PROBATE
Probate means the copy of a will certified under the seal of a Court of competent jurisdiction with a grant of administration to the estate of the testator. Under the Indian Succession Act, a probate of will can be granted only to the executor appointed under a will. If the executor not available to administer the estate, an application must be made. The application has to be made for appointing the same by the court before applying for probate. A probate of will is a must when the will is for immovable assets in Mumbai, Kolkata or Chennai. Further, a probate is essential if the Will is for immovable assets in multiple states.
Importance of a Probate
It has been established that a probate legalizes a will or the executor of the will to transfer the properties in the names of individuals to whom the property is bequeathed.
However, there are reasons as to why a probate might become crucial.
Probate is issued for a will or any codicil attached, by persons of Indian Hindu, Parsis, Buddhists, Sikhs or Jains, primarily in the cities of Chennai, Kolkata and Mumbai.
In case the will made outside these territories, but for assets situated inside, it would still require a Probate. A probate is completely different from the Letter of Administration.
Application of Probate of will
The probates are granted to the executor or executors (in succession, in case more than one is named), by the High Court, with a copy of the will attached.
One can apply for a probate after seven days of the death of the Testator. (or the person who makes the will and also the owner of the property to be distributed).
The application for probate, need to make with the help of a lawyer or an advocate, to the High Court, under whose jurisdiction the property might fall. Although a lower court may empowered to supply a probate for immovable properties of a small value, a probate from a higher court thus required for high-value immovable assets.
Documents Required for Probate
While submitting a probate application, Certain documents are thus needed to submit which proves that:
- a. The will is genuine and the last will made by the testator.
- b. The proof of death of the testator.
- c. That the will validly executed in clear conscience of the testator.
Grant of Probate
Once the application is submitted, it will be verified by the authorities and letters (notifications) sent out to the nearest kin of the deceased, intimating them of the issue of probate. A general notice is published for the public to view, and giving an opportunity for raising any objections to the grant of probate.
Probate of will issued if no objections are received from any kin or any general public, and done after the court fees are paid. The court fees depend upon the value of the immovable assets.
A probate, though it takes time to obtain and may cost a tiny percentage of the inheritance (court fees + the lawyer’s fees), is essential, if there are multiple assets to handle, and those immovable properties are present in various states. Also, a probate is a completely fool-proof way of the handling such a matter and imperative when high-value properties are being dealt with.
Notification
After receiving the petition for a probate, the court issues a notice to the next of kin of the deceased to file objections, if any, to the granting of the probate. It also directs the publication of a citation on board to notify the general public.
Common Reasons Probate Is Necessary
If there was no will, probate is necessary
If there was no will, probate is necessary. Probate helps to determine the beneficiaries and to distribute the decedent’s assets and title to property.
A valid will exists.
In order for the assets of an estate (excluding some smaller estates) to properly distributed to the named beneficiaries. A valid will must go through probate.
Probate of will necessary when there are problems with an existing will.
Some of these issues may include: the submitted will is not the final version toe considered; there are mistakes in the will or it was fraudulently executed; the will then drafted was at a time when the testator was not of sound mind; or any other challenges to the integrity of the will.
Probate of will required when an estate’s assets are solely in the deceased’s name.
In most cases, if the deceased owned property that had no other names attached, an estate must go through probate in order to transfer the property into the name(s) of any beneficiaries.
When there are no beneficiaries named or they have predeceased the decedent, probate is necessary.
This situation applies to any retirement or savings accounts such as IRA or life insurance policies that would pay out to beneficiaries. If beneficiaries are not named or are all predeceased, probate will be required in order to transfer funds or titles into beneficiaries names.
Few simple steps and you can get the Probate of the will done :
- Please do connect to our Customer Care Executive at 9830648068/8017053224. You may also mail your queries to [email protected]. Live chat is functional on our website from 10:30 am to 7:00 pm on weekdays.
- A quotation shall be emailed to you after taking all necessary information from your end
- After approval of the quotation, the agreed charges will need to be deposited by you.
- The procedure for probate will then be initiated.
