That is a very interesting question and one that depends on several things. In NSW, an Act of Parliament called the Succession Act, 2006, sets
There is something about Wills that sometimes brings out the worst side of human nature. Wills have the power to divide even the closest of
If a person in New South Wales dies leaving a valid Will, then the Executor nominated in the Will may apply to the Supreme Court of New South for a “Grant of Probate”.
Probate has nothing to do with “death duties”, which were abolished in NSW and Federally in the late 1970’s and early 1980’s.
For the Supreme Court to have jurisdiction to issue a Grant of Probate, there must be assets owned by the deceased within New South Wales.
A Grant of Probate appoints the Executor named in the Will with the power to deal with estate assets such Bank accounts, Aged Care Facility refundable accommodation deposits, shares in companies, transfer of the title to real estate, or any other assets of the deceased. The Executor is then able to pay the estate debts and distribute the balance of the estate to the beneficiaries nominated in the Will.
At Will Lawyers Central Coast we are one of the most experienced Probate Lawyers. We have been servicing the local Central Coast community for over 40 years.
Sometimes there is a valid Will, but no Executor. This sometimes occurs if the Executor died before the deceased, or the Executor has lost capacity, cannot be found, or may even have “renounced Probate”, indicating that they are not prepared to accept their appointment as Executor under the Will and will not apply for a Grant of Probate.
In that case, one of the beneficiaries under the Will can apply for what is known as a Grant of “Letters of Administration with the Will Annexed”. The “Administrator” to whom the Grant is issued is then empowered to distribute the estate assets in accordance with the provisions of the Will rather than pursuant to “the rules of intestacy”. Our Team of Probate Lawyers will be able to guide you step by step process to apply for Grant of Probate.
In applying for probate, there are certain procedures that must be followed, and the proposed Administrator must prepare and file with the Court –Once the Summons for Probate and supporting documents are prepared, signed and forwarded to the Supreme Court for filing, it takes approximately 4 weeks for the Court to process and issue the Grant of Probate.
That said, however, obtaining a Grant of Probate is only the first step in administering the Estate. Once the Grant is issued by the Court, the Executor will need to produce the Grant to entities where assets are held and then gather in those assets, pay estate debts (including if necessary the completion and lodgement of income tax returns and the payment of outstanding taxes), before being able to distribute the assets to the beneficiaries entitled under the Will.
The time taken to administer an Estate can vary greatly depending on the size of the Estate and the complexity of the Will.
If there is real estate property to be sold, the Estate Lawyer can also arrange for the preparation of the Contract for Sale and afterwards distribute the net sale proceeds to the beneficiaries of the estate.
Call Geoff Brazel now on 4324 7699.
On 20th November 2023, our office will relocate to Suites 5 & 6, Fountain Plaza, 148-158 Central Coast Highway, Erina.
Our telephone number, email address & website willl remain unchanged.