What is Probate?
What is Probate?
A Grant of Probate is a document issued by the Supreme Court after you pass away, which confirms the validity of your Will and legally appoints your Executor to manage and finalise your Estate.
Your Executor will be required to obtain a Grant of Probate from the Supreme Court if, when you pass away, you own property in your own name, have bank accounts with a value of more than approximately $30,000.00, have shares valued at more than $50,000.00 or have superannuation which is going to be paid to your Estate.
After the Grant of Probate has been issued, your Executor can then manage and finalise your assets, pay your debts, finalise your taxation obligations and distribute the balance of your Estate to your named beneficiaries in accordance with your Will.
The process of obtaining a Grant of Probate is far simpler than the process to obtain a Grant of Letters of Administration from the Supreme Court if you pass away without a Will.
Our team of Estate Planning lawyers are all experienced in obtaining a Grant of Probate and can assist your Executor with finalising your Estate in a manner that is time effective and stress free.
For more information on Probate contact Krystle Wolthers