A grant of probate is the process where the Supreme Court of Queensland says that a will of a deceased is their last will. By doing this, the person named as executor is then authorised to act in that capacity.
Do I need it?
It is not essential in every case. The decision to obtain probate is generally determined by the complexity of the estate and the size of the asset pool. Typically, banks or large organisations will insist on it if there are assets over $50,000.
Most aged care homes and retirement villages will also require it before they release any accommodation deposit or exit entitlement.
Does probate protect the executor?
It typically provides better protection to the executors. For example, it may protect the executors:
- Where a later will is discovered
- From banks seeking indemnities from executors without probate
- From debtors of the estate
Let us help!
If you think you may need to obtain a grant of probate or a grant of letters of administration in Queensland, please contact our friendly estates team on 07 5391 4900 to discuss your matter.