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Make a will for your Cayman property
A property is often a person's biggest asset, so can be the catalyst for deciding whether you need to make or amend a will.
If you aren't familiar with the intricacies of Cayman property and probate law, the issue of property inheritance can be a confusing one. Ultimately, without a valid will in place – known as dying intestate – your property may not be passed on according to your wishes.
Making a will is an important step in planning for the future and Ogier's specialist team is on hand to guide you through the process.
Why should you make a will?
If you do not have a valid will in place and the property is not held jointly, the Succession Act of the Cayman Islands will determine who your property will pass to following your death. For non-domiciled Cayman individuals, the application of private international laws could have unexpected consequences.
This isn't an area that you should leave to chance. It's important to spend some time getting your affairs in order so you can have the peace of mind that your wishes will be carried out after you're gone.
Ogier's Estate Planning, Wills and Probate services
Ogier's global Estate Planning, Wills and Probate team advises on all aspects of wills and probate legislation. We provide a responsive, clear and compassionate service to clients and their advisers.
The team's Cayman law services include:
- will drafting and estate planning for clients domiciled in the Cayman Islands and international clients
- probate applications, estate administration and executorship for clients domiciled in the Cayman Islands and international clients
- inheritance advice for executors, heirs and beneficiaries on their legal entitlements and duties
- mental capacity services, including drafting and advising on advance health care directives
Need to know
Grants of representation
When an individual dies owning assets in the Cayman Islands, a grant of representation issued by the Grand Court of the Cayman Islands is usually required before the Cayman assets can be administered.
There are three types of grant:
- grant of probate – where the deceased left a valid will
- grant of letters of administration – where the deceased left a will but did not appoint an executor or where no executor is willing or able to act
- reseal of foreign grant – where a foreign grant of probate is being resealed in the Cayman Islands
The application process, who is eligible, and fee depends on the document filed. Without a will, the Cayman probate rules impose a strict order on who can apply for a grant. However, by considering your succession planning options during your lifetime, you can simplify this process or avoid it entirely.
For more information on obtaining a grant of representation or succession planning, reach out to a member of Ogier's expert Estate Planning, Wills and Probate team.
I don't live in Cayman
For non-domiciled individuals, having a separate Cayman Islands will to cover your Cayman assets will often expedite and simplify the administration of your Cayman estate.
By having your will in place, your executors will be able to apply for probate in the Cayman Islands immediately after your death. This avoids the need to wait for a grant of representation of a foreign will to be obtained elsewhere and avoids the cross-border difficulties and expense of resealing a foreign will in the Cayman Islands.
How relationship statuses impact wills
It is important to note that although every will made by a person will be revoked if they later marry or enter a civil partnership, a will is not affected by divorce or the dissolution of a civil partnership.
It is essential to make a new will immediately following divorce, especially if there is a resulting change to your testamentary wishes. We also recommend periodically reviewing your will(s).
