What is the difference between a Will and Probate?
A Will and Probate are two different things, but they are linked...
When you are dealing with the loss of a loved one, you may find yourself inundated with a wealth of legal terminology and jargon that can be confusing.
One thing that confuses people is the difference between a Will and Probate. They are two different things, but they are linked.
What is a Will?
A Will is a legal document that outlines how a person’s estate (i.e. their money, property and other possessions) should be distributed upon their death.
An estate is normally made easier to deal if a valid Will is in place. It can also help to avoid family disputes.
For a Will to be valid, it has to have formal witnesses and signatures. It is best to consult with a Will expert when you are dealing with the process of drafting a Will.
What is Probate?
When a person dies, someone needs to take responsibility for executing the Will correctly. The person is usually named in the Will (as the ‘executor’). The executor(s) must apply for a “Grant of Probate” to get the authority to distribute the contents of the Will as per its instructions.
Because it can be quite technical and involve legalities, many individuals choose to get help from a professional probate expert to guide them through the process from start to finish.
Getting help can ease the stress during this trying time and ensures that the Will is executed correctly and legally…and it does not need to cost a lot of money.