What are the probate costs NSW as of 2022? Financial and asset holding institutions frequently require probate so executors can transfer and distribute assets to beneficiaries. Executors are the people who oversee and handle the Will-maker’s financial affairs after his/her death.
Knowing how probate works is one thing and knowing its costs is another. This grant confirms that a will is valid and gives executors permission to distribute the deceased’s estate. For instance, the NSW Land Registry Office will restrict the transfer of the deceased’s property without a grant of probate.
Another instance is banks refusing to release the deceased’s remaining savings if the executor doesn’t show them a grant of probate. While these organisations will often give access to the deceased’s assets in alternate ways, it’s still wise to obtain this grant. Read this article to know more about probate costs NSW.
What Are Probate Costs NSW as of 2022?
Executors should know the importance of staying updated with the probate costs in NSW. After all, executors are tasked with distributing assets to rightful heirs and beneficiaries. Before doing so, executors will need to know how much they will pay for probate. According to the Supreme Court of NSW, the current probate costs in NSW are:
| ESTATE VALUE | COSTS |
| $100,000 or more, but less than $250,000 | None |
| $250,000 or more, but less than $500,000 | $802 |
| $500,000 or more, but less than $1,000,000 | $1,088 |
| $1,000,000 or more, but less than $2,000,000 | $1,669 |
| $2,000,000 or more, but less than $5,000,000 | $2,224 |
| $2,000,000 or more but less than $5,000,000 | $3,707 |
| $5,000,000 or more | $6,179 |
Meanwhile, here are other probate fees according to the Supreme Court NSW:
| Contesting probate | $1205 for standard fees and $3,298 for corporation/organisational fees |
| – Publishing an online notice to apply for a grant of probate – Administration or reseal of a grant – Notice of intended distribution or intention to file accounts | $49 |
| Amending & republishing: – Publishing an online notice to apply for a grant of probate – Administration or reseal of a grant – Notice of intended distribution or intention to file accounts | $20 |
| Search for a grant or resealing of probate | $66 (for each file searched before 1986) |
Probate Costs NSW: Grant of Probate in Common and Solemn Form
Apparently, there are two ways that courts use in issuing this grant. Executors can receive a grant of probate in common form if there are no disputes about the Will. Another condition to get a grant of probate in common form is if the grant is uncontested.
On the other hand, a grant of probate in solemn form happens if someone challenges a Will. This usually results in courtroom proceedings in order to validate a Will. People usually challenge a Will if they think that the Wil-lmaker lacked the testamentary capacity to write his/her Will. Another reason why people challenge a Will is when a person forces or unduly influences the Will-maker to make the Will.
Grant of Probate in Common Form: Case Example
The application of Peter Richard and Louise Baker (2014) is an example of a grant of probate in common form. Both parties applied for a grant since they are the executors named in the Will. The Will-maker made a Will on August 6, 2003, however, lost testamentary capacity as she aged. The Will-maker then died on May 3, 2013.
According to probate costs in NSW, executors can publish an online notice to apply for a grant. Hence, the Bakers published a website notice on the NSW Online Registry. They also provided two summons in which each beneficiary consented to the court validating the Will and undergoing probate. The bakers also prepared:
- Deceased’s estate;
- Date of her death;
- The gross estimated value of $3.040,296.03; and
- The net estimated value of $3,039,033.13
The Bakers were able to provide enough information about the deceased’s estate and value. Moreover, they were also able to get consent from beneficiaries of the Will without disputes. Hence, the court approved the application and the judge signed each page of the Will. The Will was then granted probate in common form.
Grant of Probate in Solemn Form: Case Example
Meanwhile, we also have a case example where a grant of probate in solemn form was necessary. The case of Petrovski v Nasev (2011) involved the Will of Vasilka Janakievska. Vasilka made two Wills in 1999 and 20004. The 1999 Will was executed correctly with no issues with its validity and enforceability.
However, the courts questioned the 2004 Will, and if it was valid enough to undergo probate. In order to have a valid Will, Vasilka must have had the testamentary capacity to write the 2004 Will. The court also found out that Vasilka suffered from a stroke in 2003 due to:
- Old age;
- Poor physical health; and
- Loss of mental capacity.
Vasilka’s estate was valued at $1.5 million. Unfortunately, the 2004 Will was made with undue influence and Vasilka made the Will for the sake of peace after careful examination. Finally, the judge concluded that the 2004 Will was made by undue influence. The judge then ordered that the 1999 Will receive a grant of probate in solemn form.
Approaching Probate Costs NSW with JB Solicitors
Probate costs in NSW may include people contesting a grant of probate. This will lead to people challenging a Will because of its presumed invalidity. JB Solicitors has seasoned family lawyers to help clients understand the relationship between probate costs in NSW and court proceedings. We can also aid in drafting a Will that follows state laws and regulations in order to prevent probate contests and disputes against Wills.
Moreover, disputed parties may also opt to choose our mediation services. We believe that careful consideration and communication between disputed parties will eventually lead to a proper resolution. Mediation helps parties come to an agreement that will help them better understand their dispute. We have fixed fees for people seeking to get legal advice about Wills and Estate planning.
Contact JB Solicitors today for matters revolving around probate costs Wills and Estate disputes.
