What is Probate and How Does the Process Work?
Understanding Probate
Probate is the legal process that validates a deceased person's will, giving the executor authority to distribute the assets as directed. Overseen by the Supreme Court of New South Wales, probate is necessary when a person passes away with property (real or personal) in New South Wales. Without this grant, executors lack the legal authority to manage or distribute the estate.
Steps in the Probate Process
Initial Consultation and Instructions: The process starts with gathering information about the deceased, including the original will, death certificate, and asset details. An executor typically engages a lawyer to streamline the application process.
Publishing a Notice of Intent: A notice is published online, stating the intention to apply for probate. This notice must be available for at least 14 days before proceeding.
Court Filings: The executor files a summons for probate and an affidavit with detailed information about the will, the executor's role, and the deceased’s assets and liabilities. This step includes submitting the will and other documents to the court for validation.
Handling Court Requisitions: Occasionally, the court may ask for further information or corrections, known as requisitions. Addressing these requests is vital for a smooth process.
Grant of Probate: Upon approval, the court issues the probate grant, allowing the executor to administer the estate—collecting assets, paying debts, and distributing the remaining property as per the will.
Why Probate is Important
Probate grants formal, legal recognition of the executor’s role, providing clear authority to settle the estate in line with the deceased’s wishes. This process is essential to prevent unauthorized access to the deceased’s assets and ensures the fair distribution of their property according to the law and the will.