Victoria is a state geographically located on Australia’s southeastern coast. South Australia borders it to the west, New South Wales to the north, and the Tasman Sea to the south. It is the second-smallest state in the country, with a total land area of 237,659 square kilometres. However, it is one of the densely populated states, with over 6.6 million inhabitants.
The state of Victoria is Australia’s second-largest economy and one of the most livable in the country. Thanks to its finance system—the largest income-producing sector of the state—and an efficient judicial system. Because of this, legal processes such as probate are administered effectively.
If you happen to be applying for a probate VIC grant, you have come to the right place. This article will talk about the probate grants in Victoria, and the essential things you need to know about it.
What is a Probate Grant?
A probate is a term used in the legal system to describe the process of reviewing a certain will to determine its validity and authenticity. Also, probate refers to the administration of a deceased individual’s will or the processing of the estate of a deceased individual without a will.
According to an article by the Supreme Court of Victoria, a “grant of probate” or probate grant is needed by the next of kin or executor of a deceased person to deal with an estate that has been left behind.
How Do I Obtain a Probate Grant in Victoria?
According to Victoria’s legal system, there are three ways for you to obtain a probate grant. You could either instruct a solicitor, authorise a trustee company to act as an administrator, or make the application yourself.
Recent reports show that more than 90% of applications filed for probate grants are filed by solicitors or Trustee Companies, and this is no surprise. Application for a probate VIC grant is such a difficult and taxing process that individuals choose consultants to do the work for them.
What Are the Requirements for a Probate Grant?
Applying for a probate grant in Victoria requires quite a lot of daunting steps:
You will need to advertise your intention to apply, which can take several days.
You have to draft an application that requires you to generate documents, such as an inventory of assets and liabilities.
You will need to prepare other supporting documents and the lodging process.
Unfortunately, these steps should not be taken lightly considering the strict requirements of Victoria’s Supreme Court. Because of this, processing a probate grant requires great knowledge so that you don’t make mistakes when processing them. Fortunately, probate consultants provide a solution to this predicament.
What Are Probate Consultants?
Probate consultants are professionals that have the same function as probate lawyers but without the excessive legal fees. These individuals are knowledgeable and experienced when it comes to processing probate in Victoria.
Hiring probate consultants provides you with an efficient and cost-effective process in probate administration. By having consultants in your corner, you no longer have to worry about the tedious process of probate application and processing. In this way, you will have peace-of-mind and experience no stress during the estate or will administration.
Applying for a grant of probate in the state of Victoria is one of the most difficult processes to do, but this should not be the case. Check out a reputable consulting firm in Victoria today, and start outsourcing your processing problems to the experts!