What is probate?
Probate is the process of confirming who has authority to deal with a deceased’s estate. Where there is a will this involves proving that the will is valid. Where there is no will this involves proving which persons (often relatives) have the right to deal with the estate.
What is a Grant of Probate?
A Grant of Probate is a document issued by the court. This document confirms the validity of the deceased’s last will and names the people who have authority to deal with the deceased’s assets.
What is intestacy?
This is where someone dies without leaving a will and they are called ‘intestate’. As there is no will to set out how their estate will be divided, the rules of intestacy will be applied to work out who will inherit the estate.
What are Letters of Administration?
Where the deceased died intestate (did not leave a will) a grant of probate cannot be issued. Instead a Grant of Letters of Administration is issued to confirm the names of those people (usually relatives, but not always) who are entitled to deal with the deceased’s assets. The intestacy rules set out who can apply for a Grant of Letters of Administration.
Who is a Personal Representative?
This term is sometimes used by financial institutions and simply means the executor (where there is a will) or the person entitled to deal with the deceased’s estate where there is no will.
When is probate required?
If assets are owned jointly, they typically pass directly to the surviving owner without the need for probate.
Probate will be required if the deceased owned a property in their sole name. It may also be required if the deceased had significant investments in their sole name or had substantial bank balances.
For small estates, probate might not be necessary. Each financial institution sets its own threshold for when probate is necessary but is typically around £5,000 to £50,000.
Do I need a lawyer for probate?
If you are named as an executor in the will you can apply for probate yourself online or by post.
However, before you can apply for the Grant of Probate you may also need to complete and submit an inheritance tax return. We would therefore always recommend that you take advice from a lawyer to ensure that all your legal responsibilities are covered.
Do I have to act as an executor?
If you are named as an executor this doesn’t mean that you are obliged to act.
There are various options if you do not wish to act and we would recommend that you discuss these with a lawyer. If you do decide to act you should also take legal advice. It is important that you fully understand your responsibilities as you could be personally liable for any mistakes.
How long does probate take?
The Probate Registry currently estimates that it may take up to 16 weeks for them to issue a Grant of Probate once they receive the completed application.
Before submitting the probate application you will need to obtain full details of the deceased’s assets and liabilities and may need to complete an inheritance tax return. It therefore usually takes 6 – 12 months from the date of death before a Grant of Probate is issued.
Is probate public?
Once a Grant of Probate is issued copies of the grant can be accessed by the public. The deceased’s Will will also become a public document.
How much does probate cost?
The Probate Registry charges a probate application fee of £300 plus VAT. Extra copies of the grant cost £1.50 each.
In addition to this you may incur lawyer’s fees for assisting you with the estate. Details of our current charging structure can be found here.
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