Deceased Estates & Estate Administration
In most instances it will be necessary to obtain consent from the Supreme Court before the assets of an Estate can be distributed to the beneficiaries. The legal processes for obtaining consent from the Supreme Court are referred to as either Probate or Letters of Administration.
Probate
Probate is the legal process of obtaining the Supreme Court’s endorsement that the Will submitted to the Court is the Last Will and Testament of the deceased.
Once the Supreme Court issues the Grant of Probate the nominated executor/s can begin the process of administrating the Estate including calling in the assets attending to payment of any Estate liabilities and distributing the remainder of the Estate in accordance with the legacies and bequests provided in the Will.
Probate is the legal process of obtaining the Supreme Court’s endorsement that the Will submitted to the Court is the Last Will and Testament of the deceased.
Once the Supreme Court issues the Grant of Probate the nominated executor/s can begin the process of administrating the Estate including calling in the assets attending to payment of any Estate liabilities and distributing the remainder of the Estate in accordance with the legacies and bequests provided in the Will.
Letters of Administration
If the deceased did not have a Will or the Will is defective in some way, the Estate is referred to as intestate.
In these circumstances it is often necessary to apply to the Supreme Court for a Grant of Letters of Administration or Letters of Administration with the Will Annexed before the Estate can be administered. A potential administrator will be required as part of this process to satisfy the Court that they are the appropriate person to be appointed as the administrator, what the assets and liabilities of the Estate are and who are the appropriate beneficiaries.
The legal process of applying for a Grant of Probate or Letters of Administration can be complex. In certain circumstances an executor or administrator can also be held personally liable to the beneficiaries for losses suffered by an Estate. It is therefore recommended that an executor or an administrator obtain legal advice prior to distributing the Estate.
McPherson Park Lawyers have an experienced and understanding legal team who will advise you through the required process to ensure that as an executor or administrator you can administer the Estate in an appropriate and timely manner.