What is Probate?
Probate is the name given to the legal process of verifying and registering the last Will of a deceased person in the Supreme Court. When someone has passed, it is generally the Executor of their Will who manages the estate, pays liabilities and distributes assets to beneficiaries. To gain authority to do this, the Executor may be required to obtain a legal document called a ‘Grant of Probate’ to confirm the Will is valid and the person seeking release of assets has authority to deal with them. Once Probate has been obtained, the deceased’s assets will be transferred into the Executor’s name so they may carry out their duties.
Do I need Probate?
There are a variety of factors that need to be considered in deciding whether to apply for Probate. Eden Lawyers can advise you of whether Probate is necessary or relevant to your needs.
Most organisations (e.g. banks, superannuation funds) who hold assets of a deceased person require a copy of the Probate before they will agree to transfer assets to the Executor or beneficiaries. Without Probate an Executor does not have the authority to manage the estate. In certain circumstances, it may not be necessary to obtain Probate and this is dependent on the nature of the assets of the estate.
We will ensure that the Probate procedure is carried out as efficiently and effectively as possible, as we understand this is usually a very difficult time for the family.
How much does Probate cost?
The costs associated with Probate include the application of Probate to the Supreme Court and the professional fees paid to your Legal advisor during the course of the Probate application and administration. As Wills are not always straight forward the costs incurred during this process can vary considerably. Eden Lawyers will assess your circumstance and provide Legal advice and support to best suit your needs during this time. If after your no obligation first consultation you decide to retain us to assist we will help you administer the estate and if possible avoid the costly exercise of obtaining a grant of probate. If the estate has assets that require a grant of probate we can guide you through the maze making the process as stress free as possible. We understand the emotions and pressure on executors during this difficult time and will always be available to answer all of your queries.
Arrange an obligation free consultation with one of our Solicitor’s.