Important Update: Probate Threshold is Changing!
From 24 September 2025, the threshold for when probate is required will increase from $15,000 to $40,000.
What does this mean
The increase in the threshold means banks, insurers and others will be able to distribute assets in smaller estates without the relatives and other beneficiaries of the deceased person having to go to the High Court, leaving more of an estate for the beneficiaries.
The change means small, straightforward estates can be quickly distributed without incurring court or legal costs while freeing up valuable High Court time to deal with more complex and higher value estates.
It’s important to note that this change does not reduce the importance of having a Will. Having a Will is still the only way to ensure someone’s wishes are clear, their loved ones are protected and the process is as smooth as possible regardless of estate size.
Please refer to The Ministry News website regarding this change.
