What is probate?

What is probate?
Probate is a legal document issued by the probate courts. This document assigns authority to the person or persons responsible in
(I) resolving the personal and financial affairs of the deceased and
(II) distributing inheritance to the beneficiaries.
Without this document the estate of the deceased cannot be administered. Applying for the grant of probate is the first step towards achieving this.
When you have obtained the Grant of probate then you will have access to the estate of the deceased
• “If the deceased made a Will they will have chosen whom they wished to take responsibility. This person is known as an executor.
• The Will also appoints who is entitled to inherit from the estate. Where there is a Will, the legal document issued by the probate courts is known as a grant of probate.
In the absence of a Will then the law determines who is responsible by using the rules of intestacy. These rules also applies to whom is entitled to inherit from the deceased estate. In the absence of a Will the legal document issued by the probate courts is known as grant of administration
Probate is an archaic but effective process. The right to administer the estate is granted by the probate courts once the estate is fully accounted for and any inheritance tax is paid.
The Process ensures that Inland Revenue, asset and liability holders such as banks and credit card companies and beneficiaries are protected and that someone is accountable for the correct administration of the deceased estate.