The Times newspaper says the High Court has ruled that the British earl is dead, allowing the executors to finalise details relating to his estate.

Seven years ago his relatives secured a court order presuming he was dead so they could begin to wind up his estate.

But it was not fruitful according to the newspaper, which said the earl was a notorious gambler and had amassed huge debts, even selling the family silver to keep afloat.

His estate is listed as worth less than £15,000.

But Lady Lucan told The Times she was glad the probate had been granted.

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"I hope that will put an end to it," she said. "It was 25 years ago, a quarter of a century, and it should be forgotten."

Lord Lucan vanished in 1974, and despite reports that he had committed suicide, police files have not been closed on the death of nanny Sandra Rivett.

He has reportedly been sighted in Melbourne, the Netherlands, Dublin and Johannesburg, often simultaneously.

It is alleged that he tried to murder his wife, and mistook the nanny for Lady Lucan after a family row.

The ruling is not the same as a death certificate, which is yet to be granted, nor does it resolve the question of Lord Lucan's title.