Do you know how different if you have it and if you don't?

We talked about the differences between with and without a will previously, mainly on the timing.

Today, we are going to look at how different are they in term of procedures.

1. With will just need an executor (which already appointed in the will);
   Without a will, family members have to choose one or two administrator(s) - depend on the situation. ==> yup, this will take you some period to choose the correct person, and if they are willing!
2. Without a will, the administrator(s) have to value the estate.
3. Without a will, you will need to provide two sureties (please refer my post about sureties for more details)
4. With a will, Grant of Probate needed to be applied. While Letter of Administration will be needed for intestacy.

Note that #2 & #3 are not needed if the deceased has a will.
These are brief procedures for both processes. Do refer here for more details procedure.

 

Picture credited to : http://greatwealthsolution.blogspot.my/2014/12/will-writing.html