Probate in NSW: What You Need to Know
Navigating the process after a loved one passes away can be overwhelming, and understanding probate is often a key part of managing their affairs.
At Renee Roumanos Legal, we strive to simplify legal processes and help our clients through every step. Here’s a guide to help you understand probate in New South Wales (NSW).
What is Probate?
Probate is a court process that confirms the validity of a deceased person’s will and grants the executor the legal authority to manage the estate. This includes distributing assets to beneficiaries and settling debts or liabilities. Essentially, it ensures that the person’s final wishes, as outlined in their will, are legally recognised.
In NSW, probate is issued by the Supreme Court of New South Wales and is an essential step for most estates, especially those involving substantial assets, such as property or investments.
When is Probate Required in NSW?
In NSW, probate is generally necessary when:
The estate holds substantial assets, especially property.
The deceased held accounts or assets with financial institutions requiring a probate grant.
Disputes arise among family members or beneficiaries.
However, probate may not be required for smaller estates or when assets are jointly owned, as joint ownership allows assets to transfer automatically to the surviving owner.
Applying for Probate in NSW
The process of applying for probate includes several steps, and while it may seem daunting, an experienced legal team can guide you through it smoothly. Here’s an overview of the process:
Locate the Will: The first step is to locate the deceased’s original will, as only the original can be submitted for probate.
File a Probate Application: The executor must complete the Supreme Court of NSW probate application, including supporting documents and a copy of the death certificate.
Notify the Public: A notice of intended application must be published on the NSW Online Registry. This allows creditors and any other interested parties to come forward.
Submit Documents to the Court: The executor then files the original will, death certificate, and a statement of assets and liabilities with the Supreme Court.
Wait for Approval: If all documents are in order, the court typically grants probate within a few weeks. Once granted, the executor has the legal authority to administer the estate.
The Role of the Executor
An executor is responsible for:
Identifying and gathering the deceased’s assets.
Paying outstanding debts, taxes, and expenses.
Distributing assets to beneficiaries as per the will.
The role can be time-consuming and complex, particularly with large estates, multiple beneficiaries, or disputes. At Renee Roumanos Legal, we support executors in fulfilling their duties effectively, ensuring compliance with all legal requirements.
How We Can Support You
Probate can be a sensitive and complex process, particularly when emotions are high. At Renee Roumanos Legal, we offer compassionate, professional assistance to guide you through the probate process. From initial consultations to managing complex estates, our experienced team is here to help make this challenging time easier.
For any questions about probate in NSW or if you need assistance with an estate, please contact Renee Roumanos Legal. Our team is dedicated to providing clear guidance and support every step of the way.
