Administering An Estate
We assist constructively and compassionately with the many legal and practical issues which arise when someone passes away. We guide our clients through the legal process of administering the deceased’s estate ensuring that this legal process does not make a tough situation even more difficult.
What is the “Estate”?
When someone dies, everything they own is referred to as the deceased’s “estate.” After payment of debts and taxes, the estate is divided among the beneficiaries in accordance with the deceased’s Will or if there is no Will, in accordance with the rules of law.
What is a Personal Representative?
The personal representative can be either an “executor” or an “administrator.” Executors are the people named in the Will to deal with the estate. In circumstances where someone dies without making a Will, one or more of the closest living relatives are entitled to deal with the estate. This person is known as the administrator of the estate.
What does the Personal Representative do?
The personal representative is responsible for administering the estate. Some of their main functions including the following:
- Determining what assets are in the estate and obtaining valuations
- Taking reasonable steps to secure these assets
- Finding out what debts have to be paid
At Taylor Solicitors Cork, Eleanora will explain the responsibilities of acting as a personal representative and guide you through the administration process.
What is a Grant of Representation?
A Grant of Representation is the legal document which issues from the High Court. This allows the personal representative to administer the estate. Until this document issues from the Probate Office, the personal representatives cannot generally do anything with the assets of the estate. In limited situations, it may be possible to administer an estate without taking out a grant.
Should I consult a solicitor?
Your solicitor advises you from the beginning on the steps to be taken in the administration of an estate. They will attend to the significant administrative work involved including completing the Revenue and Probate Office forms, to collecting the assets of the estate, making the various tax returns and ultimately arranging for the distribution of assets of the estate..