What is probate?
Probate is the process by which a court with the appropriate jurisdiction identifies the legally correct version of the will of a deceased person, usually based on the application of the executor appointed in the will of the deceased person. Sometimes people also refer to probate when speaking of a situation where someone has died without making a will. However, this actually refers to an application for letters of administration which is the legal term for an application where a person has left no will.
Why is a probate application necessary?
There is in fact no legal requirement that probate is sought. However, it is usually a requirement of most financial institutions that a probate application is made in order that a bank may release funds held by the deceased person. In some cases it is also requested by superannuation trustees or by Insurance companies before paying life insurance policies.
What will a probate application normally cost?
There area number of elements to consider in terms of the costs of making a probate application. There are legal fees and disbursements. The cost of legal fees in a probate matter is set at a maximum according to a scale under the regulated costs. Probate also involves a number of disbursements related to advertising, Supreme Court application fees and in some cases, valuations and other professional fees. The probate application fees are also usually separate from fees associate with the distribution of funds which can include conveyancing charges and fees charged by the land titles office. By contacting our lawyers with the basic information about your case we can provide you with a fixed fee for probate work. You can also find out the regulated scale of costs listed on the probate costs section of this site.