WHAT IS PROBATE
What is probate?
After someone has died the deceased person’s assets need to be collected and the estate administered.
To do this an Executor needs to apply to the Probate Registry to obtain a document known as a Grant of Probate. If no will exists the document issued by the probate registry is known as a Grant of Letters of Administration.
The Grant of Probate or Letters of Administration has a number of important features in that it states:-
- the gross and net value of the estate.
- the names of the persons administrating the estate. In the case of a Grant of Probate it will state the Executors’ names while in the case of a Grant of Representation, the persons administering the estate are called the Administrators.