A Guide to Searching for Assets

As an executor of a will in Ireland, one of your primary responsibilities is to locate and manage the assets of the deceased. This process can be overwhelming, especially during an emotionally challenging time. To help you navigate this crucial task, we've put together a comprehensive checklist to guide you through searching for the deceased's assets in Ireland. It is important to create a list of all the assets as you find them, you can include these in the “Estate Details” section to keep a clear overview of all assets for you and your solicitor (feature of Simple Probate Platform) Please refer your solicitor if you re interested in using our executor checklist.

1. Check Personal Belongings

The deceased's personal belongings may hold valuable clues about their assets. Searching through the deceased’s home, office, and personal effects is essential. Look through:

• Personal files and folders

• Safety deposit boxes

• Home safes

• Desk drawers and cabinets

• Wallets or purses for bank cards, credit cards, and other financial documents

Talking to family and friends can also provide insights into where important documents and assets might be kept.

2. Review Financial Accounts

Examine the deceased's bank and investment accounts for any financial assets. Look for:

• Current and savings accounts

• Deposit accounts

• Investment accounts

• Credit union accounts

• An Post savings

Contact financial institutions where the deceased held accounts to inform them of the death and to inquire about the next steps. Here is a template letter or email to contact the financial institution to request account balances. 

3. Identifying Real Estate Holdings 

Review property records to identify any real estate owned by the deceased. This includes:

• Primary residence

• Holiday homes

• Rental Properties

• Agricultural land

• Commercial properties

For all properties, whether you wish to sell the property or keep the property you will need to get a valuation for your solicitor and the revenue commissioners to determine what tax you will owe. 

 If you wish to sell the property you need to inform your solicitor and make the necessary arrangements to sell the property, this will also determine the valuation of the property as it is going to market. 

If you wish to inherit the property you will need to get a valuation of the property done. This involves you writing to your local property agent and asking them to visit and value the property. A template for this is here. You must send this valuation to your solicitor. 

If you are unsure whether the deceased had any property you can contact the Property Registration Authority of Ireland (PRAI). You can contact them via post or visit their public office and pay €5 to search for the name of the deceased. They will have a record of any properties owned if the property was registered. It's important to note that not all property is registered with the land registry and it may be registered with the Registry of Deeds. You can find opening hours here. This can be a long process and is best to be reserved for extreme cases.

4. Locate Retirement Accounts

Identify and gather information about any retirement accounts, such as:

• Occupational pensions

• Personal Retirement Savings Accounts (PRSAs)

• Approved Retirement Funds (ARFs)

• Approved Minimum Retirement Funds (AMRFs)

5. Search for Insurance Policies

Look for life insurance policies that may provide benefits to the estate or named beneficiaries. Types of policies to search for include:

• Term life insurance

• Whole life insurance

• Universal life insurance

• Employer-provided life insurance

Contact the insurance companies to file claims and understand the payout process. You can use this template.

6. Check for Digital Assets

In today's digital age, it's essential to consider digital assets, which might include:

• Online bank and investment accounts

• Cryptocurrency wallets

• Digital payment platforms (e.g., Revolut, PayPal)

• Online businesses

• Domain names

Accessing these accounts may require passwords and other authentication details. Check the deceased's computer, smartphone, and password manager for this information.

7. Review Tax Records

Tax returns can provide a wealth of information about the deceased's assets. Review the last few years of tax returns to identify:

• Sources of income

• Interest and dividends from investments

• Property ownership

• Deductions for mortgage interest or property taxes

8. Dividends and Share Certificates

Advise users to check the deceased's belongings and bank accounts for share certificates. Many people receive dividends directly into their bank accounts, which can be a clue to stock ownership. Acknowledge that new share certificates are often basic documents. Finding shares can be challenging as there is no straightforward way to determine if a deceased person owned shares. Refer to our article here to learn more.  

9. Prize Bonds

The appearance of prize bonds has changed significantly over time. Previously, it was obvious that they were prize bonds, however, sometimes they can look unofficial like letters or a regular piece of paper. It is best to contact the Prize Bond Company to clarify the status of any prize bonds held by the deceased. 

This can be done by writing to the below address, enclosing proof of death to confirm the correct amount of prize bonds and to obtain the appropriate encashment or transfer form.

State Savings, Prize Bond, 

FEXCO Centre, 

Killorglin, Kerry V93 WN9T 

10. Contact Professional Advisors

Reach out to any professional advisors the deceased worked with, such as:

• Financial advisors

• Accountants

• Solicitors

• Insurance brokers

These professionals can provide valuable insights and help you locate additional assets.