You've probably heard the word "probate" used when
somebody dies and leaves a will. But what does it mean, and what is
the process involved in having probate granted?
What is a grant of probate?
Under NSW law when a person dies leaving significant assets, the
executor of the will needs to apply to the Supreme Court of NSW for
what is called a grant of probate. This is usually done by the
court registrar.
So, why is probate needed?
Imagine a bank holds $100,000 for a person who has died. The
bank doesn't know whether a particular will is the last will of
the deceased person. This means that unless the Supreme Court
confirms the last correct will as valid (following an application
by the proposed executor), the bank could potentially be sued in
future by the beneficiaries of a more recent will.
