Do I need Probate?

Do I need Probate?

Before you set about applying for Probate, ask yourself if you really need it. 

Many people have only one reason to apply for Probate, which is that organisations (like banks or retirement villages) will not release the assets of a person who died until the Executor presents the Probate certificate. 

If an asset is owned jointly with another person who is still alive, it should not be necessary to remove from the title the name of the deceased. 

So before you spend time and money applying for Probate, make a list of all assets owned by the person who died, and find out (by asking the asset-holders) if you can get the assets released without Probate.

Assets usually fall into these categories:

  • Real estate
  • Retirement village accommodation bonds / holdings / or whatever they might be 
  • Cars
  • Superannuation entitlements
  • Bank accounts
  • Shares.