Listed below are some frequently asked questions to help guide you. Click on the question for more information.
What is an Estate?
Estate consists of all the property that a person owns or controls. The property might be in his or her own name, held in partnership, or jointly owned.
Estate property is also inclusive of monies that would be generated upon the person’s death, for example, life insurance.
What is Probate?
It is the legal process of administering an estate of a deceased person by determining all claims and distributing the deceased persons property under the valid Will.
In simplified terms, Probate is a formal document that confirms the executor and gives them permission to administer the estate.
What is Letters of Administration?
Letters of Administration can be granted by a court or the probate registry whereby the appropriate people are appointed to deal with a deceased persons estate.
Here, the property of the deceased will be distributed according to the laws of intestacy in force. In Fiji, the law referred to here is the Succession, Probate and Administration Act, Cap. 60.
What is an Executor?
An executor is an appointed person responsible for carrying out the wishes of a deceased person. An executor must comply with various laws and rules that govern the administration of deceased estates.
What is the role of the Executor?
The major role of the executor is to properly manage an estate within the terms of the Will and protect the assets of the estate by rightfully distributing the estate properties to the rightful appointed beneficiaries.
The duties and responsibilities of an executor may include:
- Locating the Will of the deceased.
- Applying to court for a grant of Probate of the last Will and Testament.
- Determining the right beneficiaries.
- Collecting assets.
- To make sure that all claims and debts are received, assessed and paid off.
- To distribute assets according to the terms of the Will.
- Defending litigation