Friday, July 24, 2015

Questions on Will and Trust: What is a Grant of Probate?

Grant of Probate is a document that the Executor of a Will need to apply when the Testator passes on.
The application of this document is normally done via a petition by a lawyer at the High Court.  On the application, the lawyer will submit details of the assets of the deceased together, the death certificate and copy of the original Will.

The Executor need to appear in the Court to confirm his/her identity and the Grant of Probate will be granted with his/her name mentioned as the Executor/Trustee.

Once the Grant of Probate is extracted, the Executor can unlock all frozen assets stated on the Grant and distribute according to the Will. Normally, the deceased's debts need to be settled before distribution.

With a written valid Will, the beneficiaries named in the Will will be able to receive their gifts at a much faster, smother legal process and cost less legal fees.

With a written Will, the distribution of the assets is decided on the manner stated in the Will. The Distribution Act does not applied.

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For more information on Will, please call Rockwills Services Centre at 03-7782 1993 /012 3039383.

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