Deceased Estates: What is Probate?

Obtaining a
Grant of Probate for a Will involves making an application to the Supreme Court
of Queensland for an order that the Will is legally valid and the last known
Will of that person.  It provides the executor
with authority to perform their role and administer the estate. 

As the executor
of a deceased estate, you may need Probate before you can take control of the
estate’s assets (also known as administering the estate). 

In some
circumstances a Grant of Probate is not required such as:

1. the value of the assets is
   relatively small (e.g. a small bank account);
2. the real estate is to be transferred
   to a beneficiary named in the Will;
3. you have to sell real estate.

It is
important to always check with the organisation that you are seeking to obtain
money or assets from, as to whether or not they require a Probate, as an
application for Probate is often made because an asset holder of the estate has
requested that Probate be produced prior to estate assets being released to the
executor.

Probate
will not be required in every estate, although there are some benefits to executors
in obtaining Probate.  An example of such
a benefit is where Probate is obtained, an executor is protected against any
later claim that the Will is not in fact the last Will of the deceased. 

A Grant of
Probate will not protect against a Family Provision Application where an
excluded beneficiary wishes to seek further provision from the estate.

When assisting the executor of an estate to obtain Probate, we will prepare a compliant notice of intention to apply, advertise in the necessary publication, effect service on the Public Trustee, draw-up affidavit material and apply to the Supreme Court of Queensland on your behalf.  If you have been named as an executor of a Will and would like advice as to whether it is necessary for you to obtain Probate or would like assistance with obtaining Probate then please contact our office.