Facing death in the family can be a challenging ordeal. However, once you’ve gotten over the grief, there’s still much to do with regards to handling the deceased’s assets and outstanding debts.
Securing your deceased’s assets
Securing a grant of Probate is necessary to gain access to the partition of assets that the deceased has left with you. The legal process of obtaining one can often confuse people who are not familiar with the law’s due process. In this article, we’ll give you a step-by-step guide on what to do when handling the legal process of getting a grant of Probate
- Publish a Probate Notice online
To accurately track and secure the deceased’s assets, you will be required to obtain a Grant of Probate. Announcing that you will apply for a Probate Notice online two weeks before the actual application is the first step to securing a grant. This is necessary for other parties to have time to present any evidence of a document that contests your claim on the credibility of your will.
The process of registering and filing a Probate Notice form can be viewed through the NSW Online Registry for courts and tribunals.
- Define the deceased’s assets and debts
Once you’ve obtained a death certificate through the NSW Registry of Births, Deaths, and Marriages, your next course of action is locating the deceased’s withheld assets and debts.
You must contact the deceased’s creditors and asset-holders to ask for specifics on the individual’s assets, debts, and requirements for release. As an asset-holder, a bank has jurisdiction on whether or not they will need evidence of Probate before the deceased’s funds can be transferred to your name in the will.
- Apply for a Probate application
Getting a probate application requires at least four official documents that need to be filed by the Probate Registry of the Supreme Court of NSW. The necessary documents are as follows:
- Original will – The genuine copy of the deceased’s confirmed last will
- Duplicate form of probate application – a stamped envelope where the Probate document is self-addressed to you.
- Summons for Probate – (No. 111, Approved Civil Forms)
- Affidavit of executor – A form that informs the applicant of the additional required documents such as a copy of the death certificate, an inventory of property, details of liabilities, and details of the beneficiaries
Depending on the cause of death, whether across the state or overseas, the probate applicant must present the original death certificate and a copy with an English translation through an accredited translator if necessary.
If any of the aforementioned documents are filled incorrectly, you will have to go through the application again in the form of a requisition.
- Wait for the Granting of Probate
Through the affidavit of executor, the assigned executor must include a statement to whether the deceased had any other documents that have testaments on outstanding debts or directing assets to specific benefactors.
The court will deny your Probate application if a will is invalid, which could result in a court case. After all documents are correctly submitted and assessed, and once there is no dispute about the will’s contents, you will then be granted as Probate in common form. If the Probate in possession of a disputed will is approved by the court, the Probate is granted in solemn form.
Death never comes easy, especially when we’re not prepared to deal with the legal ramifications of losing a loved one. Thus, you should go through the necessary legal processes with a professional to guide you.
If you’re looking for a committed probate lawyer in Balmain to guide you through the process of securing your deceased’s assets and properties, our professional practitioners are here for you.