Probate / Administration is a process which allows the estate (assets) of a deceased person to be distributed, and the parties who distribute the estate are known as Legal Personal Representatives (LPR’s).
In limited circumstances, e.g. where the value of an estate is minimal or where the assets are held jointly, it may be possible to distribute the estate without going through a formal Probate / Administration process.
Probate / Administration will always be required in the following circumstances:
a) Where the estate includes a property, and
b) Where a financial institution holding an account in the estate requires a Grant of Probate / Administration in advance of releasing the funds in the account i.e. for accounts that are larger than a specified sum.
If the deceased person made a Will, then the LPR’s are the Executors as nominated in the Will, and they apply for a Grant of Probate.
The Rules of Intestacy determine the order in which family members are entitled to inherit where there is no Will. If the deceased person died intestate i.e. without making a Will, then one or more of those entitled to inherit from the deceased may become the deceased’s LPR’s, and they apply for a Grant of Administration.
Those entitled to inherit from the deceased, either under a Will or on intestacy, are known as beneficiaries. As part of the application process for a Grant of Probate / Grant of Administration, their details, including their pps numbers and details of previous gifts or inheritances, must be provided.
When distributing the estate, Capital Acquisitions Tax (Gift or Inheritance Tax) returns must be made on behalf of each beneficiary whose inheritance exceeds a certain value, and to avoid penalties and interest these returns must be made and any tax liability paid on time.
Executors & Administrators of Estates
If you are the Executor or Administrator in an estate, we can help you.
a) If the estate is not complicated and if you wish to make a personal application to the Probate Office we can guide you through this process, or
b) We can make the application for a Grant of Probate / Letters of Administration on your behalf, we can collect and distribute the assets of the estate, as well as dealing with all Capital Acquisitions Tax issues arising, and
c) We can advise in relation to any queries / challenges arising in relation to the Will of the deceased, or the administration of the deceased’s estate.
If you have any queries about the Probate process, or any matter related to Wills or the Administration of Estates, or if you would like a detailed quotation Contact Us