What is Probate?
Probate is the Supreme Court’s approval of a deceased’s Will. The Grant of Probate confirms the validity of a Will and the appointment of the Executors.
The application for the Grant of Probate is a Supreme Court application which must comply with the Supreme Court rules.
It is important to first determine whether or not the Grant of Probate is required. A substantial amount of legal fees could be avoided if it is not ideal or necessary to obtain the Grant. Quite often asset holders such as banks and the Land Titles Office will not allow property in the sole name of a deceased person to be transferred without the Grant of Probate.
How can the staff at First Point Legal & Conveyancing help me through the Probate process?
The staff of First Point Legal & Conveyancing have 10 years of experience assisting Executors obtain the Grant of Probate.
We provide plain English practical advice and support to clients as to their responsibilities and duties as Executors so that the estate can be administered promptly and efficiently.
How long does it take to finalise the estate?
Generally speaking, most small estates are able to be finalised within 3 to 4 months from the date we receive the deceased’s Death Certificate. That said, for Victorian estate matters the Executor should not complete the finalisation of the estate until six months after the Grant of Probate and for New South Wales matters, the Executor should not complete the finalisation of the estate until 12 months after the death of the deceased.
We strongly encourage our Executor clients to provide realistic timeframes to anxious beneficiaries. The Probate and estate administration process quite often requires careful consideration, planning and quite a lot of work. The role of the Executor is quite a serious one and accordingly, the Executors should seek to avoid situations whereby anxious beneficiaries are seeking to pressure Executors to distribute the estate too early, as this could lead to the Executor being personally liable for any successful claims against the estate.
Is First Point Legal & Conveyancing able to conduct Probate work for a fixed fee?
Yes, this service is a large part of our work. When the estate’s assets and liabilities are known and it is appropriate for us to do so, we are able to provide a fixed fee agreement for all of the estate work.