What is probate?

|

ProbateIf a person dies with more than $15,000 assets in his or her name, and a valid will, then Probate will have to be obtained in order to administer the estate.  Obtaining Probate is the process of proving the will to the High Court and having the will formally accepted as the person’s last will. The Probate document states that the executors named in the will have the authority to administer the estate, meaning that they can start the process of bringing in the assets and paying the debts of the estate.
If the person who died did not have a valid will, then Letters of Administration will have to be obtained.

If you have any questions regarding probate, or wish to seek advice regarding administering a deceased estate, please contact our Estates AdministatorMimi Lewell by phone on 837 6831 or email mimi.lewell@smithpartners.co.nz 

 

Latest News
Smith-and-Partners-Square-Logo.jpg
Have you reviewed your contracting out agreement lately?
06/11/2017
Regular reviews of your contracting out agreement are important to protect it from being vulnerable to challenge.  In our latest relationship property......
Read more >>
Smith-and-Partners-Square-Logo.jpg
Selling property when it’s owned by a trust
31/10/2017
Do you know the rules around selling property owned by a family trust? Selling property owned by a family trust is not......
Read more >>