A grant of probate may be required, even if there is a valid will. It is necessary in most cases involving property, especially if the beneficiaries plan to sell it.
Probate is the legal process that involves managing a deceased person’s estate and the distribution of their assets.
This guide discusses whether you need probate if there is a valid will. This includes details on the application process and when probate is required.
Common Misconceptions About Grant of Probate and Wills
Probate can be confusing for those who are unfamiliar with the process. Here are some important facts to keep in mind to avoid any misconceptions:
Having a valid will does not eliminate the need for a grant of probate
Probate may not be required for small estates or joint ownership
The grant of probate will be requested by the deceased’s financial institution
Compare Expert Probate Solicitors
Take the stress out of Probate
Support where you need it most
When Is a Grant of Probate Necessary?
Hiring a probate solicitor as soon as possible allows you to receive expert advice and explain each stage to you jargon-free. A grant of probate is necessary in the following scenarios:
If the deceased owned a property solely in their name
If the deceased owned high-value assets
If the estate exceeds the financial institution’s thresholds (typically over £5,000)
When Is a Grant of Probate Not Necessary?
Probate is not necessary if the following scenarios apply:
Jointly owned assets are transferred to the surviving owner/s
The estate is valued at under £5,000
If the assets are held in a trust
How to Apply for a Grant of Probate
The executor is the personal representative of the estate. They are responsible for arranging the legal proceedings. Applying for a grant of probate is made easier when instructing a probate solicitor. They ensure all documents are filled out and submitted correctly.
Here is what you can expect from the probate application process:
Initial Steps
This involves identifying the executor or administrator. They will be responsible for arranging a probate valuation to determine how much the estate is worth.
Completing Required Forms
These include the Inheritance Tax (IHT) Form and Capital Gains Tax (CGT) Form. Once IHT and CGT have been calculated, the executor must make the necessary payments. This must be done within six months of the deceased’s passing.
Submitting to the Probate Registry
The documents are sent to the Probate Registry including the original copies of the will and death certificate. Once submitted, it can take up to 16 weeks to receive the grant. This can be longer in cases with complex or large estates.
Read more on Why Does Probate Take So Long?
Receiving the Grant of Probate
Once probate has been granted, the executor can begin distributing the remaining assets. They must collate written approval from the beneficiaries once they have received their assets. The process will end once the executor has finished closing bank accounts and updating property records to reflect the new owner.
Compare Expert Probate Solicitors
Take the stress out of Probate
Support where you need it most
What Happens If You Don’t Apply for Probate?
If the executor does not apply for probate, the assets will remain frozen until the application has been submitted and approved. Any funds or property held in the estate cannot be passed on accordingly until probate has been completed.
Any attempt to sell or transfer assets without receiving a grant of probate will result in legal action and penalties.
Read more on Can You Sell a House Before Probate?
Finding a Probate Solicitor
Compare My Move can connect you with up to 6 probate solicitors operating in your local area. Your solicitor will be on hand to explain each stage of the process. They will ensure all documents are filled out and submitted correctly. Fill in our probate comparison form to compare quotes and save on your probate solicitor fees.
Our partners must pass our strict verification process to join our network. Probate solicitors must be regulated to ensure customers receive high-quality service. They are regulated by one of the following regulatory bodies:
Solicitors Regulation Authority (SRA)
Council for Licensed Conveyancers (CLC)
Law Society of Scotland (LSS)
Law Society of Northern Ireland (LSNI)
Institute of Chartered Accountants (ICAEW)
Key Takeaways
In most cases involving property, a grant of probate will be required. Instructing a probate solicitor will minimise the chance of any errors occurring. Your solicitor will be on hand throughout the process. They will offer expert advice and ensure you make informed decisions.
Probate is required on estates worth over £5,000. This means most estates involving property will require a grant of probate. The deceased’s financial institution will determine whether probate is necessary.
Compare Expert Probate Solicitors
Take the stress out of Probate
Support where you need it most
Frequently Asked Questions
How long does a grant of probate take?
Receiving a grant of probate takes around 16 weeks once the application has been submitted. The entire probate process takes between six and 12 months on average.
What if there’s no will?
If there is no will or the will is invalid, an administrator will be appointed. They must then apply for a grant of letters of administration.
How much does probate cost?
The cost of probate varies depending on the value of the estate. Services for smaller estates range from £2,000 to £5,000. Larger estates can see probate services costing between £20,000 and £30,000.
