Do you feel the urge to know about Grant of Probate? Everyone who has some probate issues face the need of Grant of Probate. It is required when some people or organisations holding assets of the deceased estate will not release them without sighting a Grant of Probate. Source: http://probatewa.lawyer/why-would-i-need-a-grant-of-probate-or-letters-of-administration/
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What is Need of a Grant of Probate?
1. Why would I need a Grant of
Probate or Letters of
Administration?
2. You may need to obtain a Grant of Probate or
Letters of Administration because some
people or organisations holding assets of the
deceased estate will not release them without
sighting a Grant of Probate or Letters of
Administration.
Below are listed some common types of
property. Depending upon the circumstances,
you may not require a Grant of Probate or
Letters of Administration.
3.
4. Accommodation bonds
In WA, generally a Grant of Probate or Letters of
Administration will be required before an
accommodation bond will be paid to deceased
estate. Each aged care facility have their own policies,
so its best to contact them first.
Bank accounts
Bank accounts held jointly with another person do not
form a part of the deceased estate. Joint account
holder is entitled to transfer funds to another bank
account.
For a bank account of deceased which was in their sole
name, each bank has their own policies in relation to
deceased estates. Contact bank first, as you may not
need a Grant of Probate or Letters of Administration.
5.
6. Boats
In WA, the ownership of boats may only be
transferred by the Department of Transport from
the deceased estate once the Grant of Probate or
Letters of Administration has been completed.
Cars & trailers
In WA, the ownership of cars and trailers can be
transferred by the Department of Transport from
the deceased estate without the need for a Grant of
Probate or Letters of Administration. A statutory
declaration form must be completed.
7.
8. Firearms
In relation to guns, its best to check with the police
as there may be different issues for licensed and
unlicensed guns and the legal requirements may
vary between each State and Territory.
Houses & land – Joint tenants
In WA, if a house or land was owned as “joint
tenants”, the property may be transferred by
Landgate from the deceased estate into the name
of the other joint tenant without the Grant of
Probate or Letters of Administration.
9.
10. Houses & land – Tenants in common
In WA, if a house or land was owned as “tenants in
common”, the property may only be transferred by
Landgate from the deceased estate into the name
of another person once the Grant of Probate or
Letters of Administration has been completed.
Legal proceedings
If the deceased was a party to legal proceedings at
the time of death, it will depend upon the type of
case whether the proceedings are unable to be
continued by the deceased estate. You should
obtain legal advice.
11.
12. Life insurance
Life insurance payments may not form a part of the
deceased estate. If there are stipulated beneficiaries
under the life insurance policy, the payments may go
directly to the beneficiaries and therefore these
moneys do not form a part of the deceased estate.
Shares
In relation to shares, generally shares can be
transferred from the deceased estate to a beneficiary
of the will without the need for a Grant of Probate or
Letters of Administration. Contact the company’s share
registry or check the share registry website for a form
to transfer shares from a deceased estate.
13.
14. Superannuation
A deceased person’s superannuation death benefits
will only form a part of the deceased estate if:
• the deceased person has signed a valid binding
death benefit nomination which directs trustee of
superannuation fund to pay death benefit to
Executor / Executrix
• if there is not a valid binding death benefit
nomination, trustee of superannuation fund
exercises their discretion to pay death benefits
directly to one or more of deceased person’s
dependants.
15.
16. Tax debts
Depending upon the circumstances, it may not
be necessary to obtain a Grant of Probate or
Letters of Administration. The Australian
Taxation Office may allow you to finalise the
tax affairs of the deceased once you have
obtained the death certificate.
17.
18. Need assistance with a Grant of
Probate or Letters of Administration
The team of experts at Probate WA Lawyer can
prepare the Court documents necessary for a Grant
of Probate or Letters of Administration. Call Robson
Hayes Legal on (08) 9322 2256 or email us
at contactus@probatewa.lawyer to discuss your
probate and deceased estate issues.