WILLS, PROBATE & EXECUTORSHIP

British Virgin Islands Wills and Cayman Islands Wills

Every individual should have a valid Will, regardless of their personal wealth. For clients with assets in the BVI or Cayman Islands, a jurisdiction-specific Will offers three major advantages:

1. Testamentary Freedom - Decide who inherits your assets and in what proportions, avoiding intestacy rules that may conflict with your wishes.

2. Control Over Executors and Trustees - Appoint trusted individuals or professional fiduciaries to administer your estate and manage any testamentary trusts.

3. Efficient Probate Process - A BVI or Cayman-specific Will allows executors to apply for probate directly in the jurisdiction, avoiding the delays and costs of resealing a foreign probate.

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For shareholders of BVI or Cayman companies, or owners of local real estate, such Wills are particularly critical as these assets are treated as situs assets under local law and may only be dealt with by the courts of the jurisdiction.

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British Virgin Islands Wills and Cayman Islands Probate

When an individual passes away with assets in the BVI or Cayman Islands, a local grant of probate or letters of administration is required before those assets can be distributed. Even where a foreign Will exists, local proceedings are often still necessary.

 

Services typically include:

• Preparing and filing probate or administration applications

• Coordinating with foreign counsel for multi-jurisdictional estates

• Advising on the duties of executors and administrators

• Collecting, transferring and distributing estate assets

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This ensures that estates are administered in an efficient, timely and legally compliant manner, reducing the burden on beneficiaries during what is often a difficult time.

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British Virgin Islands Wills and Cayman Islands Executorship

Appointing a reliable executor is a vital part of estate planning. Executors carry significant responsibilities, from paying debts and taxes to distributing assets and overseeing any trusts established under a Will. In cross-border estates, this role can be particularly complex.

 

Professional executorship services provide:

• Impartial and independent estate administration

• Expertise in navigating multi-jurisdictional estates

• Continuity and efficiency in managing the estate

• Transparent reporting and protection of beneficiaries’ interests

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By engaging a professional executor, clients ensure that their estate is managed in accordance with their wishes and the applicable laws of the BVI or Cayman Islands, giving both peace of mind and security for beneficiaries.