Probate is the process of dealing with the estate of someone who has died.
When someone dies, a Grant of Representation is required to give you the legal right to deal with the estate. When there is a valid Will, the grant is called a Grant of Probate. If there is no Will it is called Letters of Administration.
The Probate process is governed by law and can include:
- Determining the value of the estate.
- Ascertaining whether there is enough money available to pay the deceased's debts.
- Obtaining the Grant of Probate or Letters of Administration from the Probate Registry.
- Collecting in the assets.
- Releasing funds to pay debts.
- Completing any HMRC requirements, including Inheritance Tax.
- Paying the legacies.
- Preparing estate accounts.
- Distributing what remains of the estate to the beneficiaries.
Probate can often be a complicated process that comes at a time when you are already dealing with the emotional and physical loss of a loved one. It is therefore advisable that you seek legal expertise and support to ensure the wishes and intentions of the deceased are met.
Our team are experienced in supporting families and loved ones through this daunting process and provide an understanding and sensitive approach, ensuring probate is completed quickly and efficiently.
Get in touch if you are faced with administering an estate and we will remove this burden and provide the support and guidance you need. Contact our team on firstname.lastname@example.org or call us on 0113 320 5000.
It currently takes in the region of two months to receive a grant of probate after the application has been submitted, however, there can be exceptions.
If the deceased does not have a will then the next of kin will have to receive a grant of letters of administration before they can deal with the estate. If the deceased does have a will then you may need to apply for probate if the deceased had:
- more than £5,000
- stocks and shares
- some insurance policies
Institutions have their own procedure and requirements before releasing assets and will inform you of these when you communicate with them.