When someone dies their "estate" has to be administered. 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 administration process involves collecting any money that is owed, settling any debts due (including outstanding taxes) and dividing the estate amongst the respective beneficiaries.
All assets (including property) in an estate will remain frozen, until the Probate Registry gives authority (known as a Grant of Representation) to the individual(s) nominated in the Will, (the "Executor"). If there is no Will, then it is up to the most appropriate member of the family member to act on behalf of the estate.
If there is a Will the estate will pass to the people named in the Will. If there is no Will, the rules of intestacy apply and will determine who benefits from the estate.
Whether you are an Executor and/or the next of kin, we can provide practical guidance to help you deal with the administration of an 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 shares and the sale of any property or land owned by the deceased.