When you create a will, you designate an executor whose duty is to oversee and manage the estate after your passing. An estate typically encompasses all assets owned by an individual, such as real estate, vehicles, cash, stocks, and personal belongings, but generally does not include superannuation.

The executor’s responsibilities are comprehensive and include:

• Making funeral arrangements;
• Informing banks and other relevant entities about the death;
• Determining the extent of the estate and securing control of all assets;
• Acquiring a Grant of Probate or Letters of Administration as necessary;
• Settling any disputes related to the estate and ensuring all debts are paid;
• Distributing the assets to the heirs; and
• Investing or overseeing assets reserved for beneficiaries.

Whether or not you will be required to obtain a Grant of Probate (or Letters of Administration) will depend on the assets of the deceased; what type of asset they were, their value and how they were owned. Assets usually fall into the following categories:

• Real property
• Bank accounts
• Shares
• Aged care bonds or deposits
• Cars
• Personal items

The assets may be owned jointly with another person or in the deceased’s sole name. Assets which were owned jointly with another person who is still alive may be able to be transferred to that person without the need for a Grant of Probate (or Letters of Administration).

Our lawyers will help you determine whether a Grant of Probate (or Letters of Administration) are necessary for your estate.

While the process to obtain a Grant of Probate (or Letters of Administration) is generally straightforward, the majority of people opt for legal assistance with their application. Currently, lawyers or trustee companies handle 95% of all probate applications submitted to the Supreme Court on behalf of executors.

To prepare their application, executors must first identify the estate’s assets and liabilities.

After gathering this information, the executor is required to announce their intent to apply using the Supreme Court Probate Online Advertising System. Following a 14-day period, the executor must submit their application at the Registrar of Probates’ office. This submission includes five specific court documents formatted according to Supreme Court guidelines.

The application is then examined by a Registrar of Probates and, if deemed acceptable, the Grant of Probate or Letters of Administration is issued by the Court.

Every estate is distinct, and the timeline from death to the ultimate distribution to beneficiaries can differ widely. The primary factors that influence the duration required to settle an estate include:

• The size of the estate and the nature of the assets and liabilities the deceased held;
• The necessity for a Grant of Probate or Letters of Administration, and the processing time required by the Supreme Court for the probate application;
• The speed at which assets can be liquidated and transferred;
• The presence of any disputes.

Our lawyers can offer a realistic estimate of the time it will take to administer your estate effectively.