Probate is the legal process where someone is authorised to manage the deceased's estate. It can begin immediately and does not have a time limit for completion.
After someone close has passed, it's difficult to imagine sorting through their belongings. Without probate though, assets in an estate worth more than £5,000, cannot be distributed to beneficiaries.
In our article we discuss the time limit for probate and the legal obligations that need to be met. We also discuss the ‘executors year’ and some of the challenges faced when filing for probate.
When Does Probate Start?
Probate can be started anytime after the testator has passed. Despite this, you must carry out some duties including registering the death. Once you have the death certificate, you’ll need to source and freeze bank account(s). You can use the Death Notification Service, which will notify multiple financial institutions.
Read more on What is Probate?
Is There a Time Limit on Applying for Probate
No. There is no time limit in any of the three legal jurisdictions across England and Wales, Scotland and Northern Ireland. However, some milestones need to be met to avoid financial penalties. You might face potential pressure from beneficiaries to administer the estate quickly. You do have the ‘executors year’ to protect you from this pressure.
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The Executor’s Year: Standard Timeline and Expectations
Despite the lack of a legal timeline, there is a widely accepted time frame. This is referred to as the ‘The Executors Year’. This factors in the administrator when there is no will present. It gives the personal representative time to get everything ready to complete probate.
Some beneficiaries are not aware of this ‘year’ period. The executor may face pressure from beneficiaries to distribute assets sooner than this. If that happens and the executor does something incorrect whether deliberate or accidental, they could be held liable.
During this one year there are a few tasks that should be carried out. These include
Collate documents associated with the estate's assets
Contact organisations relating to the deceased's assets
Source and settle any outstanding debts
Find beneficiaries
Key Probate Deadlines in the UK
Some deadlines need to be followed to enable you to fully execute probate. They are the following:
Inheritance Tax Deadlines
Following the deceased's passing, if required, you’ll need to pay Inheritance Tax. According to the UK Government, it is required by the end of the sixth month following the death.
You must send the forms to HMRC within one year of the death. Failure to do so will result in financial penalties. The exact amount depends on the size of the estate. Having a solicitor assist you with this process will reduce the risk of penalties.
Deed of Variation Timeline
A deed of variation is a legal document which provides permission for a beneficiary to make changes to a will after someone has passed away. The deed allows the beneficiary to make changes to their own inheritance. This can be applied before or after the grant of probate has been issued. They can make changes for up to two years following the deceased's passing.
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Is Probate Necessary for All Estates?
There are a couple of situations where probate is not necessary. They include:
Small Estates
If the deceased only had a small estate such as money in the bank and nothing else, it is unlikely that probate would be needed. The threshold can vary depending on the financial institution but less than £5,000 - £10,000 is the average across the UK. Check with the deceased’s bank or financial institution before applying for probate.
Jointly Owned Assets
When one joint asset holder passes away, the surviving spouse or owner automatically inherits the whole asset. This happens through the right of survivorship, regardless of any wills or rules of intestacy.
Common Probate Challenges and Tips for Executors
Avoiding Probate Delays
The average time it takes for probate to be completed is between six and 12 months. Delays can be caused due to the appointment of an executor. Incorrect information on the application form and contesting of the will are also common causes. Hiring a probate solicitor can help reduce some of these delays
Dealing with Beneficiary Expectations
If you are facing pressure from beneficiaries to release assets quicker, remember the ‘executor year’. You are well within your rights to take the full year to ensure everything is done correctly.
You do have the option of using an experienced probate solicitor. They will be impartial in the situation, which can help prevent family disputes.
Managing Estate Complexity
The estate may be complex for reasons such as an insolvent estate* or owning foreign assets including property and bank accounts. By hiring a probate solicitor, they will have dealt with challenging estates so can advise you how to quickly navigate these issues.
*An insolvent estate is where there is more debt than the value of the assets
Do You Need a Probate Solicitor?
Keeping to probate deadlines is tough already for someone who has experienced probate before. There are financial penalties and complex issues that need to be resolved. Choosing a professional probate solicitor to help with either probate or execute the estate completely can help.
Compare My Move connects customers with verified probate solicitors. Fill in our probate comparison form to receive quotes from up to 6 solicitors. We can help you compare quotes and save money on your solicitor fees.
Our probate partners have passed our strict verification process to join our network. This includes being regulated by the following:
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)
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Frequently Asked Questions
What are the key steps for filing for probate
You should follow these steps when applying for probate:
- Register the death
- Gather all documentation
- Pay any taxes including inheritance tax
- Filing the application
Read more on How Long Does Probate Take?
What happens if I don’t apply for probate?
Without probate, assets cannot be accessed or distributed. This means the deceased's estate will be left where they are held. This can result in beneficiaries not getting their inheritance as promised by the deceased.
Can probate be avoided in any way?
Most institutions that hold assets will require probate. The only exception being assets over a specific amount such as many banking institutions not needing probate for accounts holding £5,000 - £10,000. Check with the relevant institution whether they require probate or not.
Who is responsible for filing probate if there’s no will?
When there is no will, the rules of intestacy must be followed. This dictates who is the most entitled person and they should be the person to file for probate and administer the estate. If that person does not wish to do so, they must file a PA16 form to renounce their position.
What costs are associated with probate?
For any estate over £5,000, the application fee is £300. To gain a copy of the grant costs £1.50 per copy. Most solicitors will charge between 1% and 5% of the estate's value.
