What is probate and letters of administration? Probate fees set to increase.

A Grant of Probate or Administration is crucial in many estates because it gives the executor of the Will legal authority to manage and distribute the deceased's assets.

What is probate and letters of administration?

Probate is the legal process in which a Will is validated by the Court, and assets are distributed under the Court's supervision. If an estate includes high-value assets (depending on the nature of those assets), probate is often required where there is a valid Will.

Similarly, if a deceased person left an invalid Will or no Will at all, executors are not authorised to handle the deceased's estate - regardless of the value - without first obtaining a Grant of Administration.

Probate fees to increase

Starting from 18 November 2024, new government regulations propose to significantly increase fees for obtaining Grants of Probate and Letters of Administration through the Supreme Court for deceased estates.

The proposed fee increases, compared to current fees, are as follows:

The upcoming fee increases will impact the responsibilities of executors, potentially increasing their personal burden as they oversee the estate. Although executors may need to personally cover these fees initially, they may be reimbursed from the estate funds once available. The timing of reimbursement may occur before or after the Grant of Probate is issued, depending on available assets.

Maddens Lawyers are experienced in deceased estates

Navigating the probate process can be complex, especially with the impending fee changes. Our experienced team is here to help guide you through the process and offer support every step of the way. Speak to our team today, contact us on 1800 815 228 or request a call back.