Stages of Probate

Discussion in 'Wills, inheritances and gifts' started by 3littlefish, Apr 20, 2006.

  1. 3littlefish

    3littlefish Registered User

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    Hi,

    can anyone tell me when dealing with a deceased persons' estate, from the point in time that the executor/solicitor submits an affidavid to the Revenue Commissioners for CAT Clearance, typically how long does it take unitl the beneficiaries receive their inheritance?

    2 weeks, 1 month, 3 months ???

    Thanks.
     
  2. jpd

    jpd Frequent Poster

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    That depends on a multitude of things - for example, to name but a few

    what is included in the inheritence - house, shares, bank accounts, paintings, business ?
    Are the assets to be sold ?
    Any overseas assets ?
    Are whereabouts of all beneficiaries known ?
    Did deceased have any debts ?
    Is will being contested ?

    Without a lot more info, the only estimate is from 3 months to whenever!
     
  3. 3littlefish

    3littlefish Registered User

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    42
    Thanks....

    Usual assets, house, lots of shares, some cash, car etc
    All beneficiaries accounted for
    No debts
    Not sure if any assets are to be sold, perhaps some assets not specifically mentioned in the will may be sold to help meet the costs.
    Nobody contesting the will.
     
  4. jpd

    jpd Frequent Poster

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    OK, in the absence of any major problems and assuming you can make the executor and the solicitor handling the probate work at a reasonable pace (from experience, I know that this can be tricky with some solicitors and requires constant nagging, etc to make sure your file stays on or near the top of his in-tray) then I would reckon a minimum of 6/9 months and a more reasonable delay would be 1 year.

    The executor may be able to make advance payments, but it would not be usual.

    All kinds of issues come up and need to be resolved - my father-in-law had a small amount of shares but they were held in accounts in all over the place and it took ages to get the right paperwork to be able to sell them.

    There may be Capital Gains and income tax issues, if any of the assets rise in value or produce income (eg rents, dividends) during the period of administration.

    Good luck!
     
  5. 3littlefish

    3littlefish Registered User

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    You're kidding!!! 6/9 more from now?????

    This has been going on since last August. I thought now that the solicitor (also the executor) was submitting the Revenue Affidavid in the next week or so that we were coming close to the end of this process.

    Clould it really take another year from here?
     
  6. jpd

    jpd Frequent Poster

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    The steps after the submission of the revenue Affidavit are

    2) revenue checks and approves affidavit - 2-3 weeks
    3) apply for Grant of Probate - 6-10 weeks
    4) collect in assets - 4-6 weeks, more if property has to be sold - it can take a few months to sell a property, assuming all goes well
    5) discharge any liabilities (funeral expenses, ...)
    6) identify and pay any tax charges - 1-2 weeks
    7) distribute assets to beneficiaries, fill in CAT forms, etc etc
    8) prepare estate accounts

    Your solicitor should be able to go over the various stages and formalities to be executed
     
  7. cosmo

    cosmo Registered User

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    That is a very useful and accurate description JPD. This is very close to what we experienced. Hang in there 3littlefish.
     
  8. 3littlefish

    3littlefish Registered User

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    Thank you jpd. that is very helpful.
     
  9. asdfg

    asdfg Frequent Poster

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    I'm not being smart here but in case you copied this from somewhere is there a 1)
     
  10. jpd

    jpd Frequent Poster

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    Yes, there's even a few minuses but as 3littlefish was already on the road, I decided that stage 1 was where he was at (does that make any sense?)
     
  11. asdfg

    asdfg Frequent Poster

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    Fair point. Didn't see that.
    Sorry
     
  12. Lorrie

    Lorrie Frequent Poster

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    With a fairly straightforward case (1 bank account) after I submitted the affidavid to the Revenue Commissioners and got it back I sent it to the Probate court last week and on Tuesday 27/4 I got a call stating the Grant of Administration had arrived. Paid the fee and thats it done I thought it would take months also. Then again no solicitors involved applied for it myself on behalf of my dad and there was no complications. I guess all cases differ. Am very glad didn't go through a solicitor as form filling wasn't too bad and woman in court was very helpful. Also got alot of help from AAM and Oasis. So saved a few euro.
     
  13. therave

    therave Frequent Poster

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    hi Lorrie,
    just about to start a probate process could you please advise who AAM is/are.
    thanks
     
  14. LexLuthor

    LexLuthor Frequent Poster

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    AAM = Ask About Money. i.e.: this website! :)
     
  15. December

    December Frequent Poster

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    The Probate Office in general are very helpful where the estate is uncomplicated and is being taken out by a relative.
     
  16. therave

    therave Frequent Poster

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    thank you all
     
  17. 3littlefish

    3littlefish Registered User

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    Letter from solicitor to say that Grant of probate issued