What is the difference between Leave Reserved and Renouncing Probate?

Leave Reserved

If you are appointed as Executor of a Will and you do not wish to apply for a Grant of Probate you can be named as an Executor with Leave Reserved. You would be classified as a “non proving Executor”. This means you are in a position to come in and act as an Executor if it is needed, for example if the “proving Executor” is no longer able to fulfill his/her duties as Executor. This is done by making an application to the Supreme Court of Victoria. The decision to not act as Executor when applying for a Grant of Probate would need to be decided before applying for the grant to the Supreme Court.

Renounced Executor

If you are appointed as Executor of a Will and you wish to “renounce” your appointment, this means you relinquish your rights to apply for a Grant of Probate in the Supreme Court and your role as Executor will cease in every capacity.

A Renunciation of Probate form will need to be signed and witnessed accordingly and filed with the application for the Grant. This will also need to be decided before you apply and specifically stated throughout the application itself. Once you renounce your Executorship, it is unlikely you will be reappointed if you change your mind.

For all your estate needs, contact Wollerman Shacklock on 03 9707 1155 or admin@wslegal.com.au.