Applying for a Grant of Probate/Administration
A Grant of Probate is required when there is a Will and where a person dies with assets. A Grant of Probate is a High Court order which gives validity to the Will and confirms the Will as the last Will of the deceased. The Grant of Probate authorises the executors to gather in and distribute the assets of your estate according to your Will.
Letters of Administration Intestate is required when there is no Will and a person dies with assets. Letters of Administration Intestate is a High Court order which gives an administrator the authority to gather in and distribute the assets of your estate according to the rules of intestacy.
When is a Grant of Probate/Letters of Administration Intestate required?
A Grant of Probate/Letters of Administration Intestate is required when a person who dies and leaves:
- property in their own name or in joint names as ‘tenants in common’. Tenants in common is where a person owns a property in common with another person or persons. Their share of the property can be left under their Will. This is different to holding a property as 'joint tenants'.
- stocks or shares or bonds in his/her own name
- insurance policies
- bank accounts where there is more than €10,000 in the account. A bank in most cases require sight of the original grant before transferring control of the money. However where the amount held is small and there are no other assets in the estate some banks may release money to the executors/administrators at their discretion.
- credit union accounts where there is no nomination and/or the amount is above a certain level
When is a Grant of Probate/Letters of Administration Intestate not needed?
A Grant of Probate/Letters of Administration Intestate may not be needed where a person dies and the only assets are:
- a small amount in their bank account. The decision as to whether the money will be released without a Grant of Probate/Letters of Administration Intestate varies with each financial institution.
- in joint names. In general, everything passes automatically to the surviving joint owner. If you are not sure what way your property is held you should find out as it may affect the gift that you leave in your Will and could result in a disappointed beneficiary.
- passing by nomination, e.g. the deceased may have signed a nomination form for their credit union account. This means that the money will pass automatically to the nominated person.
Request a Call Back or contact us directly and one of our team will discuss your Will or Estate and how we can assist you.