When a person has been appointed as an Executor under a Will they will sometimes need to obtain “Probate” of the Will, by making application to the Supreme Court.
A “Grant of Probate” simply means the formal approval by the Supreme Court to the last Will.
The formal approval allows an Executor to collect the assets, pay the debts of a deceased person and then to distribute the estate in accordance with the provisions of the Will.
Do I Need Probate?
You will always need probate if the home or other land being distributed under the Will is in the deceased’s sole name. If you own this land or property as joint tenant, with the deceased person, you will not need probate.
You might need probate to deal with other assets, like money in bank accounts or money from a life insurance policy.
To find out, you need to write to the bank, company or other institution who will tell you whether they require probate, before they will transfer the asset.
What are Letters of Administration?
An alternative, to an application for a Grant of Probate is to apply for Letters of Administration. This is done where there is no Will or the Will is invalid or partially invalid.
What is an Executor?
An Executor is a person appointed in a Will to act in respect of the estate of the Will maker upon his or her death. An Executor is the legal personal representative of a deceased person.
When a person dies without a Will then an Administrator is the legal personal representative.