What Is Probate?

What is it?

Probate is the name given to the process of administering someone’s estate after their death. It’s essentially the permission granted for someone to sort out their money, property, and possessions.

A Grant of Probate is a legal document, acquired from the probate registry. If you are the named executor in someone’s will, it will be your job to apply for the Grant of Probate.

What are the stages?

In brief, the stages of Probate are as follows:

1. The estate is valued, and it’s determined whether or not inheritance tax is due

2. A Grant of Probate is applied for

3. Tax and outstanding debts are paid off

4. Assets are distributed according to the will

Letter of administration

If a will has no executors, or the named executors are unwilling or unable to act, an administrator will be appointed. The identity of the administrator will be decided based on a fixed order of priority. 

The administrator will need to apply for a Grant of Letters of Administration, which is essentially the equivalent of a Grant of Probate. This enables them to act as administrator.

A Grant of Probate and a Grant of Letters of Administration can also be referred to as a Grant of Representation. 

Is probate always needed?

No, it’s not always required. 

If your assets are held jointly, such as with your spouse, then your assets will automatically go to them when you pass.

Another factor that determines the necessity of probate is the size of the estate. If the estate is ‘small’ – typically worth under £5,000 – probate won’t be required.

For more information on whether or not a Grant of Probate is needed, contact one of our expert solicitors today.

Why is it recommended to seek legal advice for executing a will?

Administering a will can be complicated and time consuming. Any mistakes made will also mean you are held personally liable. Legal representation will allow you peace of mind and comfort knowing the estate is being administered correctly.

Legal fees can be paid from the estate.