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What does probate mean in NZ?

What does probate mean in NZ?

Probate is an order of the High Court to confirm the last valid Will of the deceased, and also the executor’s right to administer the estate (grant of administration). Probate is now granted quite quickly – usually between four to eight weeks after the documents have been lodged at the High Court.

What happens when probate is granted NZ?

Once Probate or Letters of Administration have been granted, bank accounts can be closed and the proceeds usually paid to the lawyers administering the estate. They arrange to pay the funeral expenses and any other bills for the estate and deal with any transfers of real estate.

What does it mean to go through probate?

The legal definition of probate is “The court process by which a will is proved valid or invalid. The legal process wherein the estate of a decedent is administered.” Upon death, a person’s estate may have to go through probate. If there is a will, the court will decide if that will is valid.

Why is probate necessary if there is a will?

Probate or letters of administration will be needed so the personal representative can pass it whoever will inherit the share of the property, according to the will or the rules of intestacy. The property might have a mortgage.

What does probate mean in New Zealand law?

Probate is an order of the High Court to confirm the last valid Will of the deceased, and also the executor’s right to administer the estate (grant of administration).

Where are Maori wills probated in New Zealand?

Because the Maori Land Court had jurisdiction to probate wills and administrations for the Maori people, the original records dealing with their estates are found at: Prior to 16 June 1842, New Zealand wills were probated in New South Wales, Australia. These early original wills are held by the Supreme Court of New South Wales.

Who is the executor of a will in New Zealand?

Probate and wills. A will lists who gets property and money when someone dies. You need to be granted probate in court to be the will’s executor. An executor deals with the estate and hands out the property as set out in the will.

Where can I get a copy of my New Zealand will?

LawTalk is the official magazine of the New Zealand Law Society and every practising lawyer in New Zealand is sent a copy. The majority of High Courts only hold probate records for a period of up to 25 years. After that time, the files are sent to Archives New Zealand.