How much does probate cost in NSW?
The answer to this question depends on one main factor. That factor is – What is the value of the estate in question? A grant of Probate can cost you absolutely nothing on the lower end or just shy of $6000 on the high end.
So how much will it cost you?
The purpose of the following article is to discuss what precisely a Grant of Probate Is in NSW and uncover just how much it will cost you.
What Is a Grant Of Probate In NSW?
Before discussing the question of ‘how much does probate cost in NSW?’, it would be helpful to understand just what a grant of Probate is in NSW.
A Grant of Probate is a legal document granted by the Courts. The purpose of this grant is to allow an executor of an estate to manage a deceased estate as per the wishes of a Will.
When the maker of the Will passes away, the wishes specified in their Will must be dealt with within a specified period. What a Grant of Probate does is acknowledge that the Will in question is both valid and legal and that the executor specified in the Will is the person that is executing the Will
Do You Need a Grant Of Probate In NSW?
If You are wondering ‘how much does probate cost in NSW?’, you may benefit from knowing that there is no legal requirement to obtain Probate in NSW depending on your particular case.
This will depend on the value and size of the estate in question. Accordingly, Probate may not be required because some assets holders are happy to release small amounts with the need for a Grant of Probate.
Alternatively, in some circumstances where an estate includes more considerable assets such as shares, multiple properties, and other forms of investments, Probate will typically be required.
How Much Does Probate Cost In NSW?
If you believe you still may require Probate in NSW, the costs are outlined below. It is important to note that the price of a Grant of Probate in NSW will vary depending on the value of the estate in question.
NSW Supreme Court Filing Fees For a Grant Of Probate:
- For an estate valued at less than $100,000 no filing fee will apply.
- For estates valued in the range of $100,000 – $249,999 a filing fee of $778 will apply.
- For estates valued between $250,000 to $499,999 a filing fee of $1056 will apply.
- For estates valued between $500,000 to $999,999 a filing fee of $1620 will apply.
- For estates valued between $1000, 000 to $1,999,999 a filing fee of $2158 will apply.
- For estates valued between $2000, 000 to $4 999, 999 a filing fee of $3597 will apply.
- For estates valued at $5000,000 or more, a filing fee of $5996 will apply.
It is important to note that these filing fees will increase each year incrementally. These current figures are accurate as of 1 July 2021.
Additional Factors That Contribute To The Cost Of Probate
In NSW, there may sometimes be additional costs in addition to the Grant of Probate.
Examples of such fees include:
- Obtaining a certified copy of the Grant of Probate or Will of the deceased
- Disputing a probate application
- Depositing / Storing the Will with the Court for safekeeping
- Filing the accounts of the deceased estate
How Can I Apply For a Grant Of Probate In NSW?
To apply for a grant of Probate, you must first be an executor of an estate. If the executor has passed away or an executor was never named, any principal beneficiary may apply for a Grant of Probate in NSW. This may be done if they apply for what is known as ‘Letters of administration with the Will annexed.’
The first step to applying for a grant of Probate is for the executor of the estate to publish their intention to apply for a Grant of Probate on the NSW Online Registry.
After 14 days has elapsed, they may then apply to the Probate office of the Supreme Court.
It is important to note there are time limits involved, and applications should be made within six months of your loved one’s passing.
Importance of Seeking Legal Advice
When discussing matters such as ‘how much does probate cost in NSW,’ it is important to remember that the answer to this depends on the size of the estate in question.
If you have any further questions about a Grant of Probate, please feel free to contact our team of friendly and experienced Wills & Estates lawyers.
Here at JB Solicitors, we’ll make the process as pain-free as possible. We have fixed-fee pricing for family law, giving you a clear sense of the costs from the start, and we will be sure to help you out every step of the way.
With years of experience under our belt, we pride ourselves on making each client’s family law experience as positive as possible.
Contact JB Solicitors today to speak with one of our friendly and experienced family lawyers.
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