Probate is not a death duty or death tax. It is an order from the Supreme Court of NSW confirming that the last will of the deceased person is valid. Probate allows the executor to collect the assets and distribute them the way the deceased person wanted.
Probate is not needed every time somebody dies. If all of the deceased person’s assets are held jointly with someone, then normally Probate is not required.
If the deceased person owns any real estate in their own name or as tenants in common with somebody else then Probate is needed for the property to be sold or given to the beneficiaries.
Some asset holders, such as banks, share companies and superannuation companies, want a copy of Probate before they will release the estate assets to the executor.
There are several important steps to follow when trying to obtain a grant of Probate from the Supreme Court. These steps become even more complicated if the deceased person died without a Will or if there is a problem with the Will.
Marriott Oliver Solicitors assists executors and family members through this very difficult time by not only obtaining Probate from the Court, but also by helping to arrange the administration and distribution of the estate assets.
If you would like more information about Probate or a deceased estate in general, or if you need assistance with an estate related matter, please do not hesitate to contact us.
Anne Brown – Marriott Oliver Solicitors Pty Ltd – 2016