Wills, Probate & Administration of Estate in Cyprus

Estate Administration: An overview 

An estate includes all movable and immovable property and assets a person possesses during their lifetime.  Upon death, an administration procedure must be commenced so as the estate can be distributed to beneficiaries The existence of a will significantly impacts how these assets are distributed, as it will nominate the beneficiaries and the proportions in which they will inherit.  In case someone passes away without a Will in place, the rules of intestacy will apply.

Our Wills & Probates Services

Andreas Demetriades & Co LLC offers comprehensive services related to wills, probate, and estate administration in Cyprus:

• Drafting and registering wills.
• Advising on will disputes and succession law issues.
• Safekeeping wills until execution.
• Preparing probate applications and documentation.
• Court representation.
• Acting as executors or administrators.
• Managing Probate and Administration procedures.

Feel free to contact our legal team who expertise on Wills and Probates for a personal consultation.

Wills in Cyprus 

A will is a legal document that allows a person (the testator) to specify how their estate and assets will be distributed upon their death (subject to some limitations which may sometimes apply, namely forced heirship rules). It can also include instructions for funeral arrangements and nominated an Executors to manage the estate according to the testator’s wishes.

Formalities of Making a Will

• A will must be made in writing.
• It must be executed by the testator in the presence of two independent witnesses who are present simultaneously and who must also witness the will to the testator’s instructions.
• The testator and the two witnesses must be of legal age and of sound mind
• Registration of the will at the District Court is optional and does not affect its validity.

With or Without a Will 

A will allows for the:

• Appointment of an Executor: The executor files the estate administration at the relevant District Court and requests the issue of a Probate Order, giving them the authority to manage and distribute the estate according to the testator’s wishes.
• Distribution of Property and Assets: A will can specify asset distribution, potentially including non-relatives as heirs(subject to the disposable portion of the estate).

Without a will, the estate is distributed according to the Wills and Succession Law, prioritizing legal heirs in a hierarchical order, starting with the spouse and children.

Disposable Portion of the Estate 

Cyprus law restricts the freedom to dispose of the estate to ensure family members primarily inherit:

• If there is a spouse and child, the disposable portion is limited to ¼ of the estate’s net value.
• If there is a spouse but no child, the portion extends to ½.
• If there are no close family members, the entire estate is disposable.

Revocation of a Will

A will can be revoked by creating a new one that expressly revokes any previous Will or by physically destroying the original will.  The Will can only be destroyed by the testator which made the Will.

Administration of Estates

Governed by the Administration of Estates Law (Cap. 189), the Probates (Re-Sealing) Law (Cap. 192), and the Cyprus Wills and Succession Law (Cap. 195), estate administration involves obtaining a Probate Order, which gives the executor authority to manage and distribute assets.

Probate Order

Necessary documents for probate include:

• Death certificate.
• Certificate of heirs from the local Municipality.
• Original Will.

A Court Order is required to manage assets unless the value of the estate is not exceeding (approximately) €17,000.

Probate Registrar and Registry

The Chief Registrar and the Supreme Court Registry handle probate matters, including the safekeeping of wills and processing probate applications.

Probate Procedure in Cyprus

The executor or legal heirs initiate the probate process by applying for a probate order, detailing the estate’s value, debts, and beneficiaries’ information. The issue of the Probate Order typically takes 1-2 months if uncontested.

Administration of Assets

Once probate is granted, the administrator must:

• File an inventory of the estate.
• Pay any taxes due.
• Manage and distribute the estate under court supervision, including paying debts and funeral expenses before distributing remaining assets to beneficiaries.

Finalisation of Estate Administration

The administrator files final accounts with the court, including receipts and declarations from heirs acknowledging receipt of their inheritance. Upon approval, the probate registrar releases the administrator from their duties.

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