Do we need a solicitor? Probate explained
What probate is, why it matters, and why we recommend a professional.
What probate is
Probate is the court's confirmation that the will is valid and the executor can act. Banks and aged care homes won't release estate money without it. If there is no will, the court appoints an administrator instead, through letters of administration.
Who's who
- Executor: the person (or people) named in the will to look after the estate. With an administrator, either is called the legal personal representative.
- Beneficiary: someone who receives something, under the will or because they were named on an account.
- Estate solicitor: applies for probate, collects the estate's money into their trust account and helps the executor pay it out.
Can I do it myself?
Technically, yes. Unless you have done it many times, though, it is an administrative maze through the courts, with many moving parts. We strongly recommend a professional estate solicitor. Ask us and we will put you in touch with one we trust in your state.
Can you deal with the estate for us?
Anything that belongs to the estate is your solicitor's to claim, and that is the cleanest way to do it. Where money goes straight to a named beneficiary and we arranged it, we help with the claim. Either way, we work with your solicitor and send them whatever they need from us. See Estate or not: who claims what.
How long does it take?
Probate commonly takes a few months; your solicitor can give you a better idea. Money paid straight to a named beneficiary usually comes within weeks of the paperwork being complete. Once the home sights probate, it refunds the RAD within 14 days.
Back to When someone passes away.
Questions? Text us on 0489 274 766 or email admin@primeyears.com.au.