Buckley & Company Solicitors has been dealing with probate and the administration of estates for over ten years. Administering estates upon the death of a loved one can be a sensitive and timely process and should be handled with utmost professionalism. The executor of the will is responsible for distributing the deceased’s assets in accordance with the law and the will. If the deceased failed to make a will, the laws of intestacy will come into effect.
Probate – Having the Probate Office or District Probate Registry certify that the will is valid, that all legal, tax and financial matters are in order and the process of distributing the deceased’s estate by the executor may be commenced.
Administration – Where the deceased has died without drafting a will an administrator must be appointed under the laws of intestacy. An administrator may also be appointed in cases where there is a will but no executor exists.
Buckley & Company Solicitors provide a comprehensive service around the administration of estates, and will also look after some of the immediate issues which exist following the death of a loved one.
- Arranging for funeral expenses to be paid with the deceased’s bank/resources.
- Handling revenue returns and the gathering of information and necessary calculations prior to application for Grant of Representation.
- Application for Grant of Probate or Grant of Administration.
- Examination of beneficiaries’ rights in relation to the deceased’s estate.
- Completing tax returns including inheritance tax.
- Transfer of property name from the deceased to the beneficiary, where necessary.
- Winding up of estates including payment of debts, tax liabilities and final accounting.
- Sale of assets and distribution of proceeds.
A Grant of Representation is required in order to start administering the estate. Buckley & Company acting on behalf of the executor will apply for this grant in the form of a Grant of Probate or a Grant of Administration depending on whether the deceased has made a will and an executor exists.
Stages of Administration:
- Taking instructions and collecting information about the estate. Documentation regarding the value of all assets and debts of the deceased are valued at the date of death and is prepared for submission to the Revenue Commissioners.
- Details regarding beneficiaries and tax implications are also recorded.
- Preparation of the papers to lead to a Grant of Representation. The papers are sent to Probate Office with the probate fees.
- Grant is Issued. In the majority of cases a probate or grant of administration is issued and the collection of assets and payment of outstanding debts occurs.
- Distribution of the estate in accordance with the wishes of deceased. If there is a will the testator’s assets are divided as stated. In cases with no will this stage includes deciding what share of the estate each beneficiary is entitled to. Any certificates of discharge from CAT should be prepared while tax owed is determined and paid.