Bare Cremation’s estate planning expert, Yajaira (Yaya) Appeldorff answers your questions about Wills and estate planning. Click below to find out more.
Q: How long does Probate take?
A: When someone dies, an Executor of a Will or an Administrator steps in as a caretaker of the deceased person’s estate, which includes any assets like money and property. Where there is a valid Will, the Executor takes ownership of the deceased estate and distributing the assets to beneficiaries in accordance with the Will.
Probate is what is known as the legal process required before a deceased person’s estate can be distributed to any beneficiaries.
Generally speaking, the process of Probate usually takes around 6-12 months. But this depends on the type of assets that need to be dealt with. For example, if property needs to be sold, Probate can be a longer process to complete.
What’s involved with Probate?
The Probate process will vary in each individual’s circumstances, and between state and territory. But generally, the process may include some of the following tasks:
- Applying for a Grant of Probate for larger estates
- Appointment of the Executor of the Will
- Claiming superannuation and any insurance benefits
- Valuing, managing and/or selling property where there is no surviving spouse
- Cancelling drivers’ licences
- Selling a vehicle and/or transferring ownership
- Deleting or memorialising social media accounts
- Paying outstanding bills, loans and other liabilities
- Compiling an inventory of assets and liabilities
- Determining beneficiaries and distributing bequests
- Lodging tax returns for the deceased person and their estate
- Administering trusts, investments and bank accounts
- Closing accounts
You can find out more about what’s involved in our article What is a Grant of Probate or Letters of Administration? here.
Ask our estate planning experts
Do you have a question about estate planning but weren’t sure who to ask? Our estate law specialist, Yajaira (Yaya) Appeldorff can help.
Email your estate planning questions to firstname.lastname@example.org with the word Mailbag in the subject field and the next one could be yours!
Whether you just need a free Will or an entire estate planning kit, we have a package that suits your needs. Give us a call on (03) 6118 7131 for a no-obligation consultation, or visit the website barelaw.com.au.