Article of Interest on Wills & Estates

IS PROBATE NECESSARY?

A Grant of Probate is the formal, legal confirmation that the Will of a deceased person presented to the Court is the last Will of that person. If Probate is granted, then the Executors appointed under that Will have authority to deal with the assets of the estate in accordance with the Will.

But is it really necessary? Do you have to go to that trouble?

A grant of Probate may not be formally required in the following circumstances:

1. If bank accounts of the deceased are minimal (generally less than $15,000.00);

2. If there are no legal requirements for Probate in order to change ownership of a particular asset.

Sometimes, it is prudent to obtain a grant of Probate even if there is no formal requirement to do so. If a formal grant of Probate is made, then the person named in that grant has absolute authority to deal with the assets. There is no dispute. It is extraordinary how often dispute arises in relation to the assets of a deceased person.

If you are the person who is being pressured to deal with the deceased’s assets in the absence of a grant of Probate, you should obtain legal advice. If someone comes at a later stage disputing the Will ordisputing the distribution that has taken place, you may be personally liable .

The death of a loved one is a very stressful time. The experienced Lawyer will help relieve that stress and put in place a framework for the administration of the deceased’s estate. Your Lawyer will be able to tell you why a grant of Probate should be applied for or when it can be dispensed with.

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