A query we also receive frequently is questions pertaining to a Grant of Probate. A Grant of Probate is a document issued by the High Court which grants authority to the executor or executors of the will, to deal with the deceased’s person’s estate. The assets will be dealt with by the executors, according to the terms of the will. The executor can apply for the Grant, but it is usually handled by a solicitor.
If there is no valid will, a person is said to have died intestate. When this happens, the nearest next of kin of the deceased at the day of the death can take out a Grant of Administration.
There are however cases where it is not necessary to take out a Grant of Probate, such as;
- If the person dies leaving small amounts of money in a bank or another financial institution in their name and the said institution agrees to release the funds without needing a grant. The decision of the financial institution is final.
- If the person dies with assets held in joint names with another or other people. It is the general rule that those assets become the sole property of the other owner. When there is doubt, the intention of the deceased when they made the joint account is considered.
- If the person dies leaving no assets, it is not necessary to extract a grant.
You can contact McCormack Solicitors on
Phone: 071 9621846
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