Where there’s a Will there’s a way
Most people wonder why they need to hire a Probate lawyer to finalize an estate on the Gold Coast. But as they say “you can’t take it with you when you die.” Probate lawyers can help the surviving family distribute your assets and settle debts after you are gone.
You are not always required by law to apply for probate, but there are circumstances when you have to. You will need a grant of probate because some people or organisations holding assets of the estate will not release them without sighting a grant of probate. A grant of Probate is the court’s recognition that the Will is the last will of the deceased and the executor is authorized to deal with the Estate and gives a valid receipt to the bank or financial institution.
What is required to finalize an estate?
A person’s will becomes active once they pass away. The executors of the Will is the person or persons who legally represent the person who has passed away to carry out the wishes set out in the Will.
Who is a probate lawyer?
A probate lawyer assists the executor to contact all the organisations and banks where the assets of the deceased are held and arrange for documentation to have the assets released so they can be distributed to the beneficiaries named in the Will.
When probate is required, the probate lawyer drafts all the necessary documentation required by the Queensland Supreme Court to have the Will recognized as the legal last Will of the deceased.
Why you need to hire a probate lawyer
The process of obtaining Probate can become complicated if the assets of the estate are held with many organisations and institution. Entrusting this process to a lawyer who is experienced in dealing with the Courts and organisations takes the stress off the Executor at a time when they are grieving and assists with getting the assets to the beneficiaries in a timely manner.
What can go wrong?
In certain circumstances, an executor can be held personally liable for debts of the Estate, including taxes. There may be family members who are not happy with the contents of the will and who wish to contest the Will, leading to court proceedings. The Will may not be able to be located or a Will may not have been signed. In these circumstances an application to the Court may be required to have the estate transferred to the beneficiaries. In all these circumstances our probate team can help the executor carry out their duties and ultimately have the assets of the estate transferred to the rightful beneficiaries.
Our friendly team is here to help. If you have any estate questions, or are an executor who needs assistance in realizing the assets of an estate, contact us today at www.robertslaw.com.au