Ad colligenda bona is a Latin term that refers to a legal process used to gather and manage the assets of the deceased person where there is no clear executor or administrator of their estate. In this situation, a court-appointed representative is tasked with collecting the assets, paying off debts and distributing the remaining estate to the deceased’s heirs.
The ad colligenda bona process typically begins when a person dies without a will, or when the named executor or administrator is unable or unwilling to serve. A recent case, involving one of Britain’s most fearless entrepreneur, Peter de Savary, (who’s £60 million fortune came to light after his death), was found to have an ad colligenda bona grant made to administer his estate.
In such cases, the court may appoint a personal representative to manage the estate’s affairs. This representative is known as the ad colligenda bona administrator.
The primary role of the ad colligenda bona administrator is to identify and collect all the assets belonging to the deceased, including bank accounts, investments, property and personal belonging. They are also responsible for paying off any outstanding debts, such as outstanding bills, taxes, and funeral expense. In the case of Peter de Savary, two of his properties, and three of his boats were to be put up for sale.
Once all assets have been collected, the ad colligenda bona administrator must distribute the remaining estate to the deceased’s heirs according to the country’s intestacy laws. Intestacy laws are legal guidelines that determine how the property should be distributed in the absence of a will; with an order of entitlement.
One of the critical benefits of the ad colligenda bona process is that it ensures that the deceased’s assets are managed in a fair and equitable manner. Helping prevent disputes between family members and ensures that the estate is not left in limbo.
Another advantage of ad colligenda bona is that it provides a legal framework for managing the deceased’s assets. This can be particularly important when the deceased’s assets are complex or when there are multiple heirs involved. The ad colligenda bona administrator has the legal authority to manage the estate and ensure that everything is handled appropriately.
Here at Fraser and Fraser, we offer a number of different services to support you with managing assets. As international probate researchers and genealogists, we are able to provide specialist research to legal professions by tracing missing heirs and beneficiaries worldwide. For more information, contact us today and we would be happy to assist.
This article was submitted to be published by Fraser and Fraser as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
