Understanding Probate in New South Wales and the Australian Capital Territory

Probate is a legal process that involves validating a deceased person’s will and administering their estate. The process and requirements can vary slightly between states and territories.

 

Probate in New South Wales

In NSW, the probate process primary purpose is to formally recognise the will of a deceased person as their last testament, allowing the appointed executor to administer the estate according to the will’s terms.

1. Application for Probate:

(i) Eligibility: The executor named in the will, or any interested party, can apply for probate. The applicant must be able to prove that the deceased’s will is valid and that they have the right to act as the executor.

(ii) Required Documents: Include the original will, a death certificate, an affidavit of the executor, and a probate application form and other documents prepared by the estate lawyer.

(iii) Court Process: The application is lodged with the Supreme Court of NSW. If the Court is satisfied with the application, it grants a probate, which gives the executor legal authority to        manage and distribute the estate.

2. Administration of the Estate:

Once probate is granted, the executor can proceed to gather the deceased’s assets, pay any debts and taxes, and distribute the remaining assets to the beneficiaries as per the will.

Executors are required to adhere to fiduciary duties, ensuring that the estate is managed in the best interests of the beneficiaries and in accordance with the will.

 

Probate in the Australian Capital Territory

In the ACT, the probate process for applying for probate and administering an estate are somewhat like those in NSW but have specific local requirements.

1. Application for Probate:

Eligibility: As with NSW, the executor named in the will, or an interested party, can apply for probate. The applicant must demonstrate the validity of the will and their right to act as   executor.

– Required Documents: The application includes the original will, a death certificate, affidavits from the executor, and a completed probate application form.

Court Process: The application is submitted to the Supreme Court of the ACT and if satisfied, it will grant probate, authorising the executor to manage the estate.

2. Administration of the Estate:

Post-probate, the executor must administer the estate by collecting assets, settling debts, and distributing the assets to beneficiaries as specified in the will.

Executors in the ACT are also bound by fiduciary duties and must act in the best interests of the beneficiaries.

 

If you’re an Executor having to deal with probate, it’s often a good idea to consult an Estate Lawyer professional who can guide you through the process based on the specifics of your case and local requirements. The team at Chamberlains are here to help guide you through the process. Were With You.