A grant of probate gives an executor of a will the authority to distribute assets. The executor is responsible for fulfilling the deceased’s wishes and must pay any taxes and debts that are issued.
The grant of probate is only required in cases where the deceased has left a valid will. If there is no will, the estate administrator must apply for a grant of letters of administration. Grant of probate is often confused with a grant of representation. A grant of representation is an unbrella term for both grant of probate and a grant of letters of administration. Both these documents gives authority to deal with the deceased estate with key difference being whether the left behind a will or not.
In this guide, we’ll explain everything you should know about a grant of probate, including the process and what happens after the grant is approved.
Probate vs. Estate Administration
Probate and estate administration are often used interchangeably. However, it’s important to note that probate is part of the estate administration process. As with the probate process, estate administration is overseen by the executor or administrator.
Estate administration involves:
Applying for a grant of probate
Submitting relevant documents (e.g. Inheritance Tax forms)
Arranging an estate valuation
Distributing funds to beneficiaries
When is a Grant of Probate Required?
The need for a grant of probate is determined by the financial circumstances of the deceased and the complexity of their estate.
Below we discuss when a grant of probate is and isn’t required:
Estate Valuation and Tax Compliance
- The deceased owned high-value assets
- Solely owned a property in their name
- The financial institution overseeing the estate may request a grant of probate or a grant of letters of administration
- The deceased owned property as ‘tenants in common’
- The estate value exceeds £5,000
Exceptions to Requiring Probate
- The estate value is under £5,000
- The deceased jointly owned a property with a living party
- The deceased’s property is held in a trust
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How to Apply for a Grant of Probate
The application process for probate is extremely thorough. This is because all assets must be accounted for and valued correctly. When dealing with larger estates, the process can take longer, especially if the deceased owned assets abroad.
Read more on how long does grant of probate take
Below we discuss how to apply for a grant of probate:
Eligibility and Initial Steps
An executor will be assigned if the deceased has a valid will. They will then be responsible for making the appropriate applications for probate.
The first thing they must do is register the death with the local authority and make funeral arrangements. They should also identify the deceased’s assets before applying for their grant of representation. The grant of representation is a collective term that refers to the grant of probate and the grant of letters of administration.
These include money in the bank, investments, possessions, and property. Any debts and other liabilities should also be noted.
Inheritance Tax (IHT) and Legal Requirements
Before applying for probate, the executor must have an estate valuation carried out. This determines how much Inheritance Tax (IHT) and Capital Gains Tax (CGT) will be paid.
This must be paid to receive the grant of probate. IHT is not applicable for estates below £325,000. There is an additional £175,000 allowance if the property is left to children or grandchildren.
The IHT form must be filled out and submitted to HMRC. If any errors are found, this can have severe financial and legal repercussions. This can also cause delays to probate servies as well as the probate process. According to the UK Government, discrepancies deemed “deliberate and concealed” can result in up to 100% of the estate being seized.
Application Process
The executor must collate key documents as part of their application. This includes details of all assets and original copies of the will and death certificate.
They will then need to apply for the grant of representation through the Probate Registry. It can take up to 16 weeks on average to receive your grant of representation if there are no issues. However, complications can lead to delays.
Read more on Why Does Probate Take So Long?
Distributing Assets
The executor will close the final accounts and provide written confirmation from the beneficiaries. This will state that those named in the will have received their gifts.
How Much Does Probate Cost?
Applying for a grant of probate costs £300 for estates worth over £5,000. This means most estates involving property will require some form of payment if probate is needed. Any estates with a value under £5,000 will not incur this application fee.
Here is a breakdown of the various costs (excluding VAT) involved in probate:
| Service | Cost (£) |
|---|---|
Probate application (estates worth over £5,000 only) | £300 |
Bankruptcy searches | £2 per beneficiary |
Land Registry | £3.90 |
Copies of the grant of probate | £1.50 per copy |
Statutory notice advertising | Varies |
Solicitor Fees
Solicitors have three options for when it comes to probate fees and how they charge customers. Make sure to clarify what method your solicitor plans on using before proceeding. You should request a full breakdown of probate costs to minimise the risk of hidden fees.
Solicitors will charge one of the following:
- Fixed fee
- Hourly rate
- Percentage of the estate (typically between 1% and 5% plus VAT)
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Common Delays and How to Avoid Them
Probate typically takes between six and 12 months, but delays can prolong the process. Here are some common delays and how you can avoid them:
Missing Documents
You will not receive a grant of probate unless all the necessary documents have been filled out and submitted. If there are any missing forms, this can cause delays.
Check with your solicitor to ensure everything is included in the application if you are unsure.
Inheritance Tax (IHT)
Inheritance Tax must be paid if applicable. Paying IHT on larger estates can take time as the correct amount will need to be determined across more assets compared to smaller estates.
Keep a note of your reference number when you are making your IHT payment. IHT must be paid by the end of the sixth month after the person has died.
You can pay using one of the following:
- Bank or building society
- Online banking
- Posting a cheque
- Telephone banking
Contesting the Will
Conflicts between beneficiaries can cause significant delays, especially when dealing with larger estates. Challenges can be formally triggered if a caveat is submitted to the Probate Registry.
While a contest is not always anticipated, there are some ways you can prepare next steps. This includes checking if the will has been changed over the years.
External Delays
You should anticipate delays when it comes to dealing with complex estates. There will be more paperwork and third-party outreach involved. This can include:
- Multiple properties
- Properties abroad
- Business assets
As with will contests, it’s important to have an understanding of the assets that fall under the deceased’s estate. Being organised from the beginning of the process allows you to anticipate any external issues.
Responsibilities After Grant of Probate is Approved
Once probate has been granted, the estate can be distributed among the beneficiaries. Here is what to expect once the grant of probate has been received:
Executor’s Role Post-Probate
The executor’s main responsibility is collecting and distributing the assets. They are often regarded as the personal representative of the grant. The executor must follow the instructions provided in the will.
Once they have received the grant, they can close the deceased’s account and withdraw any funds.
Real Estate and Other Major Assets
Probate is typically needed if the beneficiaries want to sell the property. There are rare exceptions to this rule. For example, if the property was owned as joint tenants or a trust, then probate may not be required.
Properties can be listed on the property market, even if they need to go through probate. However, they cannot be sold until the grant has been approved.
If beneficiaries plan to sell the property, they should hire a surveyor to conduct a valuation. This will indicate the current market price and allow the executor to calculate how much Inheritance Tax is owed.
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Finding a Probate Solicitor
Compare My Move connects users with probate solicitors operating in their area. A solicitor can streamline the process and offer expert advice throughout the process. They can explain everything in a jargon-free manner, so you can make informed decisions. Simply fill in our probate comparison form to compare up to 6 solicitors and save on your probate solicitor fees.
To join our network, all partners must pass our strict verification process. This ensures all customers receive high-quality service. Probate solicitors must be regulated by one of the following regulatory bodies:
Solicitors Regulation Authority (SRA)
Law Society of Scotland (LSS)
Law Society of Northern Ireland (LSNI)
Council for Licensed Conveyancers (CLC)
Institute of Chartered Accountants (ICAEW)
Key Takeaways
A grant of probate gives the executor the authority to organise and distribute assets according to the deceased’s will. They will also ensure all relevant payments have been made, including Inheritance Tax (IHT) and Capital Gains Tax (CGT).
When dealing with large and complex estates, the application process can take longer. This is because the executor must prepare valuations and ensure all documents are filled out correctly.
Consulting a probate solicitor will minimise the risk of any mistakes or penalties occurring. They can offer expert advice and act on your behalf when dealing with third parties.
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