FAQ

It is likely that you will be required to obtain Probate if the deceased had sole ownership of real estate, held shares in a publicly traded company, held funds at a financial institution solely in his or her name, or if he or she died without a Will. Many financial institutions require probate as proof that the Estate Trustee is authorized to receive the funds.

There are different types of costs associated with your Application for probate including:

• Estate Administration Tax (ETA) payable to the Minister of Finance based on the value of the Estate;
• Legal fees to complete your Application; and
• Any other expenses associated with completing the Application, including courier and fees to locate beneficiaries.

You can still apply for Probate when there is no Will, but the person who can be appointed as Estate Trustee is set out in law. If there is a person who has a higher right to apply than you based on the law, they must renounce their right to apply. These applications tend to be more complex.

Depending on the jurisdiction where you are required to submit the application for Probate, it can take weeks to months to obtain the Certificate from the Court. Before submitting the application, the Estate Trustee must gather all of the information related to the value of the estate, the deceased, and the beneficiaries and the application needs to be prepared.

Generally, debts such as credit cards or lines of credit are not deductible from the value of the estate. However, a mortgage or lien on a property can be deducted from the value of the estate.