Losing a Will can have substantial consequences and be potentially costly for your estate and beneficiaries. Despite wise efforts to safeguard it in a document registry or at home, the risk of misplacing the Will persists. The question then arises: what unfolds when the original Will is lost?
In the event of your passing, your executor or beneficiaries may need to apply to the Court for a Grant of Probate to enable the administration of your estate. A critical requirement for this process is the production of the original Will to the Court. Even when Probate is deemed unnecessary, the original Will may still be essential for dealing with your assets after your passing.
Suppose the original Will cannot be found. In that case, the Court presumes that the Will has been revoked and destroyed. While it is possible to use a copy of the Will in an application for Probate, the applicant must prove that the Will was not revoked to obtain a Grant of Probate in relation to the copy Will. That application can prove costly for the estate in terms of solicitors and court fees. If the Court rejects the copy, the estate might have no alternative but to apply for letters of administration, distributing assets based on an archaic legislative formula.
It is advisable to keep track of your Will's location. Although you are not obligated to disclose its contents to your executor or beneficiaries, informing them of the whereabouts of the original Will is a wise step to avoid potential complications.
