As a commonly used term during estate administration is it important you understand Probate and what it means. Our friendly staff is here to guide you through this difficult time and ensure you are well informed during the proceedings. To find out more about Probate and estate administration contact our experienced staff on 1300 580 413
What is Probate and what does it mean?
Probate is the Supreme Courts recognition that a will is legally valid. While probate isn’t always a prerequisite to estate administration, there are instances where it may be required. For example, organisations such as banks and shares registries may need to sight a grant of probate before releasing estate assets.
Types of grants:
- Grant of probate – This form of grant exists where a will has been validly constituted and the person applying for probate is listed as the executor of the will.
- Grant of letters of administration of the will – This grant exists where there is a valid will, but someone other than the executor is seeking probate. In this instance, the authorised person will be an administrator.
- Grant of letters of administration on intestacy – This grant arises where this is no valid will. The authorised person will be an administrator and the entire estate will be governed in accordance with the intestacy rules.
It is also important to note that where another state grants the probate but the assets to the estate are found in Queensland, it may be necessary to reseal the grant.
Do I need probate?
There are a number of circumstances in which probate is not required. These include instances in which:
- The value of the assets is relatively small
- The real estate is to be transferred to a beneficiary named in the will
- You have to sell real estate
Who can apply ?
Before probate is granted, a court must be satisfied that it is being sought by the appropriate person – that is, the person who is recognised as the personal representative of the estate.
Your specialist probate lawyers in Brisbane
At Qld Estate Lawyers, we have a team of experienced lawyers on hand and ready to answer all your questions.