Probate Explained

Probate is the process of appointing executors, giving them the legal powers to administer the estate and challenging any questionable decisions. Without probate, executors must rely on the validity of the will to authorise their actions, which can prove difficult to reliably prove. As such, if the will is not legally binding, the executors can be charged for damages if they are found to be acting without the proper authority.

In more general terms, probate refers to the process of administrating the estate – transferring payments, authorising the sale of property, etc. With a valid probate document, the deceased’s assets can be released to one or more people appointed as executors.

Before acquiring, the assets of the deceased are often ‘frozen’ to protect against ‘incorrect distribution’ until you can prove that you have the deceased’s consent and the legal authority to access bank accounts, sell property, etc.

A common misconception is that probate is not needed if the deceased has a valid will. In cases where there is a valid Last Will and Testament, it is called a ‘Grant of Probate’ but if the deceased is intestate it is referred to as ‘Letters of Administration’.

Probate is often a long and complicated legal process, especially in cases where there are disputes over the terms of the will, or no valid will at all. In order to minimise the emotional stress and hassle over paperwork and legal battles, we recommend seeking professional probate services.

Click here for more information on our fees.

If the person has a Will

Most people name an Executor/s when they write a Will. An Executor deals with the person’s estate when they die and undertakes all the administrative tasks. You can appoint a minimum of one person and a maximum of four people at any one time.

In certain circumstances, you can appoint a professional company such as Knightsbridge Solicitors who will fulfil this role in a professional capacity.

If you are an Executor, you will need to find out whether to apply for a grant of Probate.

A grant of Probate is an official document issued by the Probate Registry (part of the HM Courts & Tribunal Service) which gives you the legal right to deal with the estate of the person who died.

Executors are typically made aware when a Will is prepared that they are being appointed. However, if you have not or you have changed your mind and so not want to or cannot act, you can:

• Appoint someone else to apply for Probate by using the appropriate Attorney forms.
• Refuse to act, if you have not already started to deal with the estate by renouncing and filling this at the Probate registry with the Will.

Whereby there is more than one Executor appointed, you must all agree who applies for Probate. You can only submit one application.

If the person did not name an Executor in their Will, the Probate court will appoint someone.

If the Will cannot be found

You may have the Solicitor’s details and can write to them asking if they have the Will.

If the Solicitor or firm who drew up the document are no longer in business, the Law Society library can help you trace them.

If they were in business in 1993 or more recently, the Solicitors Regulation Authority can help you trace them.

If they are still in business, you can use the Find a Solicitor tool for their current contact details.

If the person did not leave a Will

If the person did not leave a Will you can apply to be an Administrator of their Estate. This gives you the legal right to deal with the person’s estate when they die.

You can usually apply to be an Administrator if you:

• Are their next of kin (usually a close relative)
• Were married to them, or
• Were in a civil partnership with them
• To apply to be an Administrator of an Estate you follow the same steps as applying for Probate.

When to apply for Probate

You may not need to apply for Probate if the person who died only had savings or premium bonds as some banks and building societies will release money without needing Probate or letters of administration however you must check with them.

This is also the case if the person had jointly owned land, property, shares or money.

However, you may need to apply for Probate to administer the estate of the person who died if they left:

• More than £5,000.
• Stocks and shares.
• A house or land, or
• Certain insurance policies.

Some financial organisations may require a Grant before giving you access to less than £5,000. Each institution will have its own threshold therefore you must check with them as oppose to presume.

Before applying for Probate, a Solicitor can help you estimate the estate’s value and report it to HM Revenue & Customs. Depending on the value, you may have to pay Inheritance Tax.

Applying for Probate is time-consuming and can be frustrating. Knightsbridge Solicitors can guide you through the stages of applying for Probate. For example, they can:

• Tell you if you need to apply for Probate.
• Value the estate.
• Submit Inheritance Tax forms to HMRC.
• Apply for a Grant of representation for you.
• Collect the assets of the estate.
• Make sure the estate is distributed accurately.

Contact us

Contact us today, for professional, personalised advice and guidance from our probate specialists. Our experienced specialists can guide you through every step of the process.

To learn more or book a consultation for any of our private client services, contact us on 0115 824 1700 or fill out an online enquiry form.