What is an Estate?

Estate refers to anything that comprises the net worth of an individual, from their housing property, to money, and even personal, sentimental items.

If your dearly departed has left behind a Last Will, they may have also indicated the executor(s) and trustee(s), where applicable, to execute the contents of the will. They can only do so if approved by the Court, either through applying for Grant of Probate or Public Trustee.

Essentially, both aforementioned court orders carry out the same purpose of executing what was written in the will. However, you should apply for a Grant of Probate if the deceased’s estate is more than $50,000 and/or there are no outstanding debts, while you can proceed to apply for the Public Trustee if the value of the deceased’s estate is less than $50,000.

In some instances, there is no specifically named executor in the Last Will. If so, the ‘executor’ will be the person that the court deems is “fittest to administer the estate”.

What if there is no Last Will written?

If there is no will left behind by your loved one, their next of kin can apply for the Grant of Letters of Administration. This court order allows an appointed person the ability to administer the estate and all such assets on behalf of the deceased.