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Wills - Trinidad (What is a reasonable amount of time to finalize it?)

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  • Wills - Trinidad (What is a reasonable amount of time to finalize it?)

    My father died with a will which was witnessed by two individuals dated in 2005. He had a house and land. Prior to the signing of the will he "transferred all of his interest" to my sister. Am I correct that this is not an assets which will need to be divided. It would appear that the only other asset is money in various accounts. Some listed on the will some not. What is a reasonable amount of time to finalize this will?

  • #2
    Re: Wills - Trinidad (What is a reasonable amount of time to finalize it?)

    I wish to inform you that if assets have been transferred to his sister then those assets cannot be distributed in Will because then those assets belong to sister. In case of bank accounts the money can be transferred between legal heirs upon obtaining court order. In this regard although there is no strict time limitation but it is best always to take court order at the earliest. However after the lapse of 3 year it is necessary for you to show as to reason of delay. Hence you may do probate within 3 years.

    AFF

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    • #3
      Re: Wills - Trinidad (What is a reasonable amount of time to finalize it?)

      I am the executor of the will. There are 4 beneficiaries including myself. Do I need to provide any guidance to the other beneficiaries in terms of setting up bank accounts. All the beneficiaries live outside of trinidad. How does the executor go about distributing money. Is there a requirement to set up a temporary escrow type account.

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      • #4
        Re: Wills - Trinidad (What is a reasonable amount of time to finalize it?)

        "I am the executor of the will. There are 4 beneficiaries including myself. Do I need to provide any guidance to the other beneficiaries in terms of setting up bank accounts. All the beneficiaries live outside of trinidad. How does the executor go about distributing money. Is there a requirement to set up a temporary escrow type account.[/QUOTE]

        As executor of the will you should be familiar with the Probate Laws of Trinidad in order to properly administer the estate, pay debts and distribute assets properly to the beneficiaries.

        Wills and Probate are covered under The Laws of Trinidad and Tobago, beginning at Chapter 9:03. The laws holds executors accountable for administering the estate properly and filing a proper accounting. For example:

        "FILING OF ACCOUNTS
        74. (1) Every representative shall, within twelve months from the date of granting of probate or administration, as the case may be, file with the Registrar an account showing his receipts and disbursements of the estate of the testator or intestate,and that all sums due in respect of the said estate for estate duty have been duly paid, and showing also the debts of the deceased and the extent to which the same have been paid by such representative.

        (2) If any representative shall neglect or omit to file the account in this section provided for it shall be lawful for the Administrator General or any person alleging himself to beinterested in the estate of the deceased, to call upon such representative by summons entitled “In the matter of the estate of A. B. deceased and the Wills and Probate Act”, to show cause why he should not file such account; and upon the return of such summons, it shall be lawful for the Court to direct that such account be filed within such time as the Court may direct, and in case of default such representative shall be liable to attachment."



        Executors are also able to deduct their expenses of administering the estate from estate proceeds so I strongly suggest you arrange for a meeting with a Trinidad probate attorney and get your advice and direction there so you comply with the law in administering this estate. The expense of the consultation should be taxable against the estate.

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        • #5
          Re: Wills - Trinidad (What is a reasonable amount of time to finalize it?)

          Joint tenants. -trinidad. 2 brothers assented to be change their interest from tenants in common to joint tenants. Subsequently each brother added himself and their children as joint tenants of all of their interest. As the brothers die how would their interest be handled. 1) It is my understanding that no probate is necessary because of the joint tenant language. Is that correct? 2) what is the effect of one brother subsequent to adding transferring all of his interest to one child. Why would that action be necessary if joint tenancy automatically give all of his interest to his children which includes that child. Thanks.

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          • #6
            Re: Wills - Trinidad (What is a reasonable amount of time to finalize it?)

            I replied already to your post. Consult with a probate attorney in Trinidad for answers to your question so you do not end up liable to the other heirs -- and to the State, receive a summons from the Administrator General.

            .

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            • #7
              Re: Wills - Trinidad (What is a reasonable amount of time to finalize it?)

              I retained a probate attorney in Trinidad. I found your response to be informative. Most attorney's never have the time to discuss the details. Thank you for your time. This is an excellent service.

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