Having an experienced solicitor handle the drafting and execution of a Will along with the Grant of Probate can make a difference during what can be a very difficult time for a family.
Preparing your will and making your wishes clear and straightforward is what we do at Corcoran & Company Solicitors in Dublin. We can identify potential issues, such as tax and inheritance matters, and advise you on how to avoid them when making a will.
Our team of experienced solicitors will help you draft an effective will, handle the Grant of Probate when the time comes, and deal with any problems that may arise for your family.
Working with an experienced probate solicitor avoids many problems with a will and Grant of Probate when the time comes.
Applying for a Grant of Probate
The executor must apply for a Grant of Probate before the assets in the will, minus costs and payments of taxes and debts, are distributed among the named beneficiaries.
The application is made through the Probate Office in Dublin, usually by the solicitor handling the will, though the family can do it by themselves.
When the Grant of Probate is given, the instructions of the will can be carried out according to the wishes of the deceased.
Letters of Administration
If someone dies without leaving a valid will, a family member must apply to the Probate Office for authority to handle the deceased’s estate.
The Grant of Administration Intestate, as it is also known, gives the applicant legal authority to deal with financial institutions and the Land Registry to identify the deceased’s assets.
The aftermath of someone dying without leaving a valid will is complex and best dealt with by a solicitor.
Intestacy
Intestacy is that age-old problem of a person dying without leaving a will or a valid will.
A person who dies intestate is leaving a lot of headaches for their family. Leaving a will makes sense and ensures those left behind benefit according to your wishes.
If a person does die intestate, Corcoran & Company Solicitors can deal with what happens next and carry out the distribution of an estate according to Irish law.
Administration of Estates
Administration of an Estate is when the assets are gathered, the debts and liabilities are identified, and what is available for distribution to the named beneficiaries is calculated.
The Executor of the Will is the named person responsible for the administration of an estate, but the process is full of legal responsibilities and the administration is usually handled by a solicitor to avoid errors and complications.
The Executor is legally responsible for carrying out the wishes contained in the will and can avoid mistakes by appointing a solicitor.
Executor Advice
Giving Executor Advice is where a good probate solicitor comes into their own. The executor is responsible for carrying out the will according to the law, including tax matters.
A good probate solicitor can give the advice needed on all aspects of the will, from applying for Grant of Probate to distributing assets in line with the law.
Getting an issue wrong when executing a will can lead to delays, tax bills, legal headaches and cause family disputes.
Estate Distribution
Estate distribution is when the solicitor prepares the assets of the estate for distribution to the people as listed in the will or according to probate law in a case of intestacy.
There is much to the process, and the solicitor will need to work with the banks, Revenue and other institutions before the estate is ready for distribution.
The solicitor contacts each person listed and transfers their share of the remaining assets to a nominated bank account.
Selling an inherited property
Selling an inherited property can open you to inheritance tax liability or capital gains tax in some circumstances. It may be better to sell a property or properties as soon as possible to keep the process transparent and deal with everything at the one time.
There can also be issues with occupation of the property, a relative may still live in it, and problems can arise with inheritance and ownership of the property according to the Land Registry.
A solicitor can advise on what to do with an inherited property, if it is in your interests to sell or retain the premises and any tax liability you may have from it.
Will disputes and contested estates
Will disputes and contested estates happen, but a correctly drafted will can avoid many problems before they arise. Sitting down with a good probate solicitor and going on their advice can clear the air before you pass away.
When a will dispute or a contested estate happens, the case can often end up in court. Many families can see an inheritance disappear in paying legal fees. A dispute may last generations.
The advice of a good probate solicitor can be invaluable at this time, and the solicitor can be the cool head who steers the family through the troubles of a disputed will.
Probate fees and likely costs
Probate fees and likely costs can add up if you are not careful in dealing with a will and distributing an estate.
It is best to sit down with a probate solicitor to understand their fees, where costs can come from, and when they may be higher than expected. A disputed will can add to costs, as can problems with paperwork and sourcing all bank accounts or property deeds.
Fixed costs, such as applying for probate and letter writing should be clear and be part of the process.
Expected timescales
If everything is straightforward with little to deal with in an estate, then the expected timescale of probate and will distribution can be only a matter of 6 to 12 months in Ireland.
Delays can happen with the Probate Office, or if you need to clarify property ownership and other legal issues. If beneficiaries live abroad or are difficult to contact, this can cause further delays.
When there are disputes, the process can go on for years, though some disputes can be solved by a meeting.
Your probate solicitor will be the best guide for expected timescales with Probate.
What documents an executor needs
The executor of a will needs many documents to finalise the deceased’s wishes and distribute assets to beneficiaries.
Types of documents needed:
In complicated wills and contested wills, there may be other documents needed, but your Corcoran & Company solicitor will know what to ask for when handling probate for the family.