Thanks for your enquiry. Our estate administration lawyers can be in touch within the next business day to assist with your enquiry. If your matter is urgent, please call us on 1300 580 413.
During the assessment process, you stated that you think you might need to get Probate in regards to executor/administration.
A “Grant” (Probate or Letters of Administration) needs to be obtained if bank balances exceeding a sum of around $20,000 (although some banks may have higher or lower limits).
Probate (or Letters of Administration) should also be obtained for large estates with lots of different asset classes or for example shares in various public companies. The grant of probate avoids the completion of other paperwork that can be insisted upon in its absence.
You stated the approximate value of the estate is between . Most banks only require Probate for balances in excess of $20,000.
An executor does not have a legal obligation to tell beneficiaries that they will receive gifts as stated in the will before they are distributed. A formal reading of the will does not commonly occur. If an executor prefers a formal reading, he or she should notify the beneficiaries to attend an appointment with the solicitor appointed by the executor, for that purpose. A beneficiary is entitled to receive a copy of the will upon request.