Rachael Reynolds KC
Global Senior Partner | Legal
Cayman Islands
Global Senior Partner
Cayman Islands
Big things are happening at Ogier. Change is embedded in everything we do. It is redefining our talent, our ways of working, our platforms of delivery, our culture.
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Our sector approach relies on smart collaboration between teams who have a deep understanding of related businesses and industry dynamics. The specific combination of our highly informed experts helps our clients to see around corners.
We have the expertise to handle the most demanding transactions. Our commercial understanding and experience of working with leading financial institutions, professional advisers and regulatory bodies means we add real value to clients’ businesses.
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Our sector approach relies on smart collaboration between teams who have a deep understanding of related businesses and industry dynamics. The specific combination of our highly informed experts helps our clients to see around corners.
Ogier provides practical advice on BVI, Cayman Islands, Guernsey, Irish, Jersey and Luxembourg law through our global network of offices across the Asian, Caribbean and European timezones. Ogier is the only firm to advise on this unique combination of laws.
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We get straight to the point, managing complexity to get to the essentials. Our global network of offices covers every time zone.
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Guide
07 October 2022
British Virgin Islands, Cayman Islands, Hong Kong
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Our team has considerable expertise in advising on and drafting wills, advising on incapacity issues, obtaining grants of probate and letters of administration, resealing foreign grants for estates with shares or other assets in the BVI and Cayman Islands, and administering estates.
We have in-depth practical experience in working with local regulators, in particular the local Probate Registry in the BVI and Cayman.
A BVI/Cayman grant of probate or letters of administration or reseal of foreign grant must be obtained before any BVI/Cayman assets of a deceased can be dealt with, otherwise the assets are effectively frozen. This is necessary even if assets are held via a nominee.
Obtaining a BVI/Cayman grant of probate or letters of administration or reseal of a foreign grant requires the filing of extensive documents to and getting approval from the authorities. The list of documents and the precise form depends on the facts and circumstances of each case.
It is not necessary for the heirs to go to BVI or Cayman in order to obtain a BVI/Cayman grant of probate or letters of administration (or to reseal a foreign grant in BVI/Cayman), but it is necessary to appoint a suitably experienced agent to make the application.
Having a separate and well-drafted BVI law or Cayman law will to deal with your BVI or Cayman assets can make the BVI/Cayman probate application process simpler, quicker and more cost effective.
A BVI/Cayman grant of probate or letters of administration is not required in respect of assets which are held by a trustee on discretionary trust. Accordingly, a discretionary trust can be an effective succession planning tool with a number of advantages including avoiding the probate process.
We offer estate administration services to ensure that shares in the companies and other assets in BVI and the Cayman Islands can be transferred to successors as quickly as possible to allow the continued smooth operation of the companies.
We advise on the procedure, draft the required documents and liaise with the authorities in order to obtain grants of probate, letters of administration and reseals of foreign grants in the BVI and the Cayman Islands.
Ogier has the necessary experience and expertise to be appointed as an agent to make applications for a BVI/Cayman grant of probate or letters of administration (or to reseal a foreign grant in BVI/Cayman).
We draft wills governed by the laws of the BVI or the Cayman Islands to deal with shares and/or other assets located in those jurisdictions, ensuring that those assets pass to the specific persons in the specific ways and proportions that you want.
We advise on and provide alternative solutions for shareholders of BVI/Cayman companies who want smooth transfer of shares to successors in a timely and cost-effective manner. We also advise on and offer solutions for situations involving the incapacity of directors of BVI/Cayman companies.
Rachael Reynolds KC
Global Senior Partner | Legal
Cayman Islands
Global Senior Partner
Cayman Islands
Contact Rachael
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Jennifer Fox
Partner | Legal
Cayman Islands
Partner
Cayman Islands
Contact Jennifer
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Marcus Leese
Partner | Legal
Guernsey, Hong Kong
Partner
Guernsey, Hong Kong
Contact Marcus
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Anthony Partridge
Partner | Legal
Cayman Islands
Partner
Cayman Islands
Contact Anthony
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Giorgio Subiotto
Partner | Legal
Cayman Islands
Partner
Cayman Islands
Contact Giorgio
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Grace Gao 高诗悦
Senior Associate 高级律师 | Legal
Hong Kong
Senior Associate 高级律师
Hong Kong
Contact Grace
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