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 PICTON OFFICE
20 Menangle St West,
Picton NSW 2571
p: 02 4677 1292
f: 02 4677 1442
DX 26051 Picton
NARELLAN OFFICE
Suite 3, Level 1,
320 Camden Valley Way
Narellan NSW 2567
p: 02 4647 8348
f: 02 4646 1595
DX 25804 Camden
CAMDEN OFFICE
28 Hill Street
Camden NSW 2570
p: 02 4655 3077
f: 02 4655 3227
DX 25804 Camden
OUR HISTORY
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Wills and Estates : Probate
Probate is the process where the Supreme Court confirms a Will of a deceased person as valid and approves the authority of the Executor to administer the Estate. The Executor is the legal representative of the Estate.
Not all Wills require Probate. Whether a Will requires Probate will depend on what assets are held by the Estate at the time of the deceased's death and how those assets may be released. Generally real estate held only in one person’s name or as tenant in common, and bank accounts over $15,000 will require Probate before those assets may be released or transferred.
An estate which does not require Probate may be dealt with informally, by an Executor providing written indemnities to release or transfer the assets of an Estate.
Generally the Executor's role in an Estate is to:-
- determine whether there is a specific direction in the will in relation to the nature and place of burial or cremation and, if not already done, to arrange for the deceased's funeral.
- ascertain the assets, liabilities and other entitlements to the Estate and to identify the beneficiaries;
- make an application for Probate within 6 months of the deceased’s death (if required);
- properly administer the estate by collecting any income and getting any assets of the estate;
- arrange publish a formal Notice of Intention to Distribute after one month from the date of publication, giving notice to creditors or others having claims against the estate;
- for payment out of the proceeds of the estate of:
- funeral expenses
- costs and expenses of administration
- other debts of the deceased including tax
- specific gifts of money
- act with care and, in the interests of the beneficiaries, administering the estate in accordance with any direction or power in the will as quickly as possible.
- seek expert legal advice as to whether an eligible person under the Family Provisions legislation has reasonable grounds for making a claim.
Whether an Estate requires Probate or may be dealt with informally, we are able to assist you to fulfill your role as an Executor.
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Law 9000
Lic.Law 20008
SAI Global
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The information you obtain at this site is not, nor is it intended to be, legal advice.
You should consult a lawyer for individual advice regarding your own situation.
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Liability limited by a scheme approved under Professional Standards Legislation All Rights Reserved.
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