GRANT OF PROBATE & LETTERS OF ADMINISTRATION
WHAT IS A GRANT OF PROBATE ?
A Grant of Probate is legal document issued by the Supreme Court of NSW to the executor(s) of the estate where the deceased left a will and the will is proved to the satisfaction of the Court to be the last will of the deceased.
WHAT ARE LETTERS OF ADMINISTRATION?
Letters of Administration are legal documents issued by the Supreme Court of NSW to a person(s) or entity (called the administrator) where either the deceased did not have a will, or did have a will but the will failed to appoint an executor.
WHO NEEDS A GRANT OF PROBATE ?
The Executor(s), unless the estate is very small and the Executor(s) beneficiaries agree not to require a Grant of Probate and are prepared to provide an indemnity.
WHO NEEDS LETTERS OF ADMINISTRATION ?
The Administrator appointed by the Supreme Court of NSW if there is no will, or the will fails to appoint an executor. The Administrator in practice is usually the person who has the largest beneficial interest in the deceased’s estate by reason of the intestacy rules (no will) or the will (but no executor appointed). Circumstances may be such that the Court may decide to appoint the NSW Trustee and Guardian.
WHY IS IT NECESSARY TO HAVE A GRANT OF PROBATE ?
Our solicitor will need to submit an application to the Supreme Court of NSW for a Grant of Probate. Until it has been issued no one has authority to deal with the deceased’s estate. They are in effect frozen. In the case of a Grant of Probate, the executor is responsible for collecting the deceased's estate, paying any debts and then distributing the estate to the beneficiaries according to the will.
WHY IS IT NECESSARY TO HAVE LETTERS OF ADMINISTRATION?
Our solicitor will need to submit an application to the Supreme Court of NSW for Letters of Administration. Until it has been issued no one has authority to deal with the deceased’s estate. They are in effect frozen. In the case of a grant of Letters of Administration the Administrator is responsible for collecting the deceased's estate, paying any debts and then distributing the estate to the beneficiaries according to the rules of intestacy which is a statutory order of next of kin. Contact us for a free initial discussion.