It is quite common for individuals living overseas to hold assets in bank accounts on the Isle of Man. Before releasing assets to executors etc, the institution holding an asset on behalf of a non Isle of Man resident will likely require the executors to obtain a Manx Grant of Probate.
How to obtain Probate or Letters of Administration in the Isle of Man
In order to make an application for Probate, the following will need to be provided to the Isle of Man Probate Registry:
- Address for Service: an individual applying must have an Isle of Man address to make an application. This is something we can assist with.
- Valuations: Details of the value of the estate of the deceased in the Isle of Man only (the Registry is not interested in all of the deceased’s assets).
- Original Documents: An original copy of the death certificate and original Will.
- Court sealed copy Probate: Should you have already submitted the above to your local Probate Registry, the Isle of Man Probate Registry requires court sealed copies of those submitted and issued documents. This is the Will, Death Certificate and Grant of Probate in your local jurisdiction.
- Translations: should any of the above documentation not be in English the same will require to be professionally translated and officially stamped by a suitably qualified person.
What if there is no Will
If there is no Will the application process is the same. However, those entitled to apply are determined by local Intestacy Rules (as to which we can advise) rather than those nominated in the Will and in some cases, an additional affidavit is required to be submitted to the Registry to confirm the rules applicable.
Probate Application Fees
The probate application fee depends on the value of the estate in the Isle of Man only. Current fees applicable are available on this website: https://www.courts.im/fees/#Courts-and-General-Registry-(Miscellaneous-Fees)-Order-2024
As at the date of publication of this article (November 2024) the fees are:
- Does not exceed £10,00 - £31.50
- £10,000.01 - £50,000 - £188.50
- £50,000.01 - £125,000 - £544.50
- £125,000.01 - £250,000 - £1,178.00
- £250,000.01 - £500,000 - £2,356.00
- £500,000.01 - £1,000,000 - £4,712.00
- Exceeds 1,000,000 - £9,422.50
If the only asset is one policy of life assurance which exceeds £50,000.00 and the policyholder resides outside of the Isle of Man, the court fees are £279.50.
Timescales
As at the date of this article, the Probate Registry currently estimates that they will issue your Grant of Probate within 20 working days.
If you need assistance with obtaining a Grant of Probate in the Isle of Man, please do not hesitate to contact us or email us directly via the "Contact Us" form available https://www.mplegal.im