A Grant of Probate is a legal document issued by the Supreme Court that gives a person (or people) the authority to deal with the estate of someone who has died. This can include collecting assets, paying debts, and distributing the estate to beneficiaries.
Determining whether a Grant of Probate is necessary is based on what assets were held by the deceased and their value.
For example, some banks will only require a Grant of Probate to release the funds if the bank accounts contain an amount over a certain threshold. Different banks have different thresholds ranging from $20,000 to $100,000.
A Grant of Probate must be obtained if the deceased held real estate in their sole name, or as tenants-in-common.
A Grant of Probate may not be required if the assets held by the deceased are jointly held with another person. This is because jointly held property and assets such as bank accounts pass to the surviving owner.
If a person dies without leaving a valid Will, or if their Will does not deal with all of their assets, their estate is considered to be intestate. In these circumstances, an application can be made to the Supreme Court for a grant of Letters of Administration, which authorises someone to administer the estate.
The laws of intestacy determine who is entitled to apply for Letters of Administration and who is entitled to inherit from the estate. The person appointed to administer the estate is known as the Administrator and is typically the deceased’s closest next of kin, such as their spouse, domestic partner, or child. The Administrator is responsible for collecting the estate assets, paying any debts, and distributing the estate in accordance with the intestacy laws.
The application can only be lodged after the death certificate is issued, therefore the time frame is largely dependent upon when the death certificate is received.
Prior to filing the application, the executor must file an advertisement with the Supreme Court setting out their intention to apply for Probate. The advertisement period is 14 days.
Once this advertisement period has passed, the application may then be lodged with the Supreme Court. Once the application is lodged and original documents submitted to the Supreme Court, the Court may take between 2 to 4 weeks to review the application.
We offer fixed-fee services for preparing and lodging applications for a Grant of Probate or Letters of Administration. In addition to our professional fees, there are Supreme Court filing fees and advertising costs payable as part of the application process.
The Supreme Court filing fee is determined by the gross value of the deceased's Victorian assets and is subject to change from time to time. For an estimate tailored to your circumstances, including all professional fees, filing fees and disbursements, please contact our office for a quotation.