Fundamental Aspects of Deceased Administration and Probate

One has to understand the process of probate and estate administration so when the time comes it will not be difficult to deal with these matters.

The probate may be inevitable if someone dies with a legitimate will. Some people go around the need for probate by making sure that their assets are held equally with their spouses. However, probate becomes mandatory if the estate is held mutually as tenants-in-common. This happens since interests of the deceased are not transferred to the other tenants. Properties can also avoid probate if there are low value assets like small lots or bank accounts. Probate application depends on the quantity and type of assets that the deceased owned at the time of death. The following papers are required for probate application:

- Original copy of Last Will and Death Certificate - Records of the dead person's assets such as bank statements, share of dividends, and superannuation fund statements - Certificate of property title - Registration of motor vehicles - Copies of pertinent contracts such as loan agreements and mortgages - Records of arrears and liabilities as well as bills of the deceased - Draft probate and Executor's oath - Affidavit of Assets and Liabilities - Registrar's certificate

Executors should not make any erasures or changes in the Will. Even the mere removal of the staple wire or binding to make copies should be explained when applying for probate. If the document has errors correction is required. This usually occurs if the Will is not prepared by an attorney. Minor issues (misspelled words and incorrect addresses) can be explained during the probate application. Nevertheless, errors that affect the gifting under a Will need to be rectified. Rectification is an additional application that can be submitted together with probate application or before this step.

The Executor's affidavit explains the reason for requesting the amendment. It should provide evidence that the projected amendment is meant to give effect to the testator's real intentions.

If the error is due to formatting made by the lawyer, it is important to have the lawyer swear an affidavit to support said application.

In case the deceased died intestate, an application for Letters of Administration and not probate is filed. This calls for an additional document known as surety's guarantee. This is in the form of an affidavit provided by the sureties. The purpose of the guarantee is to give the beneficiaries of the property assurance that the administrator will do the right task.

If you are looking for professional, reliable executors of Will who can assist you all the way with deceased estate administration, visit Estate Admin services by clicking on the link.

This article was published on 14 Aug 2014 and has been viewed 562 times
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