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Where there is a Will: Grant of Probate

by | Jul 29, 2022 | Probate

If a deceased makes a valid Will prior to his death, the personal representative is called an Executor.

A Grant of Probate is a court order that recognises and gives power to the Executor named in a Will to carry out the duties as stated in the Will.

Banks and insurance companies require the Grant of Probate before allowing any closure of accounts or transfer of ownership of assets.

The main documents required to apply for the Grant of Probate in Singapore are:

  1.  Original copy of the Will;
  2.  Original Death Certificate of the deceased;
  3.  “Schedule of Assets” providing details of assets owned by the deceased.

For estate of less than $3 million, the application will be handled by the Family Justice Courts of Singapore whereas High Court handles estate exceeding $3 million.  There are certain documents and affidavits to be filed with the respective court which requires complete accuracy.

 

The Duties of the Executor

Depending on the contents of the Will, the duties of the Executor may include the following:

  1. Apply for probate;
  2. Extract the Grant of Probate;
  3. Make arrangements for the funeral of the deceased;
  4. Determine the total assets and liabilities of the deceased;
  5. Resolve the outstanding income tax liability of the deceased, according to section 58 of the Income Tax Act;
  6. Pursue any debts owed to the deceased;
  7. Resolve any debts or liabilities of the deceased. In the case of an insolvent estate, the order of priority in the repayment of debts can be found in the Bankruptcy Act, after fulfillment of the First Schedule of the Probate and Administration Act. In the case of a solvent estate, the order of repayment can be found in the Second Schedule of the Probate and Administration Act;
  8. Distribute the assets to the beneficiaries or their respective guardians, in accordance to the will.

 

For more information Grant of Probate in Singapore, kindly call Ray Louis Law at +65-65572725.

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