Press Release
November 2, 2011 - Since 1980 in excess of 9000 applications for Probate and Letters of Administration of deceased estates have been filed and over 3000 since 2007. Due to the high fees for stamping of these Probates and Letters of Administration and subsequent Estate Duties which amounted to up to 15% of the estate value, these files remained dormant in the Supreme Court.
In response to this, in his budget presentation of April 2011, the Minister of Finance the Hon. Audley Shaw, reduced the stamp duties to a flat fee of $5,000 for applications that were previously filed and for new applications (between $5,000.00 - $25,000.00 depending on the value of the Estate). In addition Estate Duties (Death Duties) were reduced to 1.5%.
In anticipation of the completion of those previously filed and new applications, the Ministry of Justice has put in place arrangements to expedite the disposal of these cases.
During the month of October in excess of 600 files were assessed by the Supreme Court Registry and now await correction or collection by Attorneys for the applicants. With the cooperation of the applicants and their attorneys, the Ministry of Justice hopes that the majority of these 9000 files and the new application can be completed over the next four to six months (4-6) during which time this special arrangement is in place.
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