Probate in Cyprus
A Grant of Probate is the authority given by the Courts which entitles the person named in a Will as the executor to collect the assets of a deceased person and to distribute those assets to people who are named as beneficiaries in the Will. The role of executors is important and carries with it personal responsibility. For that reason many of those appointed to carry out the requisite tasks who are not professional advisors appoint a lawyer to act on their behalf in dealing with the estate.
In order to obtain a Grant of Probate the person named as executor must establish the value of all assets and the amount of all liabilities. If the person named is not a Cypriot resident then the Court may impose its own Executor to deal with the administration. The appointment of our firm will ensure that this does not happen and we can be appointed jointly with a family member, so long as that person is named in the Will as an Executor.
A Certificate of Heirs also needs to be obtained from the Mukhtar (Mayor) of the town or village in which the person died. Thereafter the application for probate is lodged with the original Will as an exhibit. Documentation is lodged with the Taxes Office which, upon being satisfied by its content, approves the issue of the Grant of Probate. Upon issue of that document the role of the executors is to gather in the assets of the estate and pay all liabilities prior to distribution of the net estate in accordance with the provisions in the Will, to the beneficiaries.
If someone dies without a Will then it is said that they have died Intestate and the Law will determine who will to take a share in the estate. This could be relations from a previous marriage of your spouse, a situation that will do nothing but add more stress to an already stressful situation.