Deceased Estates and Affairs
The passing of a loved one is a very sad and difficult time in our lives, and the task of having to deal with their property and affairs can be daunting. Your Solicitor can guide you through the process and help you comply with your legal obligations in this important role.
The Deceased’s Estate
The estate consists of assets held in the deceased person’s name at their date of death i.e. property, bank accounts, credit union or post office accounts, policies, investments, shares etc. After payment of debts, including outstanding taxes, the estate is divided among the beneficiaries in accordance with the deceased’s Will or if there is no Will, according to intestacy laws.
A Personal Representative
A personal representative is the person responsible for administering the deceased’s estate. They can be either an Executor or Administrator. Executors are the people named in the Will of the deceased to deal with the estate. Where a person dies without having made a Will, the person dealing with the estate is called an Administrator.
Grants of Representation
The grant of representation is a legal document that permits the Executor/Administrator to administer the deceased person’s estate. If there is a Will, a ‘Grant of Probate’ may be required, and if there is no Will, the grant is known as ‘Letters of Administration’. Your Solicitor will advise if it is necessary to obtain a Grant, depending on the deceased’s circumstances.
What is involved?
- The first step is to locate and examine the Will. If there is no Will, your Solicitor will require a list of all the next of kin of the deceased.
- You will need to provide your Solicitor will a full list of the deceased’s assets and liabilities as of the date of death, and other documents, such as the Death Certificate, and details of any beneficiaries.
- Once your Solicitor has all the relevant information they can prepare, and submit on your behalf, a Statement of Affairs to Revenue Commissioners. If needed they can then also prepare and file the legal documents with the High Court Probate Office to obtain the necessary grant of representation.
- Your Solicitor will engage with the relevant government agencies, e.g. the Department of Social Protection, Income Tax Department of the Revenue Commissions, and the HSE Nursing Home Support/Fair Deal Scheme, to obtain the necessary clearances required to complete the administration of the estate.
- They will advise you and the intended beneficiaries of any inheritance tax (capital acquisition tax / C.A.T.) liabilities that may arise, and the obligations to file tax returns with the Revenue Commissioners, and any payments, if required.
- Once the grant of representation issues from the High Court Probate Office, the legal documents necessary to distribute the estate property, monies etc can be processed so that these assets can be passed on to the beneficiaries in accordance with the deceased`s Will or intestacy rules.
The work involved in administering an estate can be overwhelming. Your Solicitor can make the process as easy and seamless as possible for you and the intended beneficiaries. Email us at firstname.lastname@example.org to discuss how our Probate Solicitors can help you.