Hi Petermark,
The cheapest option is not getting probate at all. In some cases, depending on what is included in the estate, probate may not be required for administration.
Is there only real property to distribute from the estate? If so, you may be able to get away without probate. Was the property owned by the deceased solely? Or were they joint tenants with someone else? Real property can be transferred without a Grant (1) if the property is owned as Joint Tenants on the Land Title, (2) alternatively a property may be transferred without Probate if the deceased has a valid last Will and Testament.
If there other other assets such as bank accounts, you may still be able to withdraw these funds without probate as well. There are legal thresholds for how much executors can obtain - each bank has its own threshold and often its at the discretion of the bank whether they let you have it or not.
However, if there is something for which you definitely require probate, the cheapest option is self representing or getting a DIY kit. Any probate will at a minimum incur the following fees:
The cheapest option is not getting probate at all. In some cases, depending on what is included in the estate, probate may not be required for administration.
Is there only real property to distribute from the estate? If so, you may be able to get away without probate. Was the property owned by the deceased solely? Or were they joint tenants with someone else? Real property can be transferred without a Grant (1) if the property is owned as Joint Tenants on the Land Title, (2) alternatively a property may be transferred without Probate if the deceased has a valid last Will and Testament.
If there other other assets such as bank accounts, you may still be able to withdraw these funds without probate as well. There are legal thresholds for how much executors can obtain - each bank has its own threshold and often its at the discretion of the bank whether they let you have it or not.
However, if there is something for which you definitely require probate, the cheapest option is self representing or getting a DIY kit. Any probate will at a minimum incur the following fees:
- Supreme Court Filing Fee - $659.70 (Concession Card Holders - $120.30)
- Advertisement: Queensland Law Reporter – $161.70
- Advertisement: Local Newspaper - $200-$500)
My understanding is that in Victoria, a grant of probate or administration is required prior to real property being transferred from the estate's legal representative to a beneficiary if the property is not owned as joint tenants. The grant of probate indicates that the will is valid.
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