What Is the Cost of Probate in NSW?
The answer to this question mainly depends on the size and value of the estate in question. Depending on the estate’s value, a Grant of Probate can end up costing you absolutely nothing!
On the opposite end of the spectrum, a Grant of Probate can end up costing you upwards of $6000.
So how do you know how much it will cost you in your particular circumstances? The following article is designed to help you easily figure out just that!
What Is A Grant Of Probate & Do I Need It?
A Grant of Probate in NSW is a legal document granted by the Courts to allow an estate’s executor to manage a deceased estate in accordance with the wishes of the deceased outlined in their Will.
When the Will-maker passes away, their wishes shown in their Will must be carried out within a specified period of time. Accordingly, a Grant of Probate acknowledges that the Will is legally valid and that the executor is the person who is authorised to carry out the wishes of that Will.
Depending on your circumstances, there may be no legal requirement to obtain a Grant of Probate in NSW. This will depend on the value of the estate in question. For instance, a Grant of Probate is not required for an estate valued at less than $100,000.
Alternatively, a Grant of Probate is required where an estate in question has more considerable assets such as multiple properties, shares and other investments. The increments concerning the cost of Probate in NSW are highlighted below.
What Is The Cost Of Probate In NSW?
The cost of Probate is not set in stone and will vary depending on the estate’s value in question. The cost for a Grant of Probate comes from the associated filing fees with the Court.
In the situation you still require a Grant of Probate In NSW, the cost is highlighted below.
Grant of Probate – NSW Supreme Court Filing Fees:
No applicable filing fees for estates valued at less than $100,000.
A filing fee of $778 will apply for estates valued in the range of $100,000 – $249,999.
A filing fee of $1056 will apply for estates valued in the range of $250,000 – $499,999.
A filing fee of $1620 will apply for estates valued in the range of $500,000 – $999,999.
A filing fee of $2158 will apply for estates valued in the range of $1 000 000 – $1 999 999.
A filing fee of $3597 will apply for estates valued in the range of $2 000 000 – $4 999 999.
A filing fee of $5996 will apply for an estate valued at $5 000 000 or more.
Other Things That Add To The Cost Of Probate
There may be some additional costs beyond the filing fees for a Grant of Probate In NSW.
These costs include:
- Disputing a Grant of Probate application
- The cost of storing the Will with the Court for safekeeping
- Filing the accounts of the deceased
- Getting a certified copy of the Will of the deceased or the Grant of Probate
These additional expenses may or may not apply depending on your particular circumstances. It would be best if you spoke to an experienced Wills & Estates solicitor to determine whether you may need one or more of these.
How To Apply For a Grant Of Probate In NSW
Only an executor of the estate may apply for a Grant of Probate. However, any principal beneficiary may apply for a Grant of Probate if the executor has passed away. This can be done through a process known as ‘Letters of Administration with the Will annexed’.
If you are the executor of the estate, the first step to applying for the Grant of Probate is to publish your intention to apply for it on the NSW Online Registry. After 14 days has passed, you may then apply to the Supreme Court Probate Office.
The time limit for applications is six months within the passing of your loved one.
Importance of Seeking Legal Advice
When discussing the cost of Probate in NSW, it is essential to note that the price will vary depending on the value of your estate.
It is also important to remember that before even considering a Grant of Probate, you should seek legal advice from an experienced Wills & Estates solicitor to advise on the best steps to undertake in your particular circumstances.
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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