Probate Lawyer Sydney
When someone passes away and they leave assets, authority needs to vest in an individual to deal with the assets of the estate. For instance, how does one sell the deceased’s house or shares?Probate is a certificate granted by the Probate Division of the Supreme Court of New South Wales. A Grant of Probate is a declaration by the Court that the Will is valid as the last Will and testament of the deceased. The grant also gives authority to the Executor to administer the deceased’s estate in accordance with the terms of the Will.
One of the first things our estate lawyers do when acting in new a probate matter is to apply to the Supreme Court of New South Wales for Probate (in the case of there being a Will) or Letters of Administration (where there is no Will). This is so the Executor or Administrator can be appointed by the Court.
The second part of finalising a deceased estate is Estate Administration. Once there is a grant of Probate by the Court, the Executor is then responsible for liquidating the assets of the estate and making distributions to the beneficiaries named in the Will.
This includes such things as:
- selling property and shares
- closing bank accounts
- paying off debts
- lodging final tax returns
- dealing with superannuation benefits
Once all of assets and liabilities of the estate have been dealt with, the Executor distributes the proceeds of the estate to the beneficiaries.
The Probate Lawyers at Foulsham & Geddes have over 40 years experience in probate and estate administration. Please contact us if you would like information about making an application for Probate.
