The Supreme court of Australia makes an order known as the probate that validates the deceased’s will and allows the executor to distribute the estate according to what is mentioned in the testator’s will.
The executor must apply for a probate in Queensland in cases where the deceased is the sole owner of a real estate, have tenants in common with other people and if any asset in the will cannot be transferred without a probate as the estate cannot be distributed until you are granted probate by the Supreme Court.
You must apply for the probate within 6 months from the date of death until and unless there is a valid reason for a delay. Also, you would require to have a letter of administration in place of a probate in the absence of a will.
Moreover, the beneficiaries are supposed to apply for letter of application with the will annexed if the appointed executor has died or is unwilling to perform his/her duties.
This blog will help to answer some of the most common and frequently asked questions regarding the application of probate to make your quick and easy.
What do you mean by the Grant of Probate?
The Supreme Court issues a Grant of Probate which includes a cover page, a copy of the deceased’s last will and an inventory of their entire property. The executor would have the right to deal with the estate and pay all the debts and liabilities of the testator once the grant is signed by the Supreme Court.
The application process would ensure that the will is valid, verifies the identity of the executor and informs about all the assets and liabilities of the testator.
Often a copy of the Grant of Probate is request by various organizations and departments before they decide to communicate with the loved ones of the deceased.
What is the cost of Probate?
The cost of probate in Australia comprises of different types of fees such as a court filing fee and the fee of the lawyer. However, there are three major costs of probate:
Supreme Court of Australia filing fee:
There will be a fee charged for the application of grant which would correspond to the gross value of the entire estate owned by the deceased.
Grant advertising fee:
the advertisement cost for the application of probate or the letter of administration or reselling in Australia is nearly for around $24.
Probate solicitor fee:
There is a fee that has to be paid to the solicitors or probate specialist banks for administering the estate of the deceased which ranges between 2.5-5% of the value of the estate.
Is it necessary to have the Grant of Probate?
You are most likely to attain a probate in cases where your family members or loved ones holds assets and accounts with organizations that mandates you to have a probate.
The organizations that mostly ask for probates are:
- Banks and other financial intermediaries.
- Nursing care centers and age care providers.
- Computer shares.
- Various other share registries.
However, the Supreme Court in Australia doesn’t mandates the executors to have a probate.
How long does the process of probate take?
The process of application of probate by the Supreme Court in Australia can take around 2-6 weeks depending the amount of pending work and the complexity regarding the application.
The grant would be immediately issued once all the requisitions have been answered and the examiner gets satisfied with all the requirements under the application are fulfilled.
After the grant has been issued, you would receive a notification and then you can download the electronic document.
Where am I supposed to locate the last will?
Wills can be kept anywhere as there is no central register in Australia however, in most of the cases, the will drafting solicitor will possess the original last will or its copy. Also, organizations such as banks and accountants might be having a copy of the will.
Therefore, it is essential to properly check all the documents of the deceased as the process of application might get delayed due to the failure of locating the will.
When do you consider a will as valid?
The will is considered to be valid if it’s in writing, signed in front of 2 or more witnesses on each page, it is dated and intended to be a will.
You can still obtain a probate in case of an informal will that doesn’t satisfy the above criteria.
What if there is no will?
An absence of will would not provide you the access to the grant of probate however, you can still apply for the Letter of Administration. In this case, the nominated administrator gets the power to administer the estate just like the executor that obtains a probate by the Supreme Court.
Do the executors get paid?
The testator at times drafts provisions for providing extra entitlement to the assigned executors for the extra efforts and pains they take for such tasks regarding the administration of their estate.
Hence, it is always advisable to apply for a probate by appointing a legal consultant in Queensland that will make sure that the correct procedures are followed. So, let us at Probate Consultants help you with the process of probate at the most affordable prices who would ensure that the application is carried out easily and efficiently without any delay.