Probate Estate Administration
When someone close to you dies somebody has 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 estate administration 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 the authority [via a document known as a Grant of Representation] to the individual[s] nominated in your Will, the “Executor”. If you have no Will, then it is up to the most appropriate member of the family to act on behalf of the estate [via a document known as Letters of Administration], such persons are known as "Administrators".
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 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 prepare an application for the Grant of Probate/Letters of Administration and then lodge the same with the Court. Once the Court has issued the Grant of Probate/Letters of Administration we can assist in the collecting of assets, payment of liabilities, settlement of tax issues and ultimately the distribution of the estate. This is know as the "Administration of the Estate". This may also include the transfer or sale of shares or sale of residential property.
Our Services include:
- Obtaining Grants of Probate
- Letters of Administration
- Inheritance Tax Issues
- Capital Gains Tax Issues
- Income Tax Issues
- Deeds of Family Arrangement/Deeds of Variation
- Winding up and Distribution of Estates
For more information please contact Kelly McCarthy.
If you would like more information on Probate Estate Administration please CONTACT US or fill in our Get in touch form.