storage of the Will that make the process more difficult.

If there is no Will then a grant of Letters of Administration may be required instead of a grant of Probate.

If you would like to find out more about probate and estate administration or to know more about your rights and options, you can email us at info@straitslawyers.com or call at 08 8410 9069 to find out more.

Alternatively, if you would like to prepare a Will, Straits Lawyers are now offering an online package for Advance Care Directives and Wills. Simply purchase our package via this link: https://straits-lawyers.square.site/product/will-and-advance-care-directive-package-/13

Please note that this article does not constitute legal advice and Straits Lawyers will not be legally responsible for any actions you take based on this article.