Grant of Probate/Letters of Administration
A Grant of Probate is a court request formally perceiving and granting powers to the agent named in the will to be done according to the obligations expressed in the will.
Financial organizations and numerous other specialists require the Grant of Probate before permitting any conclusion of accounts or dealing with ownerships assets.
In the prices of assets such as stocks and shares, real estate, motor vehicles where prices fluctuate, obtaining a grant early would be advantageous. The executor can decide when to liquidate them, thus taking advantage of the price fluctuations.
The main documents required needed to apply for the Grant of probate in Singapore are:
1. Original / Unique copy of the Will
2. Original/Unique Death Certificate of the deceased person
3. ‘Schedule of Assets’ providing details of resources/assets owned by the deceased.
For an estate of under $3 million, the application will be taken care of by the Family Justice Courts of Singapore though the High Court handles estate surpassing $3 million. There are certain documents and statements to be documented with the respective court, which requires complete accuracy.
Court request called in the form of Grant of Letters of Probate and Administration authoritatively recognizes and transfers powers to the closest relative to complete the obligations as indicated by the Intestate Succession Act, Chapter 146.
Monetary establishments and numerous different authorities require the Grant of Letters of Probate and Administration before permitting any closure of records or transfer of ownership of properties.
Priority is given to the next closest relative to apply for the request.
For a married individual, the spouse is given priority over the kids. The surviving spouse of a married individual who left behind young kids (below 21 years of age) needs to apply with another person called a co-administrator. Two guarantees (underwriters)are also required before the court grants the request.
For a single person, the guardian is given priority over the siblings. Both parents of the perished single person must apply for the court order mutually. Demised testament of the deceased person must be produced if either of the parents is deceased. Both parents must renounce their privileges if any of the deceased’s brother or sister is to apply the request in place of the parents. If both parents/guardians are deceased, then all surviving siblings of a deceased single individual can apply, having equal rights.
The main records needed to apply for the Letter of organization in Singapore are:
1. Death certificate (kindly show the religion of the expired);
2. Complete name, IC number and contact number of closest relative applying the court request;
3. Complete names, IC numbers and date of birth of the multitude of recipients;
4. “Schedule of Assets”, giving details of resources owned by the deceased.
Please call us for a free consultation. All the Probate and Letters of Administration matters are dealt with by our board of attorneys.
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