Wills and Probate
Wills and Probate
A will is a legal document made by the testator to provide for the distribution its assets and liabilities upon its death. A will can be made by any person above 18 years and with the prerequisite mental capacity. A will can bestow gifts on parties, or nominate a more complex scheme by which to distribute assets. When the testator dies, the will is administered by someone called the administrator. Usually, a will would appoint an executor to administer the estate. If not executor is nominated, the court will appoint one.
Before the assets can be administered, a grant of probate must be sought. A grant of probate is effectively a declaration that a will is valid and can be administered. A grant of probate is also required in the case of a person dying without a will (or “intestate”), or when there is a problem with the will.
Letters of Administrations are granted when a person dies without leaving a will, or when there is a problem with the will. A grant of probate or a Letter of Administration will always be required when dealing with real property.
