Saturday, April 15, 2017

GP vs LoA, which is easier???

There are some very clear advantages in making sure that you have a valid will in place. It is [1] cheaper to extract grant of probate (meaning, there is a will) than it is to extract Letters of Administration (where there is no will). It is also [2] faster. [3] No guarantors are required for probate.

You also [4] get to choose and specify clearly who will administer the estate and who should be the rightful guardian of children if any. You can also [5] provide for your beneficiaries in a very specific way and know that your wishes will be carried out.

It also serves to [6] avoid bickering and squabbles among family members which as we know, can be very damaging. As we have seen all too often, even families can fight bitterly, when money is involved.

We can see, it is much easier to extract Grant of Probate!



Source: KCLau.com

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