Firstly, we are very sorry for your loss.
When a loved one has passed away, we recommend that you start with the following steps:
- make enquiries about whether they had a Will;
- if they had made a Will and you are the executor, take steps to obtain a copy of the Will from your loved one’s secure storage location or their lawyer; and
- take steps to follow your loved one’s wishes detailed in their will by starting with an application for a grant of probate or small estates application as discussed below.
If your loved one did not have a Will, please refer to our blog ‘What are ‘Letters of Administration?’ for more information on other options available.
Do I need to apply for probate?
Section 71 of the Administration and Probate Act 1958 (Vic) defines a ‘small estate’ as an estate where the gross value of solely owned assets does not exceed $111,540.
If you are the executor in the Will, depending on the size of the estate, you may be eligible to apply to your local Supreme Court (or if you live further than 32km from Melbourne, a Magistrates’ Court) for a small estates application, rather than obtaining a grant of probate or letters of administration.
If the estate is valued more than $111,540, then you will need to apply for a grant of probate with the Supreme Court.
If you require further information about Wills and probate or would like assistance with applying for a grant of probate and administering your loved one’s assets, please call Morgan Couzens Legal on (03) 5752 1280.
MORGAN COUZENS LEGAL
If you would like to read more about Wills and Probate matters, please read the following blogs: