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Legal Developments worldwide

Succession & Estate Administration in the Cayman Islands (Non-Domiciled Individuals)

January 2013 - Finance. Legal Developments by Ogier .

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INTRODUCTION

The status of the Cayman Islands as an International Financial Centre inevitably means that it attracts significant inflows of capital from individuals who are based overseas, and who are legally domiciled elsewhere.

When those individuals die, it is important to understand the conflict of laws issues that can arise. These will need to be addressed before the heirs can access the Cayman Islands assets. This process is underpinned by a combination of Cayman Islands and international law principles and varies depending on whether the deceased died with or without a valid Will. The process also depends on whether that Will has been admitted to probate in another probate jurisdiction, and whether the Will names executors to deal with the process of the administration.

In all cases, we can assist with quickly and efficiently allowing the heirs to gain access to the assets of the deceased, dealing with all of the legal formalities on behalf of the family.

http://www.ogier.com/Publications/library/Pages/SuccessionEstateAdministrationintheCaymanIslands.aspx?PDF=true