When Do You Need Probate in NSW
When do you need Probate? Probate refers to a legal document that issues from the Supreme Court of New South Wales. The purpose of this legal document is to allow the Executor or Executors named in the deceased’s Will to begin collecting the assets and paying the liabilities of the deceased Estate. Probate allows the Executors to deal with financial institutions and other companies in order to finalise the deceased’s Estate and distribute the assets to the beneficiaries named in the deceased’s Will.
An application for Probate, is required to be made to the Court within 6 months from the date of death of the deceased. Applications can be made after this time, but you will be required to provide to the Court an explanation for the delay. An application for Probate can be quite a procedural process, with advertising requirements, affidavits and application forms. This is why, the majority of Executors will appoint a lawyer to handle the Probate application on behalf of the deceased Estate, to ensure that the application for Probate is made within 6 months of the death of the deceased, as well as ensuring any questions from the Court on the application for Probate are answered quickly and efficiently allowing the Estate to be distributed sooner rather than later.
Obtaining expert legal advice on Probate can also identify any issues with the Will of the deceased, for example whether the Will has been subsequently revoked due to the deceased marrying after the Will was made. Early identification of issues with the Wil,l can be invaluable in ensuring the Estate is administered in the best interests of the beneficiaries.
There are also some circumstances where you may not need to apply to the Court for Probate. This can be when the value of the deceased Estate is not large. Probate may also not be required when the deceased owned assets jointly with another person. Where assets are jointly owned, they will automatically transfer to the remaining owner without any need for Probate.
Before making an application for Probate you should seek expert legal advice from Sydney Probate Lawyer who will handle the legal and procedural matters of obtaining Probate professionally, quickly and expertly.
If you require expert legal advice on a a Probate matter, call our team at Sydney Probate Lawyer, today on 9221 2779 or go to our Booking Page and schedule a time that is convenient to your day! Our offices are conveniently located in Sydney, CBD and close to all public transport!