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Many people don’t realise the importance of Probate – a lot don’t even know what Probate means
Do you know what Probate is? If the answer is no, you’re certainly not alone. Most people can tell you what a Will is, but did you know that often a Will can’t be effected until Probate has been granted by the Supreme Court?
So what is Probate?
Probate is the Order made by the Supreme Court of New South Wales that allows the Executor (the person appointed by the Will maker to manage his/her estate) to act in accordance with the Will and distribute the assets to the beneficiaries. In most cases Probate is the first step in the process of administering a Will.
In simple terms, when a loved one dies and leaves behind a Will, Probate gives their Executor the right to manage and distribute their assets, such as real estate and money held in bank accounts.
If you have lost a loved one and you need to apply for Probate, contact Aubrey Brown.