After someone dies, their Will sets out what they would like to happen to their assets and who they would like to inherit. If they have not left a Will, they are said to be intestate. Sometimes, a Will does not deal with all of a person’s assets or a beneficiary of a certain gift may have died. In this event, the estate may be partially intestate.

 

How does partial intestacy arise?

 

Unforeseen events may cause someone’s estate to be partially intestate or it may be that they have accumulated assets that are simply not included in their Will.

Partial intestacy means that some of the estate is left to beneficiaries in a Will, but some of it is not and is without a named heir.

This can happen if the deceased named a beneficiary who has since died. It may also be the case that the deceased did not adequately dispose of all of their assets in their Will. For example, their Will may deal with assets in the UK but not assets held offshore, such as in the Isle of Man.

A Will that does not include everything that the deceased owned, such as a homemade Will that says, ‘I give all my money to my wife’ will also cause partial intestacy.

This would mean that assets not referred to in the Will are intestate and will pass under the Rules of Intestacy. The part of the estate that is included in the Will can be dealt with in the normal way.

 

The Rules of Intestacy

 

The Rules of Intestacy list those who are entitled to inherit in a set order, starting with any spouse or civil partner. They will receive all of the deceased’s personal possessions if these are not otherwise disposed of in the Will. If the deceased does not have any children, then the spouse or civil partner is entitled to inherit all of the intestate part of the estate.

Where the deceased also had children, the spouse will receive the first £250,000 of the intestate part of the estate plus half of the remainder. The children will share the other half equally between them.

If the deceased did not have either a spouse or children, then other relatives are entitled to inherit, in order of preference, starting with parents, then siblings followed by half-siblings.

 

Potential difficulties arising as a result of partial intestacy

 

It may be difficult to identify who is entitled to inherit where beneficiaries have not been named in a Will and problems can arise if someone is omitted who was entitled to inherit. They may be entitled to bring a claim against the administrator, who could face personal liability.

Intestacy can also cause disagreements between family members, who may have opinions about what they believe the deceased would have wanted to happen.

The best way to avoid partial intestacy is to ensure you have a valid Will in place that was drafted by a legal expert and to review your Will regularly. If you hold assets in the Isle of Man, it is important to ensure that these are included in your Will.

It is also advisable to review your Will in the light of any major life changes, such as inheriting money, to ensure that your wishes are still the same and that all of your assets are fully disposed of.

 

Contact Our Isle of Man Wills And Probate Team

Our Isle of Man Wills and probate lawyers can ensure you have made adequate provision in your Will for all of your assets or assist you if you are dealing with someone’s estate after their death.

To speak to one of our expert advocates, ring us on 01624 665522 or email us: hello@quinnlegal.im.

If you still need to get your affairs in order have a look at our client platform which offers

 

About Patrick

Patrick is the Head of Wills & Administration at Quinn Legal

Click his photo below to find out more!

 

 

 

 

 

 

Did you know that the Isle of Man is not a part of the UK? After someone dies, their executor will often need to apply for a Grant of Probate. Where the estate includes Manx assets, a separate Grant of Probate will be needed from the Isle of Man Probate Office. Without this, the executor might not be able to deal with the Manx assets. This could include bank accounts, investment or property.

When is an Isle of Man Grant of Probate needed?

There is no legal requirement to obtain a Grant of Probate in respect of Manx assets. Some asset holders may be prepared to transfer small sums once they have been provided with a certified copy of the death certificate. However, in most cases banks and other investment holders will insist on seeing a Grant of Probate before releasing funds. This means that it is generally necessary to apply for a grant if the deceased held assets on the Isle of Man.

Estate administration and intestacy

If the deceased’s Will was made in the UK and refers only to UK assets, then their Isle of Man holdings are not included. Unless they have a separate Isle of Man Will, they will be held to have died intestate, or without a named heir, as far as their Isle of Man assets are concerned.

When someone dies intestate, their assets will pass in accordance with the Rules of Intestacy. The rules set out who is entitled to inherit in order of preference.

Where the deceased did not leave a Will, then a Grant of Letters of Administration should be applied for. This gives authority to the applicant, known as the estate administrator, to wind up the estate and finalise all financial matters.

Applying for an Isle of Man Grant of Probate or Grant of Letters of Administration

An Isle of Man Grant of Probate or Letters of Administration is obtained from the Isle of Man Probate Office. Application should be made by the executor or executors named in the Will. Where there is no Will, someone entitled to inherit under the Rules of Intestacy should apply.

If more than one executor is named, then you can decide whether one or more executors will deal with the estate administration. It can be quicker and easier for one person to deal with all matters, rather than needing all executors to sign every document. There is an option for other named executors to have power reserved to them. This means they will not be named on the Grant of Probate but could apply to be named on the Grant later on if necessary.

The application will need to be accompanied by the original Will and a certified copy of the death certificate. Where probate has been applied for in another jurisdiction, meaning the original Will is not available, a court sealed or certified copy of the Will can be sent instead and a certified copy of the Grant of Probate from the other jurisdiction should also be included.

A fee is payable on a sliding scale, depending on the value of the estate, but no Inheritance Tax payment is required in the Isle of Man. For more information, see our Isle of Man probate page.

Contact Our Isle of Man Wills And Probate Team

If you have been named as an executor in a Will and you would like to discuss your options or ask our advice about dealing with the estate administration. We will be happy to hear from you.

To speak to one of our expert Isle of Man probate advocates, ring us on 01624 665522 or email us: hello@quinnlegal.im.

 

About Patrick

Patrick is the Head of Wills & Administration at Quinn Legal

Click his photo below to find out more!

 

 

 

 

 

 

A Will often appoints more than one executor to deal with the winding up of an estate. This can help ensure that someone is available to take on the role of executor when the time comes.   But in practice it may be easier or preferable for one executor to act alone.

Where two or more executors are named in a Will, it is possible for a single executor to act alone, provided the other executors agree.

Acting As A Sole Executor

An executor is responsible for finalising someone’s affairs after their death. This includes valuing their estate, paying any outstanding bills, collecting in their assets, preparing detailed estate accounts and distributing the net estate to the beneficiaries.

The role is often time-consuming and where two or more executors are dealing with the estate it can make matters more complicated as they will all need to sign documents and agree on the actions to be taken.

There are four ways in which a Will can be administered without one of the named executors taking up their role:

• Renunciation – an executor permanently renounces their right to be an executor
• Power reserved – the executor reserves their power, so that they can choose to act at a later date if they wish
• Power of attorney – where the only possible executor cannot deal with the matter themselves, but has appointed someone to act as their attorney
• Incapacity – where the executor does not have the mental capacity to take on the role

Renunciation

If someone who was appointed as an executor does not want to be involved in the administration at all, then they can renounce probate. This involves signing a deed of renunciation confirming that they do not wish to act as an executor. It is a permanent step and the executor cannot change their mind later on once they have renounced.

If someone wishes to renounce, it is crucial that they do not do anything on behalf of the estate after the deceased’s death. Even a small task could class them as being involved in the administration. This is referred to as intermeddling and once someone has done this, they cannot renounce their appointment as executor.

Power Reserved

If an executor does not want to be involved with the administration but they would like the option of taking on this role later on if they choose, they can ask for power to be reserved. They will need to agree that the other executor(s) can apply for probate without them. The other executor(s) will serve them with a notice of power reserved and apply to the Isle of Man Probate Office on their own for the Grant of Probate. When this is issued, it will state that power has been reserved to the other executor.

It should be noted that power can only be reserved where the Will names more than one executor. If only one executor is named and they do not wish to act, they will need to renounce.

When power is reserved, it is open to the executor to opt to become involved in the estate administration at a later date if they wish.

For more information, see Dealing with an Isle of Man estate.

Contact Our Isle of Man Wills And Probate Team

If you have been named as an executor in a Will and you would like to discuss your options or ask our advice about dealing with the estate administration. We will be happy to hear from you.

To speak to one of our expert Isle of Man probate advocates, ring us on 01624 665522 or email us: hello@quinnlegal.im.

 

About Patrick

Patrick is the Head of Wills & Administration at Quinn Legal

Click his photo below to find out more!

 

 

 

 

 

 

After someone dies, it is usually necessary for their personal representative to apply for a Grant of Probate or a Grant of Letters of Administration. This is the document that gives legal authority to the estate’s executor or administrator to deal with the winding up process.  Grant of Probate explained is set out below.

What Is The Difference Between A Grant of Probate And Grant of Letters Of Administration On The Isle of Man?

If the deceased left a Will, then the executors it names are entitled to apply for a Grant of Probate. This is done by sending an application and accompanying documents to the Probate Office at the Isle of Man Courts of Justice.

Where the deceased did not leave a Will, then a Grant of Letters of Administration is needed. The estate will be inherited by close family in order of preference as set out in the Rules of Intestacy.  A main beneficiary under these Rules can apply for a Grant of Letters of Administration.

Is A Grant of Probate Always Needed?

If the deceased was domiciled in the Isle of Man or held assets in the Isle of Man then a Grant of Probate or Letters of Administration will generally be needed to enable the estate administration to be dealt with.  Unless the size of the estate is very small.

There is no set figure below which a Grant is not required.  Each bank has its own threshold above which it will ask for a Grant before closing an account and releasing funds. This is generally between £5,000 and £50,000, depending on the bank in question. If the deceased owned a property, then a Grant will be necessary to enable a sale to be dealt with.

What Is The Grant of Probate Application Process On The Isle of Man?

An application form for the appropriate Grant needs to be completed. It will need to be accompanied by a certified copy of the death certificate and the original Will, if there was one, as well as the originals of any codicils there may be.

The application needs to be sworn or affirmed by the applicant. This involves attending an advocate with the form and the Will and swearing or affirming before them that the contents are true. This can also be done at the front desk of the Probate and Tribunal Office.

The applicant must provide an address for service on the Isle of Man. Where they are not resident on the island, an Isle of Man law firm will generally be used.

The application form should then be sent to the Probate Office at the Isle of Man Courts of Justice in Douglas together with the death certificate, Will, codicils and the appropriate fee. The fee is based on the gross value of the estate. Where this has not been calculated, the maximum probate fee will be charged.
Ideally, the estate should be valued before the application is made. This means obtaining valuations of assets.  This is to include property, stocks and shares, collectibles and other assets as at the date of death.

Using The Grant of Probate – The Estate Administration Process

Obtaining the Grant of Probate or Grant of Letters of Administration is only the first step in the process of winding up an estate. Once the Grant has been received, the executor or administrator has the task of collecting in the estate assets, selling them where necessary.  For example, arranging for the sale of property, clearing any debts there may be, preparing detailed estate accounts and distributing the net estate to the beneficiaries.

This can be a time-consuming and sometimes complex process.   Where necessary, you can instruct a probate advocate to deal with this on your behalf.

Contact Our Isle of Man Probate Advocates

At Quinn Legal, we offer a range of probate services, to include application for a Grant of Probate or a Grant of Letters of Administration and estate administration.

If you would like to speak to one of our expert Isle of Man probate lawyers, call us on 01624 665522 or email us: hello@quinnlegal.im.

Alternatively, you can fill out our online questionnaire and we will contact you.

A considerable number of people still do not have a Will in place.  Meaning that their estate might not pass to their choice of beneficiary.

We take a look at some of the most common reasons people give for not having made a Will.

Reasons People Give For Not Making A Will

Haven’t got around to it

This is probably the most usual response from those who don’t have a Will. Most people are aware that it’s a good idea to plan for the future.  Addressing issues such as who your estate will pass to, how children will be cared for and provided for and who will deal with the administration of your estate when the time comes. However, setting the process in motion is often something we decide to deal with at another time.

The truth is, putting a Will in place is often a relief.  Giving you the peace of mind of knowing that everything is in order in the way that you would want, should anything happen.

A Will isn’t necessary, family will automatically inherit

While it is true that if you don’t have a Will, your spouse and children may inherit, they might not receive the shares in your estate that you wish them to have. Without a Will, the Rules of Intestacy will govern who inherits your assets. Your spouse will receive the first £250,000 of your estate plus all of your personal possessions. The remainder of your net estate will be split into two, with half going to your spouse and half shared equally between your children.

Under the Rules of Intestacy, some individuals who might be close to you will not receive anything, for example, cohabiting partners and stepchildren.

It’s complicated and expensive to put a Will in place

Some people are put off of making a Will because they are concerned that the process is not straightforward and that it may be expensive. Using an experienced Wills advocate means that it does not need to be complicated. You will be able to let them know what you want to achieve and they will be able to draft a Will that puts that into effect.

The price is generally less than people expect. At Quinn Legal, we offer competitive rates, to include fixed price packages.

Too young to make a Will, I’ll leave it until I’m older

You are entitled to make a Will once you reach the age of 18, or younger if you are a soldier on active duty or a sailor at sea. While you may think that you are too young to make a Will, you are likely to have assets of your own even if you are not a homeowner.

Your Will is an opportunity to leave your possessions to those you would like to benefit from them. This could include a car, your pet and valuable items such as jewellery as well as any money you have. You can also leave instructions relating to your digital assets and accounts.

No real assets to leave anyone anyway

You may be surprised by the extent of your assets, even if you don’t believe you have much to leave. Your estate might be entitled to receive a benefit from your employer or pension fund. You may have items that are of sentimental value and that you would like your loved ones to have. It is also often the case that a Will can provide some reassurance to your family, who will have the comfort of knowing what your wishes were.

A Will gives you the opportunity to express your preferences in respect of issues such as funeral arrangements and what you would to happen to online and digital accounts that you may hold.

I don’t have time to go and see an advocate to have a Will drafted

Having a Will drafted does not need to be a lengthy or complicated process. Once you have decided who you would like to inherit your assets and who you would like to deal with the administration of your affairs, you can contact a Wills advocate and ask them to draw up a bespoke Will on your behalf, setting out exactly what you want to happen. At Quinn Legal, we offer a range of Wills packages, to include an online Wills service. This means that you do not have to come into our offices and the whole process can be dealt with remotely, if this is easier for you.

Contact our Isle of Man Wills Advocates

If you would like to speak to one of our expert Wills lawyers in the Isle of Man, call us on 01624 665522 or email us: hello@quinnlegal.im.

Alternatively, you can fill out our online questionnaire and we will contact you.