Wills and Trusts
Why is probate important?
Without probate there are many things you will not have the legal right to do. Our experts explain when and why you need probate.
Losing a loved one is never an easy time, so knowing what steps you may need to take can help you not feel so overwhelmed in what is a stressful and upsetting time.
After a friend or family member dies, it’s important you’re equipped with the legal power you need to manage their wishes regarding their property and assets, known as their “estate”.
Probate is the legal right to deal with someone’s property, money and possessions when they die. A grant of probate is the legal document giving the executor of a will, the person legally responsible for carrying out the instructions in a person's will, the authority to administer the estate (money, possessions, and property) of the deceased person. You may have to apply for a grant of probate if you are the named executor in someone's will.
This document is only called a grant of probate if the person left a will. If they did not leave a will, a grant of letters of administration is used instead.
Probate and possessions
Probate is the legal right to deal with someone's estate when they die. Without it, you may not be able to divide assets or possessions amongst loved ones. It is the permission you need to administer someone’s will. It allows access to bank accounts, to settle any debts and to sell assets.
A grant of probate is not always needed to deal with the estate of someone who has died, particularly if the assets in an estate do not meet the probate threshold.
A probate threshold is how much money a bank can release without a grant of probate. As there is no legal basis for this threshold, it can range anywhere from £5,000 and £50,000 and is at the bank’s discretion, in line with their company policies. Because of this, there is no concrete figure to determine whether you need a grant of probate after valuing an estate.
Probate and property
While there is nothing stopping you from listing property for sale, contracts cannot be exchanged until you have a grant of probate.
When a grant can be applied for depends on the complexity of the estate and how long it takes to gather all the information needed to make the application. After making an application, it can take up to 16 weeks (about 3 and a half months) to be granted.
We are here to help
We understand the sensitivity your case requires and are proud to offer a wide range of services and support. For frequently asked questions about wills and probate, visit our FAQ’s page.
Our expert probate solicitors offer straightforward and practical advice with sensitivity and care, tailored to your individual needs. To get help today, contact us here or call us on 0330 041 5869
