We provide probate services including obtaining a Grant of Probate or a Reseal of an existing Grant.
The role of executors and trustees can be daunting and at times complicated, but we aim make the process as straightforward as possible by supporting executors and trustees to understand and carry out their duties.
We assist executors and administrators in taking control of a deceased estate and in holding or transferring assets for beneficiaries.
We understand this can be a difficult time for families – please contact us to ask how we can assist you.
Our Services Include
- Applications for probate and letters of administration
- Estate administration (including collecting assets, paying debts and distributions to beneficiaries)
- Assist executor and trustees when dealing with problematic estates or difficult beneficiaries
- Discrete tax advice on estate and trust transactions
- Applications to reseal foreign and non-Victorian Grants for use in Victoria
- Urgent probate applications in certain circumstances
Frequently Asked Questions
How will we be impacted by the new Government probate fees?
The Victorian Government has dramatically increased probate fees, with effect from 18 November 2024.
The increase has been widely criticised as being a “tax grab’ on deceased estates. Indeed, it does appear that the increase means that fees for estates over $1 million are not a true reflection of the cost of providing the service.
For estates valued over $7 million, the government fee has increased from $2,200 to $16,800 !
The new fee has consequences for executors who will need to work out means of paying the fee before they have access to estate funds, which they can only access after Probate has been obtained.
As we have done for nearly 70 years, Wills & Wealth will continue to work with clients to assist in the probate process.
What if I need an urgent Grant of Probate?
When a person dies unexpectedly, there can be financial damage or loss if their contingency planning does not allow someone to quicky take control of their financial affairs.
Any powers the deceased may have granted others under an Enduring Power of Attorney will cease on their death.
A Grant of Probate usually takes 6 to 10 weeks. This can be too long if:
- The deceased – either personally or as sole director a company – operated a trading business which has employees and suppliers who are unable to wait weeks or months before being paid.
- The deceased signed a contract for sale for a property and settlement is within this timeframe.
- The deceased held assets that require active management such as rental properties, farms, shops and other businesses or investments.
- The deceased had ongoing obligations to financially support others who will face significant hardship if these payments cease suddenly.
The solution may be to apply to the Supreme Court for an urgent grant of probate. This grant is sought when there is an immediate need to preserve, protect, or collect the assets of the estate.
The powers granted under such a grant are usually specific and limited to what is necessary to protect the estate in the immediate future.
If someone has died in circumstances where an urgent appointment is needed to avoid loss or damage to the estate, please contact our experienced Probate Team to discuss how we can help you.
If you are a business owner, our Estate Planning Team can help you with your contingency planning in the event you lose capacity or pass away.