When someone passes away, those who are left behind have to deal with their "estate". A person's estate is considered to be made up of the money, property and any possessions they had at the time of their death. The process of administration of the estate involves, amongst other things, collecting any money that is owed to the deceased, settling any debts due (including outstanding taxes) and dividing the estate amongst the beneficiaries.
All assets (including property) in an estate usually remain frozen, until the Probate Registry gives the authority (via a document know as a Grant of Representation) to the "personal representative". This personal representative could be someone named in the Will. If a person dies without leaving a valid Will then a member of the family may be able to act on behalf of the estate. Sometimes other individuals outside the family may also be able to make such applications and we will advise you appropriately in each case.
If there is a Will, the estate will pass to the people named in the Will. If there is no Will, certain rules, known as the Rules of Intestacy, will apply.
Whether you are a personal representative or a family member, we can provide practical guidance to help you deal with the administration of someone's estate. For example, we will help you determine the size of an estate for Probate and Inheritance Tax purposes. Also we will prepare an application for the Grant of Representation on your behalf, and later help you lodge the required forms with the relevant organisations to enable you to collect all monies due to the estate and settle any outstanding debts.
We can arrange for the transfer or sale of any property including shares. Our Private Client Department works closely with our Property Team to handle the sale of any property or land owned by the deceased.
If you would like our help with this, or any of the services we provide, please contact us.
