Renouncing probate
Once a person has died, the executors named in their Will generally need to apply for Probate
Often the person making a Will has appointed all of their children as executors however, as many people relocate interstate or overseas for work, it may not be practical for one or more of them to act in the role of an executor of an estate.
Being out of the jurisdiction is not a problem in relation to being an executor, but it can slow down matters as getting documents signed and in dealing with institutions and things like verification of identity can be cumbersome. There is no requirement for a named executor to act as such.
There is a process that allows one or more of the named executors to leave it to the other/s to deal with the estate – this is known as “renunciation“. So what is renouncing probate?
Renouncing probate simply means that you are renouncing the rights, powers and responsibilities of being an executor of a Will. Once you have renounced your role as executor, you may not later seek to be, or act as, executor of the estate unless the Supreme Court allows it.
To renounce your role, you must not have intermeddled (dealt with estate property) or undertaken any significant steps in relation to the estate.
FURTHER INFORMATION
For further information, please contact McKillop Legal on (02) 9521 2455 or email help@mckilloplegal.com.au
This information is general only and is not a substitute for proper legal advice. Please contact McKillop Legal to discuss your needs.
