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Probate
If
you are an Executor or Executrix we can help you apply for
a Grant of Probate.
It is
important to obtain our experienced legal advice without
delay if you are faced with a dispute between beneficiaries
over the terms of the Will or a challenge to the validity
of the Will.
Clients
generally have a reasonable understanding of what amounts
to a Will but many are not aware of what Probate is, or
when it is necessary. The following questions are answered
to provide you with a general knowledge before consulting
us for more detailed advice.
| We
are able to efficiently assist you with legal
advice to complete all legal documents including
Affidavits and the Statement of Assets and Liabilities
required to apply for Probate or Letters of Administration
(if there is no Will). |
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| What
is Probate? |
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A
Will can be revoked at any time up until the
testator dies. Upon death the Executor takes
up a provisional role. Application is made to
the Probate Division of the Supreme Court of
New South Wales to obtain a grant of official
approval of the Will. This formal legal document
issued by the Court is known as Probate and
confirms:
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the
Will of the deceased, and also |
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the
Executor’s authority to administer
the estate |
Even
if a subsequent Will is discovered the actions
of the Executor cannot be challenged (provided
he has acted in good faith at all times).Obtaining
a Grant of Probate can be of vital importance
in protecting the Executor.
This Grant of Probate is usually a formality
where there is no dispute involved. |
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| Is
Probate always necessary? |
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No,
Probate is not required for very small estates
or where property is held jointly. Individual
banks etc will have a policy for dealing with
the transfer of small accounts without the requirement
for a Grant of Probate. Joint property will
automatically pass by survivorship. |
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| What
happens if there is no Will? |
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If
there is no Will in existence then there will
be no Executor. This is called dying intestate.
Your role may become that of an Administrator.
Application may be made to the Probate Registry
of the NSW Supreme Court for a Grant of Letters
of Administration.This would authorise you to
proceed to administer the deceased's estate
in a similar manner to an Executor. |
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| What
steps do I take as Executor to apply for Probate? |
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| What
can I do if there is a dispute before Probate is even
granted? |
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Action
can be taken by way of a Caveat. By lodging
a Caveat with the Supreme Court this will halt
the Probate process until the Court investigates
the issue. This action should be taken immediately
if for instance the deceased's Will is thought
to be a forgery or the deceased made the Will
under duress or undue influence of others. |
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| Is
the Grant of Probate final or can it be challenged? |
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The
Grant can still be challenged after the Court
has issued the Grant of Probate in Common Form.
A challenge may be made by a person who is 'eligible'
under the the Succession Act 2006 NSW. To be successful
the applicant must be able to show the deceased
did not make adequate provision for them in
the Will to ensure their proper maintenance,
education or advancement in life. If you believe
you may have a claim, contact us as soon as
possible as time limits do apply. |
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| How
much does it cost to file a Probate application? |
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In
New South Wales the following court filing fees
apply. Fees are an expense paid out of the estate.
Fees are calculated on the sworn gross value
of the estate:
| Probate (less than $100,000) |
Nil |
| Probate ($100,000 or more, but less than $250,000) |
$718 |
| Probate ($250,000 or more, but less than $500,000) |
$974 |
| Probate ($500,000 or more, but less than $1,000,000) |
$1,493 |
| Probate ($1,000,000 or more but less than $2,000,000.00) |
$1,990 |
| Probate ($2,000,000 or more but less than $5,000,000.00) |
$3,316 |
| Probate ($5,000,000 or more) |
$5,528 |
| Current
as at 10/10/2016 |
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| What
is the difference between Probate in common form and
Probate in solemn form? |
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The
process of applying for Probate is usually straightforward
and documents are lodged at the Probate Registry.
In this case the document issued is called a
Grant of Probate in Common Form. However if
there is a dispute concerning the Will this
will involve court proceedings to determine
the outcome.The result is then recorded in a
Grant of Probate in Solemn Form. |
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| What
if property was owned by the deceased in more than one
state? |
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Once
the Grant of Probate is obtained there is provision
made under the The Succession Act 2006 NSW to re-seal the Probate in another state
to deal with assets located in that state as
well. |
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| How
long does Probate take? |
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The
average estate can have a Grant of Probate typically
issued within 2-4 months. The more complex the
estate the longer it takes to identify all assets
and liabilities of the deceased. Time guidelines
will be discussed at the outset. The Executor
then proceeds with the administration of the
estate. |
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ExecutorsHelp
can come to you!
We
assist our clients who
are unable to arrange appointments
at our city office by coming to your
office, home, nursing home or hospital.
So to make things just that little
bit easier, phone for an appointment
where it is convenient for you! |
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