If you have recently lost a loved one and they had assets in New South Wales, you may be wondering what to do next. Applying for a Grant of Probate is the first step in distributing the deceased's assets if they had a valid Will in place before they died.
In this guide, we'll explain the process of applying for a Grant of Probate in New South Wales in 2023, so that you can get started on securing your loved one's estate.
Who can apply for a Grant of Probate in New South Wales?
Only the executor of a deceased person's Will and estate in New South Wales can apply for a Grant of Probate. This legal document confirms that the Will is valid and that you have the authority to distribute the deceased person's assets according to their Will.
How do you apply for a Grant of Probate in New South Wales?
The process of applying for a Grant of Probate in New South Wales is as follows:
- Gather the necessary documents: Before you can apply for a Grant of Probate, you will need to gather certain documents, including the original will, a copy of the death certificate, and an inventory of the deceased person's assets and liabilities.
- File a probate application: The probate application is a legal document that must be filed with the Supreme Court of New South Wales. The application must include a copy of the will, a sworn statement from the executor, and a list of the deceased person's assets and liabilities.
- Advertise for creditors (optional): The executor may need to advertise in a newspaper to notify any potential creditors of the deceased person's estate. This is to ensure that any creditors have the opportunity to make a claim against the estate before the assets are distributed and removes personal liability from the executor.
- Obtain the Grant of Probate: After the probate application is filed and any necessary advertising has been done, the court will review the application and issue a Grant of Probate if everything is in order. The Grant of Probate is a legal document that confirms the validity of the will and the executor's authority to distribute the deceased person's assets according to the will.
- Distribute the assets: Once the Grant of Probate has been obtained, the executor can begin the process of distributing the deceased person's assets to the beneficiaries according to the will. This may involve paying debts and taxes, selling property, and distributing cash and other assets.
For more details about applying for Probate head to New South Wales Supreme Court’s website, here.
It's important to note that the above process is a general outline, and the specific requirements and steps may vary depending on the complexity of the estate and the specific circumstances of the case. It is always recommended to consult with a lawyer experienced in the New South Wales probate process to ensure that the application is handled correctly.
At Bare, our dedicated team of estate lawyers can help you through the process of Probate. Click here to learn more or call 1800 959 371 for a free consultation.
How much does a Grant of Probate cost in New South Wales?
The cost of obtaining a Grant of Probate in New South Wales can vary depending on the size and complexity of the estate.
One of the main costs associated with obtaining a Grant of Probate is the fee charged by the Supreme Court of New South Wales. As of 2023, the fee for applying for a Grant of Probate, where the gross value of the estate is over $100,000.00, starts from $802 up to $6179. This fee covers the cost of processing your application and issuing the Grant of Probate.
Another cost to consider is the fee charged by the lawyer or Probate practitioner who will assist you with the application process. The cost of legal services can vary widely, but on average, you can expect anywhere from $2,000 to $15,000 for a lawyer to help you with a Grant of Probate application, depending on the size of the estate.
You may also need to pay for additional services, such as advertising in the newspaper to notify potential creditors of the deceased person's estate. The cost of this service can vary, but it is usually around $100-$200.
In addition to these costs, you will also need to pay for the disbursements associated with the application. Disbursements are third-party costs that the lawyer will incur on your behalf, such as the cost of obtaining a death certificate or the cost of obtaining a valuation of the deceased person's assets. These costs can vary widely and can add several hundred dollars to the total cost of the Grant of Probate.
Probate should be simple, efficient and inexpensive. Through Bare Law, the cost of Grant of Probate is $1,899, which is inclusive of the preparation and lodgement of all documents with the Supreme Court of New South Wales, plus ongoing legal support and advice during the process.
Our fees are some of the lowest in Australia, and are entirely fixed, meaning that you won’t be sprung with any hidden or extra fees. You know exactly what you’re getting and what price you’re going to pay.
Final thoughts on the cost of Probate in New South Wales.
Probate shouldn’t be expensive, and it doesn’t need to be.
Arranging for a Grant of Probate can be complex, but at Bare, our expert lawyers can guide you through the process of managing and distributing your loved one’s assets and paying any relevant debts. Our team goes above and beyond to support you through this difficult time.
Click the link below to learn more about our services, or give our team a call on 1800 959 371.