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What do you need to know about Probate?

Probate is a legal process that validates and formalises the Will of a deceased person. It is the official recognition by a Court that a Will is authentic and legally binding.

A Grant of Probate is required in situations where a deceased person has left a valid Will and appointed an executor to administer their estate. The executor is the person named in the Will who is responsible for carrying out the wishes of the deceased and distributing assets to the beneficiaries. Here are some common scenarios when a Grant of Probate is necessary:

  • Assets held solely in the deceased’s name;
  • Dealing with financial institutions;
  • Selling or transferring real estate; and
  • Challenging claims or disputes.

As an executor in probate, they have specific rights and duties to fulfil while administering the estate. Here are the general rights and duties of an administrator:

  • Rights of an Administrator:
  • Legal authority;
  • Access to estate assets;
  • Engaging professional assistance; and
  • Defend against claims.

Duties of an Administrator:

  • Gathering and inventorying assets;
  • Paying debts and expenses;
  • Distributing assets;
  • Keeping accurate records;
  • Acting in the best interests of the estate; and
  • Complying with legal and Court requirements.

If you are applying for a Grant of Probate, please contact our office and our Estates team will be able to assist you in ensuring your application meets the requirements and is executed in accordance with the law in order to protect the deceased estates assets.