Appointing the Administrator of the Will
The legal process of administering a deceased person’s estate in Cyprus is called probate. The rules for probate are set out in the Administration of Estates Law, which provides a framework for distributing the assets of the estate and settling any debts or liabilities.
The probate process typically starts with the filing of a petition with the District Court by an executor or administrator of the estate. The court will review the will and other related documents, and if satisfied with their validity, will issue a grant of probate.
The executor or administrator is responsible for identifying and gathering the deceased person’s assets, paying any outstanding debts or liabilities, notifying interested parties, and distributing the assets to the beneficiaries. Throughout the process, the executor or administrator must provide regular reports to the court on the status of the estate. Given the complexity of the probate process in Cyprus, it is advisable for the executor or administrator to seek legal advice from an experienced professional.
Validation of the Will by Administrator
The Validation Decree is issued by the Court based on the Validation of Wills (Resealing) Law (Chapter 192) and the Administration of Deceased Inheritances Law (Chapter 189). This Decree provides legal authority to the Administrator to distribute the Testator’s assets. Administration includes the power to transfer the deceased’s property and access to their bank accounts so that they can distribute the property to the legal successors. All distributions of property are made under the judicial supervision of the Court validating the Will.
To validate the Will, the following documents are required:
- The testator’s death certificate
- The details of the Successors such as name, address and ID or passport number
- The certificate of Successors issued by the Community Leader or Mayor of the area of the deceased
A Validation Decree is not required in cases where the only assets to be distributed are bank deposits equal to or less than fifteen thousand euros (€15,000).
Powers of an Administrator of the Will:
- To manage the property of the deceased.
- To collect his assets under the supervision of the Court.
- To initiate legal proceedings on behalf of the deceased.
- To pay the funeral and Will expenses.
- To pay all debts of the deceased and any taxes.
- For the administration of the estate, a bank account will be opened for the purpose of distributing the estate.
The process of administering the Testator’s estate is completed when the Administrator files with the Court the final accounts, distribution receipts and declarations signed by the legal heirs stating that they have received the property allocated to them according to the Will. The Court examines the documents and if it is satisfied that the Administration was carried out in accordance with the terms of the Will, the Administrator is relieved of his liability.
AVZ Law Office Cyprus
If the Testator did not leave behind a Will or if you are looking for an administrator for the estate of your loved one, the lawyers in our office have the appropriate experience and professionalism to explain everything to you in detail and successfully manage the estate of the Will.