In many cases you will need to obtain a Grant of Probate, sometimes referred to as a Grant of Representation or a Grant of Letters of Administration.
Depending on the size and nature of the assets in the estate, a bank or financial institution may require you to provide them with a Grant of Probate before they will release the funds or assets to you. The requirement can arise where, for example, a bank account has as little as $15,000.00 in it at time of death.
The application for a Grant of Probate is a formal Application to the Court, involving advertisements, affidavits and exhibits. Generally, an application takes an average of 3 months. This period can easily blow out if the application is deficient in any way as the Court will not issue a Grant of Probate unless all procedure has been adhered to.
A Grant of Letters of Administration is where a person has died without a valid will (the person has died intestate). Someone will have to obtain such a Grant from the Court to enable the administration of the estate to be undertaken. Without such a Grant, banks and financial institutions will not release the assets or funds.
A Grant of Letters of Administration is a more complex application and it is strongly recommended that you seek proper legal advice before undertaking such an application.
