Every person should have a Will or at the very least have had professional advice on the need for one. A Will made today can take into account, not only today’s circumstances, but a myriad of changing circumstances well into the future. Indeed, no one can predict the future but a well drawn Will can take into account many unforeseen circumstances.
When a person dies it is important that someone is able to deal with the assets and liabilities of the estate. This will allow for the payment of any outstanding liabilities owed by the deceased and a subsequent distribution of assets to estate beneficiaries.
When a person dies and leaves substantial assets (for example a house or investments over $10,000.00) a Grant of Probate or Letters of Administration is usually required before assets can be sold or transferred to beneficiaries.
Grant of Probate
Grant of Probate is usually sort when a dies and leaves a Will. An application for a Grant of Probate is made by the executor of the Will. The executor will make an Affidavit in support of the application which will be submitted to the Probate Registry at the Supreme Court of Victoria together with the Will, a copy of the Death Certificate and other supporting documentation.
Letters of Administration
Letter of Administration usually occurs when a person dies without a Will. The next of kin (similar to the executor of a Will) will make an Affidavit in support of the application which will be submitted to the Probate Registry at the Supreme Court of Victoria together with a copy of the death certificate and other supporting documentation.
What RANDLES COOPER LAWYERS can do for you?
With extensive experience our lawyers and other professional will assists our clients’ through the above processes which usually involves (but not limited to) the following steps:
1. Locating assets in the Estate;
2. Preparing and Lodging documents for the application of Probate/Letters of Administration;
3. Collecting, transferring and liquidating assets for clients; and
4. Distribution of estate assets to beneficiaries.