Probate Explained

Probate is the word used to describe the legal process of administering the estate of a person who has died, and, after deducting debts and other liabilities, transferring that person's money and possessions to the people who will inherit them: their beneficiaries.

There are three main stages in the process of Probate:

1. Collecting the information about all of the assets and liabilities of the deceased
2. Preparing the statutory Tax Returns and the application to the Probate Registry for the Grant of Probate
3. Gathering in the assets, paying the liabilities and expenses, and distributing the estate to the Beneficiaries

What is probate?