Probate New Zealand
What is a Grant of Probate, How long will it take to obtain Probate? What is the cost of Probate in New Zealand? Probate South Auckland
How long does it take to get probate in New Zealand?
It would normally take the High Court 4 to 6 weeks to process an application of Probate. It may take longer if the circumstance of the estate is complex. Furthermore, lawyers would require time to prepare the necessary documents which would normally take around 1 week. Therefore, it would usually take around 2 months for Probate to be granted. However, it may be delayed by various factors, for example, we need to uplift the original will from another law firm.
Probate NZ Family Search
It is a tough time for people when a loved one passes away and you are dealing with a Deceased Estate in New Zealand. If the deceased had a will, we would make an application for probate. If the deceased passed away without a will, this is called “dying intestate”, in which case an application for letters of administration will made.
The starting point is to find out whether the deceased had a valid will and whether the estate held assets greater than $15,000.00. If the estate is less than $15,000.00 in value there is no need to apply for Probate or letters of administration.
If there is no will and the estate is likely to exceed $15,000.00, we would need to search if the deceased had made a will. This can be done by advertising for the will of the deceased on the Law Society website. If another firm holds the original will of the deceased, we would need to uplift the will from that firm before we can file the application at the High Court. If no response is received within 2 to 4 weeks, we can proceed to apply for letters of administration.
6 months statutory period for probate in NZ
It is a requirement of law and a general practice that the executor of an estate would hold onto the property in estate for 6 months after the grant of Probate. It means that the executor would not distribute any property under the estate to the intended beneficiaries. This is to allow sufficient time for people who may have a potential interest in the Estate to make a claim. The potential claims may include claims from creditors of the deceased, claims under the Family Protection Act and claims under the Law Reform (Testamentary Promises) Act. It is also for executor to avoid being personally liable to potential claims against the estate because of the early distribution.
In some instances where there is unlikely to be any potential claims against the estate, an executor may distribute the estate early. In this case, the beneficiaries would be required to sign a deed of indemnity which w require the beneficiaries to repay part or all of the estate they receive if there is a valid claim made to the estate.
How much does it cost to apply for Probate in NZ?
The cost for filing the application at High Court is $200.
The cost for Probate with our firm starts at $990 plus GST to draft and prepare the application for Probate. Depending on the complexity of the estate and if you would like to obtain legal advice and/or assistance with distributing the estate, extra cost would be charged on a time and attendances basis.
What are the required documents for applying the Probate in New Zealand?
Depending on the specific circumstances of the application the probate, the required documents may differ, however, the main documents to be filed may include:
· Application for Probate without notice
This document will include the details of the deceased and the executor named in the deceased’s will and grounds for making this application.
· Affidavit of the executor(s)
This document is the testimony of the executor applying for the Probate. The executor will depose to the affidavit including the fact that he or she is the executor of the will, the decease had passed away, the will is the original copy of the deceased’s last will and that he or she will faithfully execute the will and estate of the deceased.
· Probate in common forms for sealing by the High Court
This form is to be used by the High Court. Once the Probate is granted, the registrar will stamp on the form to make it official.
· Probate in Solemn form
When the validity of a will is contested, the application for probate should be made in solemn form instead of common form. Under this situation, a court hearing will be held to determine the validity of the will.
What is the process during the application of Probate?
After all the required documents are prepared, the lawyer will file all the documents along with the original copy of the will at the High Court. All the applications relating to the probate and letters of administration are filed at High Court of Wellington.
While the application is being processed by the High Court. The lawyer will notify relevant government agencies, banks and other organisations of the passing of the deceased and to ascertain whether there are any debts, entitlements, insurance, funds in the bank accounts and other properties owned by the deceased. The lawyer will advertise a notice to creditors regarding the deceased estate for potential creditors.
Once the probate is granted, The Lawyer will arrange the uplift of funds, repayment of debts and transfer of properties of the deceased. All the transactions relating to the estate will be conducted through the firm’s trust account. Please still bear in mind that the distribution will occur after the 6 months’ statutory period has elapsed.