Some estates can be administered without the need for any formal processes such as a Grant of Probate or Letter of Administration. This is usually in circumstances where:
Most assets held jointly with a surviving party will automatically become the property of the surviving joint owner (there are some exceptions). There will still be steps required to complete a transfer to the surviving joint owner.
Many assets holders, such as banks and share registries, agree to make things a bit easier if they are not holding assets of any great value. They generally set a cap (most commonly less than a cap of between $15,000 – $30,000) under which they will release assets without insisting on a formal Grant of Probate or Letters of Administration. Of course, you will still need to satisfy the asset holders that you are entitled to receive the funds and they will often ask for an ‘indemnity’ to protect them if it turns out they paid to the wrong person.
