Where someone close to you dies, somebody has to deal with the "estate". A person's estate comprises assets (money, property and any possessions) held at the time of death. The process of Probate includes collecting any money that is owed, settling any debts due (including outstanding taxes) and dividing the estate amongst respective beneficiaries.
Assets in a deceased’s estate generally remain frozen until the Probate Registry gives authority via a document know as a Grant of Representation to the individual(s) nominated in the deceased’s Will (“the Executor(s)”). If there is no Will, then rules are applied to determine the family members entitled to act on behalf of the estate,
If there is a Will, the estate passes to the people named in the Will as beneficiaries. If there is no Will, the Rules of Intestacy will apply. These are not always well understood and can create difficulty, which is why it is often vital to ensure that you have made a will.
Whether you are an Executor or the next of kin, we can provide practical guidance to help you deal with the administration of someone's estate. We can help you determine the size of an estate for Probate and Inheritance Tax purposes. We can prepare an application for the Grant of Representation on your behalf and help you lodge the required forms with the relevant organisations to collect monies due to the estate and settle any outstanding debts.
We can arrange the transfer or sale of any shares and handle the sale of any property or land owned by the deceased.