Probate Planning
Probate in Singapore
Probate is the procedure of registering the Will of the deceased in the Supreme Court of the country and takes the charge of executing the Will. In order for a person to gain access to this facility, he/she has to get a document known as the ‘Grant of Probate’ from the court. In order for the banks to release the details about the possessions of the departed, the ‘Grant of Probate’ is being provided as a proof to the bank.
Where To Apply For Grant Of Probate In Singapore
In order to apply for the Grant of Probate for estates valued below SGD 3 million, the application has to be submitted to the State Courts. For estates valued above SGD 3 million, the application has to be submitted to the High Court. If the estate is valued below SGD50,000, it can be dealt with at the Public Trustee’s Office.
How To Apply For Grant Of Probate In Singapore
As there are complexities in the procedure so it is highly recommended to appoint a lawyer to assist on this issue. The detailed step by step procedure to do the same is as follows:
- Collecting all of the important documents such as the Death Certificate, Inheritance Certificate and other relevant documents in order to proceed on with the application.
- Submitting the Schedule of Assets to the Court
- Confirming on whether the Court would require any guarantees as such. If so, then the Affidavit of Justification has to be submitted which follows on with the issuance of the Administration Bond to extract the Grant. If no assurance documents are required, next would be to progress on to the “Request to Extract Grant” stage.
- Finally, the Grant of Probate and/or Letters of Administration would be issued.
Repudiating The Grant Of Probate
It is possible to withdraw oneself from the Grant of Probate. In order to do so, he/she has to follow the steps stated under Section 3 of the Probate and Administration Act of Singapore. This can be done only orally or by signing a document in order to confirm the same.
What does the executor do?
Once the Grant of Probate is being obtained by the executor, these are the following tasks that have to be carried out based on how the Will has been drafted beforehand.
- Make funeral arrangements for the deceased
- Apply and extract Grant of Probate
- Tally the number of total assets and liabilities of the departed
- Resolve debts and outstanding liabilities
- Distribute the assets among the beneficiaries according to the Will
If There Are Disagreements
On The Will?
If someone is not content with the will he/she can submit an admonition in the court and then accordingly there will be probate proceedings taking place that will decide the fate of the Will –if it is still valid or not. If it has been declared invalid, then the property will be distributed according to the law of the land. However, the allegations have to be made on valid and strong proof or else it would not be accepted.
Letters Of Administration
In the case there is no Will left behind by the deceased, an application for the Grant of Letters of Administration may be made by any surviving family member such as his/her parents, brothers, sisters or any other close relative of the deceased. The letter holder or the Administrator would perform the same duties as those of the executor of the Will under the Grant of Probate in the presence of a Will.
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