Understanding A Grant Of Probate For Estate Planning

Obtaining a grant of probate may be required to ensure the executor of your estate can authorise the division of assets after your passing.

What Is A Grant Of Probate?

A grant of probate is the Supreme Court’s recognition of a legally valid Will. A grant of probate is a Court-issued document confirming the validity of a deceased person’s Will and appoints the executor responsible for dividing assets and paying any outstanding debts. This legally binding document facilitates the deceased’s wishes for distributing their assets and debt settlements. 

The Three Main Types Of Grants Are:

1.     Grant of probate of the Will.

2.     Grant of letters of administration of the Will (where there is a clear Will and a non-executor wishes to apply). 

3.     Grant of letters of administration on intestacy (where there is no clear Will in place, and an authorised person wishes to apply). 

Is A Grant Of Probate Compulsory?

Your executor should, after your passing, seek advice from a Wills and Estate Lawyer to assess whether a grant is necessary to avoid any delays in administering your estate. 

 

Some organisations and financial institutions may require your executor to obtain a grant of probate and sight it before releasing the assets of your estate. 

A grant of probate is unnecessary if an asset is in joint names as ownership is already in the surviving joint owner. 

Your executor may not need a grant of probate if the value of your estate is small; real estate must be sold or will be transferred to a beneficiary if that is specified in the Will. 

How To Obtain A Grant Of Probate