Probate is the formal administration of a deceased estate. This involves applying to the Supreme Court for a grant of probate. Either your executor or your solicitor may make an application for probate.
If there is no Will then assets will be distributed in the following order:
- Spouse or defacto spouse
- Brothers and sisters
Dealing with the estate
After obtaining Probate, or alternatively Letters of Administration (where there is no Will) all assets of the estate must be collected, all debts must be paid and then the balance will be distributed in accordance with the terms of the Will.
- Money in bank accounts
- Insurance Policies
- Real property
- Motor vehicles
- Personal items
Each asset may have to be dealt with in a different way.
Creditors usually have to wait until the estate is administered to receive payment.
Probate can sometimes be a lengthy process. Click here for a flowchart illustrating this process.
Contact one of our Solicitors so we can help you make this often difficult time, much easier.