Administration of Estates

The death of a loved one is a distressing time but it is important to seek proper legal assistance in administering the affairs of the deceased; ‘Administration’ is the term used where the person has died without making a will, and ‘Probate’ is used where the person has died leaving a Will.

There are a number of issues of concern to family members, Executors/ Administrators and Beneficiaries immediately following the death of family members or friends. We can attend to the legal formalities following the death of a family member:

• Ascertaining the net assets of the estate for the Revenue Commissioners
  We gather financial information and calculations of the estate of the deceased required for the completion of Revenue returns.

• Submission of Inventory to Revenue Commissioners
  Documentation is prepared by our Solicitors for submission to the Revenue Commissioners which, sets out the value of all assets and debts of the deceased valued at the date of death. Details of all beneficiaries and the estimated value of inheritances for the assessment of any tax liability are also set out.
  
  The Revenue Commissioners will then issue a Certificate of Net Value for the estate allowing us to proceed to the next stage of applying for a grant of probate to the Probate Office.

• Application for Grant of Probate/ Administration
  We will, upon receipt of Revenue Commissioners’ receipt submit all documentation to the Probate Office in application for Grant of Probate/ Administration. We respond to any queries they may have on this.

• Grant of Probate / Administration
  Once the Grant of Probate/Administration is issued from the Probate Office, we can send this to the various financial institutions where the deceased held accounts/ share etc in order to collect all of the assets of the estate.

• Complete Probate Tax & Inheritance Tax returns
  Each beneficiary of a Will must be notified of the approximate value of their inheritance and that they have to contact the Revenue Commissioners within four months of the 'Valuation Date' of their inheritance in order to make an Inheritance Tax Return. If any tax liability is not met by the Estate or by the beneficiaries, the Executor/Administrator must meet all tax liabilities. As a result, no money or assets are released to beneficiaries until Tax Clearance Certificates are obtained.

• Distribution of Estate
  These assets are then distributed in accordance with the Will (if one exists) or in accordance with the rules of intestacy (where there is no Will) which are contained in the Succession Act 1965.