Probate means literally "proof of the will". Probate is required when substantial assets are held in one organization usually a bank or fund. It does not matter whether the assets are a money sum or stocks and shares. The amount which will trigger a request for probate varies from institution to institution but as a rule of thumb, an amount between $15,000 to $30,000 is sufficient. Unlike other Australian States, Queensland does not require probate for real property transactions such as sales of houses or units. |
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Probate involves us in scrutinizing the Will, advertising in the local paper and in the Incorporated Council of Law Reporting, Advising the Public Trustee. We need to prepare a Probate Application and affidavits in support for filing the Will and the Death Certificate with the Supreme Court of Queensland, Probate Division.
The Probate Registrar will then read and check thoroughly through the Will and the Death Certificate and once satisfied, seal the Probate (proof) of the Will. This removes any doubt as to the Executors and/or the beneficiaries and opens up the assets for collection and distribution. |
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