When a person dies, then their estate must be distributed in accordance with the law and with their wishes as expressed in their Will, if they have made one. In a Will a person will appoint an executor to deal with their estate. If no Will is made, then an administrator will be appointed to deal with their estate.
In order for an executor or administrator to deal with an estate a Grant of Representation must be extracted. There are three types:
- Grant of Probate – where there is a will.
- Letter of Administration – If there is no will
- Letter of Administration with Will Annexed – if there is a will, but the executor or appointed person cannot act.
When a grant is taken out it means that the Probate office or District Registry certify that the Will is valid and that all matters (legal, financial and tax) are in order. This allows the relevant person to proceed with the job of distributing the estate.
There are a number of duties imposed on executors and administrators and these can be very complex . It is most advisable for an person appointed as executor or administrator to seek the advises of a solicitors in when dealing with the administration of an estate.
There is a duty on executors and administrators to distribute the assets as soon as possible after the death. There are also under an obligation to preserve the assets of the deceased until they are distributed and to protect the assets from devaluation
As part of their duties, they must pay the funeral expenses, pay any debts or taxes owed, call in any monies owing to the deceased, gather together all the deceased’s assets such as money, shares and property and find out their combined value. They must also make sure that make sure that ownership of property is passed on correctly and that the beneficiaries or next of kin get what they are entitled to. It is also imperative that they make sure that the spouse/civil partner and children know about their legal right share.
This is a highly complex area. At Geraghty & Co., Solicitors we have extensive experience and expertise in this area and would be delighted to advise you on any matter in respect of making a will or extracting a grant of probate. If you have any query in respect of this or any other legal matter of which we can be of assistance, please contact us herein by phone on 091-565258 or email us at email@example.com
Please note that the above information is for general purposes only and does not constitute professional legal advice. If you require specific advice on any legal matter then please contact us by phone on 091-565258 or by email firstname.lastname@example.org