THE PROBATE PROCESS
Start the Process
Secure the will & asset documentation
The will must be searched for, secured and not marked in any way. Note contact details for the executor or personal representative.
The Estate
The Assets of the “Estate”
Proof of assets like land titles, bank statements, insurance policies, share certificates should be compiled. Put together a list of any known debts with their evidence including funeral expenses, outstanding mortgage or loans etc.
The Estate Lawyer
Hire a Lawyer
Hire an attorney-at-law to prepare and file the legal documents and bring them all the documents listed in 1-2. The attorney-at-law may write to entities to confirm the assets.
The Grant of Probate
Apply for the Grant
Work with the lawyer to get the relevant paperwork signed and filed in order to begin the process to receive the grant of probate (will) or letters of administration (no will) which is issued by the Court.
The Court Process
The In-Between
Once the Court gives the go ahead, place the notice in the newspaper. Wait six weeks for any creditors to notify of debts owed by the deceased. The grant will not be issued by the Court until this step is complete.
Debts & Taxes
Debts and Taxes are forever
The debts and expenses must be paid from
any liquid assets. The duties and taxes must also be paid in order to transfer the remainder. Some assets may have to be liquidated to cover these items if no beneficiary is able to up-front the cost.
Distribution of the Estate
Transfer of Inheritance
Once all the fees and debts are paid, the attorney-at-law will transfer the remaining assets to their respective beneficiary in accordance with the will.
Account & Close the Estate
The End
Once the debts are repaid, the taxes are paid and the distribution of the assets is complete, a full accounting is done so a statement of account can be filed with the Court.
DISCLAIMER
NOTE: The materials available on the blog and website are for informational purposes only and not for the purpose of providing legal advice. You should retain an attorney-at-law to obtain advice with respect to any particular issue or problem. Use of and access to this Web site or any of the contacts contained within the site do not create an attorney-client relationship between Chang Law and the user or browser.