This is an arrangement where the asset owner dies intestate (without a Will) or without naming Executors in his/her Will. Where a person passes and is said to be intestate, the administration of his/her Estate by the Administrators will be based on fairness, equity, objectivity, good conscience and reasonableness. Estate Administration service is similar to Executorship service, the difference under each is there is a Will for administering the estate under executorship while there is no Will to guide administration under estate administration.
Note that ARM Trustees Limited could be appointed by the family of the deceased as Estate Administrator, the power to administer can also be donated to it by the Administrators of an Estate in other circumstances. The Estate Administration Laws allows for the appointment of a Corporation as an Administrator.
Contrary to what you may think, Estate Planning is not about houses, buildings or real estate holdings that you may have. It is about planning for the disposition and administration of an estate i.e. all the assets owned by a person on his/her demise. Legally an ‘Estate’ means “the degree, quantity, nature and extent of interest which a person has….” The interest may be interest in real estate, cash, equities, debt, insurance policies to name a few.
Estate Planning includes drawing up a will, setting up a trust, establishing a holding company or using any mode of transfer to ensure that your assets are settled into your Estate in accordance with your instructions.
Check out any of our related services below to find which estate planning service is best suited for you. However, if no one jumps at you please contact us using the details at the top or bottom of this page.