FAQ INHERITANCE
PROBATES
1. What is probate?
Probate is the legal process of administering a Deceased’s estate. It includes validating the will (if applicable), obtaining probate court order, estate search, managing estate, settling debts, paying taxes, and distributing assets to beneficiaries, by the appointed Executor or Administrator of the probate.
2. Do I need probate if there is a will?
Yes, probate is required to give legal authority to the Executor named in the will to manage the estate.
3. Is probate required in Cyprus?
Yes, probate is generally required in Cyprus if the deceased owned assets in Cyprus, especially when it comes to Estate of Internationals.
However, in some Small or Straightforward Estates of Cyprus Nationals, probate may Not be necessary.
4. What happens if someone dies without a Will?
If there a person is considered to have died intestate, the estate is distributed according to the applicable law of succession. The interested party/ies , usually close relatives, are able to initiate the proceedings by appointing an Administrator.
5. Who might be appointed as an Executor or Administrator of a Probate?
The Executor or the Administrator of a Probate might be any person, trusted family member, or a lawyer, having the legal knowledge and experience in managing estates and handling probate procedures.
Also, an Executor or Administrator is also able to appoint a lawyer, as lawyer of the probate, while (s)he still holds the position of the Executor or Administrator.
* Important Note: The appointed Executor or Administrator of the Probate is required by the Law to be permanent resident in Cyprus, so that (s)he be easily accessible.
This requirement is been imposed due to the high level of responsibility burdening the Executor’s or Administrator’s shoulders to act in good faith and in compliance with the Laws.
6. Is it possible for the Executor of the Will to relinquish his/her position in favour of someone else?
Yes, an Executor in a Will may relinquish their position in favour of someone able to commence and conclude probate in Cyprus.
7. Do We undertake the position of the probate’s Executor or Administrator or Lawyer?
Yes, we do undertake the position of the probate’s Executor or Administrator or Lawyer and their duties and responsibilities, offering high standards of trust and loyalty, assisting our clients in the smooth handling of the Estate of their loved ones.
8. How many persons is possible to be appointed as Executors or Administrators?
–Usually, one (1) is appointed as Executor or Administrator.
-In cases of complexity of the estate or family conflicts, usually two (2) persons are appointed as Executors or Administrators.
-The Law allows up to four (4) persons to be appointed as Executors or Administrators.
-Specific requirements are applied under specific circumstances, such as minor children.
9. What measures is an interested party, such as an heir, in the Estate of the Probate able to take if (s)he does not agree with the appointment of the Administrator?
If an interested party does not agree, (s)he can submit an objection to the Appointment of the specific person as an Administrator, usually through his/her lawyer, known as a “caveat” at the Probates Court Registrar and the District Court will examine the objection and decide whether or not to approve the Appointment of the specific person as Administrator.
10. How long does probate take to be concluded?
The probate process can take anywhere from a few months to over a year, depending on the complexity of the estate, whether there’s a will, and if any disputes arise. On average, expect 8–24 months for conclusion.
11. Why instruct a lawyer instead of handling the estate probate personally?
Instructing a Cyprus lawyer for probate matters provides legal expertise, ensures compliance with local laws, facilitates a smoother estate administration process, relieves from huge responsibility and emotional burdens, saves time, reduces stress, and avoids costly mistakes.
12. How much does a Probate cost?
Costs can vary depending on the value and complexity of the estate and the services provided. There will be:
- Legal fees for handling the Probate from the initial to the final stages.
- Disbursements of usually small amounts:
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- Probate Court fees (stamps, certifications, etc.).
- Search Fees (Land Registry, Road Transport, etc.).
- Estate Transfer Fees (Land Registry, etc.).
- Taxes and estate management costs.