When a person dies, they usually leave all their assets (including possessions, property, money and other savings) to be distributed amongst the beneficiaries as mentioned in their Will. The Will made by them should name one or more people, who are known as executors or administrators. They are solely responsible for dealing and distributing the assets, as well as paying off any debts left by the deceased. For the executor or administrator to access the assets, they have to apply to the probate registry for a document which is known as ‘Grant of Representation’ or ‘Grant of Probate’. However, before starting with the process of obtaining the probate, one has to establish their right to act as the deceased person’s executor. To do so, they have to send the original Will to the probate office. This may involve the need to visit the attorney who had prepared it, only if they were holding the Will for the deceased person. Why is a Grant of Representation is required? A Grant of Representation assists the executor to legally access the assets from banks, insurance companies, organisations, etc. and distribute them amongst the beneficiaries as per the Will. There are three type of Grant of Representation, which are:
Who can apply for a Probate? It is not necessary that everyone who has to receive money or property as per the Will would have to apply for probate. Generally, one person is named in the Will known as the executor and they are the ones who need to apply for probate. But, if the person who is entitled to the assets is under 18, then legally two people are required to apply for probate. However, you can apply for probate if you are 18 years or above and:
Steps before applying for Probate
As an executor, before applying for a Grant of Probate, it is essential to firstly assess the assets and then properly evaluate them, so as to avoid any future complications.
For a few estates, assessing it is a simple tally of all the accounts whereas for others the process is full of complexity with several properties, investments, as well as personal effects. Each and every institution which holds the deceased assets should be provided with a copy of the death certificate. Banks should straight away pay the funeral expenses. However, most of the assets remain frozen, until the probate is not legally granted to the executor.
Applying for Probate Once the estate is completely assessed, the executor has to fill in the following forms:
But if there are more than one executor, then they are capable of Contesting Probate, which assists them to temporarily stop probate from being carried out, if they have certain allegations regarding the Will itself. Processing the Application Forms: After completing the required forms, they are to be submitted to the Probate Registry along with the original Will, as well as the death certificate. Furthermore, the executor also has to swear an oath which says that all the details provided are correct. Swearing an oath can be done either at the nearest Probate Registry or at a local attorney’s office. Seeking assistance of an attorney can be faster in comparison to going to a Probate Registry. Obtaining Grant of Probate When the entire process is completed and probate is granted, the executor can legally access all the assets. These assets can then be sold, transferred or distributed amongst the beneficiaries as set out in the Will by the deceased person. It is better to consider placing a notice about the deceased person’s estate, asking unidentified creditors to come forward. If this is not done, then as an executor you can be held responsible for any of the unidentified debts left by the deceased person and so you will be required to pay them off. To find out more information about will probate there are many professions and services available.
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