The process of obtaining a Grant of Probate
Following a bereavement, the Executor (if there is a Will) or Administrator (if there is no Will) is responsible for applying for probate. By obtaining the Grant of Probate from the Probate Registry, the Executor or Administrator has the authority to act in the administration of the estate. There is a set government fee of £273 for all applications if the value of the estate is £5,000 or over.
Probate is required by law when the deceased leaves a valid Will and owns a property in their sole name. However, it will not be needed if the assets were held jointly, as they will pass to the surviving spouse or civil partner. It is also needed if a financial institution requires it to release funds. The thresholds for requiring probate vary between institutions and are subject to change. If there is no Will, a close relative of the deceased can apply for Letters of Administration, which gives the same authority as a Grant of Probate.
Obtaining probate consists of making sure you have the Will, death certificate, and correct Inheritance Tax form; submitting the probate application; and completing a statement of truth. In the best-case scenario, applications take around 8 weeks to be granted once submitted. However, errors can delay the process. Applying online is generally quicker than a paper application.
Seeking professional advice is wise, but this doesn’t need to be from a Solicitor. You can instruct a probate and estate administration specialist to deal with the application process or the full administration on your behalf. It’s best practice to look for a clear, fixed fee based on the work involved, rather than a percentage of the estate’s value. You can also choose to handle everything yourself, but this is a time-consuming role that involves complicated legal work and puts you at personal liability for any mistakes.
Need advice on obtaining a Grant of Probate? Get in touch today.
8 July 2022
The views expressed in this blog do not in any way constitute advice and are specific to the date noted. As time passes the facts can change and readers should consult their adviser for up to date advice on any matters covered within the blog. Invest Southwest offers an initial review, which is free of charge, however long it takes. From this we will be able to confirm how we can help and give you an opportunity to decide if you would like us to. Thereafter, we will provide you with detailed recommendations and exact costs. Please note that we promise not to levy any kind of fee unless we can demonstrate a benefit to you.
