Probate in Ireland is the legal and formal process that allows a person (known as an executor or administrator) to deal with the assets of the deceased.
The formal and legal authority for that person to deal with the deceased’s assets is given in the form of a document known as a Grant of Probate or a Grant of Administration.
A Grant of Probate is used when the deceased has made a Will and the person with authority to deal with the deceased’s assets is known as the “Executor”.
If the deceased did not make a will the Grant is known as a Grant of Administration and the legal personal representative is known as the “Administrator”.
Is Probate always required?
It may not always be necessary to extract a Grant from the Probate Office in an estate of a deceased.
A Grant will not always be required where assets and property are held in joint names.
If the estate comprises of a bank account with less than €25,000 in the sole name of the deceased, this can often be dealt with under the Small Estates Procedure. The requirement for the Small Estates Procedure varies among the financial institutions.
If the estate comprises land or property owned solely by the deceased, then a Grant will always
be required.
How long does Probate take in Ireland?
The time scale required to complete probate will very much depend on the individual circumstances of each case. The Central Probate Office currently has a time scale of 10-16 weeks from the date papers are lodged.
Once the Grant of ProbateAdministration is issued, this formal document is then provided to the various financial institutions and the assets and monies in the estate are collected.
The law allows one year known as “the executor’s year” for the personal representative to deal with the estate. Much depends on the size and complexity of the estate and can depend on matters such as identifying and locating beneficiaries or indeed where litigation is issued against the estate.
Most straightforward probates complete within 18-24 months, however more complex cases may take more time.
Who pays the Probate costs?
The legal costs are paid from the estate. This means that the cost of Probate in Ireland is paid from the deceased’s property and assets and these costs will be paid in priority to any inheritance due to the beneficiaries.
For advice and more information, contact McElhinney & Associate Solicitors, Stranorlar, Co. Donegal – 074 91 75989.