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Since the introduction of the Inheritance (Guernsey) Law, 2011, individuals can leave their assets (both personal estate and real estate) to whomever they wish. It is therefore paramount to leave a Will in order, so that your assets are protected and left to the desired recipients.
Any jointly owned assets will usually pass automatically to the survivor. An exception to this is in the case of real property, also known as real estate, i.e a house or land, would depend on how the property was ‘vested’ at the time of purchase.
In the instance that you do not leave a Will setting out your wishes, you may find that your spouse or partner is not automatically entitled to the whole or a share in your Estate. Equally, if you own real property and have not left a Will, the process for dealing with your Estate must go through the Courts. Your heirs would be required to make an application to the Royal Court of Guernsey for an Administration Order to enable them to sell the property. The nominated Administrator under that Order has certain liabilities and obligations that they will have to fulfil. Further, an application may be required to the Ecclesiastical Court in Guernsey (the Guernsey Probate Registry) to enable access to your bank accounts and any investments held in your name.
With no Will, the person authorised to administer your Estate would further need to swear an Affidavit of Intestacy before a Guernsey Advocate.
Both making a Will and keeping a Will up to date is very important and can take a great deal of stress away from your desired heirs when winding up your Estate.
When making your Will, you would nominate an Executor/Executrix (being your personal representative) to administer your Estate following your wishes. The nominated person can be a family member, any individual third party, Advocates or other professionals who can act as Executors or Administrators of the Estate of a deceased person.
These are matters we frequently deal with at ABT Advocates. If you are thinking of making a Will and would like advice or support, or would like assistance with Administration of an Estate, please get in touch.
