Losing someone close to you is never easy, and on top of dealing with your grief, you may become responsible for managing their assets, such as property, money, and other possessions.
The names of each party the deceased person has chosen to be an executor of the Will, responsible for their assets, will be documented within their Will.
The process of organising and distributing any assets in line with your legal duties is known as probate. This forms part of the wider process for administering the estate of the person who died.
AFG Law have a team of experienced and understanding probate solicitors who are here to support you through every stage of this process. We know that this can be an overwhelming and emotional time, so our aim is to make the practical side of managing an estate as smooth and stress-free as possible.
Whether you need help with the initial application, understanding your role as an executor or personal representative, valuing the estate, or ensuring you correctly pay inheritance tax, our legal experts can guide you every step of the way.
We can also assist if there is no Will, providing advice on the rules of intestacy and appointment of an administrator, as well as handling applications for Letters of Administration.
Our dedicated team can help you obtain probate, liaise with the Probate Registry, and ensure that all assets are properly accounted for, from bank accounts and investments to property and personal belongings.
What is probate?
Probate is a legal process that gives the executors of the Will the relevant authority to deal with the assets and carry out the wishes of the loved one who has sadly passed.
If you are the executor of the Will (this could be more than one person) you will be responsible for handling the process.
Essentially, before property can be sold or transferred, you will need probate. And, if assets need to be divided, it is likely that you will need to apply for a Grant of Probate. Once you have received the granting of probate, you will have the legal authority to take the actions specified in the person’s Will.
Executors could then, for example, close bank accounts, sell the deceased person’s property, sell shares, transfer property to the beneficiaries, or close investment accounts.
So, how do you go about doing this? Don’t worry, AFG Law are here to help you understand this further and will outline the steps to take as we move through this guide. You can also speak to a probate solicitor from our friendly and helpful team for advice.
How does probate work?
The probate process can vary from case to case because every Will and set of assets is different. It can also be made much easier with the help of a probate solicitor, such as ourselves, to assist any executor or personal representative with the probate application.
Typically, the process can involve:
Registering the death and obtaining the death certificate
Before you do anything, you will need copies of the death certificate. Regardless of whether you need probate or not, you will certainly need this to access or manage any assets.
Confirming if there is a Will
Once you have the death certificate, check whether the deceased person left a valid Will. If so, ensure the named executors are the people carrying out the process. Only executors should be involved with the probate process.
Valuing and identifying assets
You’ll need to communicate with financial institutions, utility companies, and government departments to confirm the full value of the estate. This will include property, bank accounts, investments, and other valuable possessions.
Applying for a Grant of Probate
Next, you’ll need to apply for a Grant of Probate (or Letters of Administration if there’s no Will). This application is made to the Probate Registry, and it officially authorises you to act as executor or personal representative.
Inheritance Tax
If the death occurred before January 2022, you will need to complete an Inheritance Tax (IHT) return. In certain circumstances, you will need to pay inheritance tax. Accurate valuation of the assets is vital. Legal advice can ensure you meet all tax obligations and minimise potential legal fees.
Granting of probate
Once the registry approves the application, you’ll receive the Grant of Probate or Letters of Administration. This allows you to start administering the estate, settling debts, managing assets, and distributing the estate to beneficiaries.
Distributing the estate
With any debts and taxes paid, the executor or personal representative can distribute the estate in accordance with the Will, or, if there is no Will, according to the rules of intestacy.
If there is no Will, an appointment of an administrator will be made instead of an executor. The administrator will then follow the rules of intestacy to determine how the assets should be shared.
When is probate required?
In some instances, probate isn’t required. This depends on the complexity of the estate and the organisations holding the assets.
Here are a few examples:
- If there is a property in the deceased person’s sole name, probate is required to give executors legal authority to sell or transfer ownership.
- If there’s a bank account with only a small balance, probate may not be needed.
- Where assets include property owned as joint tenants, the surviving spouse or civil partner automatically inherits the share of the property, and probate may not be required.
- If the property is owned as tenants in common, probate or Letters of Administration will be required so the personal representative can transfer the share according to the Will or rules of intestacy.
Ultimately, banks, insurers, and investment firms each set their own thresholds for when probate is required. It’s always wise to check with them before starting your application.
What is a Grant of Probate?
A Grant of Probate is the official legal document that confirms the executor’s authority to manage and distribute the deceased person’s estate. Without it, executors cannot access bank accounts, sell property, or transfer other assets.
How long does probate take?
The granting of probate can take between 2 and 12 weeks depending on the Probate Registry’s workload. The full process, including administering the estate, can take anywhere between 3 months and 2 years, depending on the value and complexity of the estate.
How much does probate cost?
There’s no fixed cost for probate. Legal fees vary depending on the estate size, number of assets, and complexity of the case.
The standard court fee is £155 plus £1.50 for each additional copy. Legal professionals can assist with the probate application, tax forms, and asset management, ensuring the process is efficient and compliant.
Who can apply for probate?
The executors named in the Will are responsible for applying for a Grant of Probate. If there is no Will, the appointment of an administrator (usually a spouse or civil partner) will take place.
The administrator will then follow the rules of intestacy to distribute the estate.
How does probate work without a will?
If a person who died did not leave a Will, a Letter of Administration is required. This is usually applied for by a spouse or civil partner, giving them legal authority to handle the estate.
What is the difference between probate and letters of administration?
If the deceased has a will the named executors would often require a Grant of Probate in order to manage the assets.
However, if the deceased does not have a will, a grant of letters of administration is applied for and the person responsible would be an administrator rather than an executor.
Can a will be changed after death?
You can change a valid will, but you can only make changes to the share of the inheritance that it has given you.
For example, you could:
- Give specific assets to different people instead
- Give away your whole entitlement
- Reduce inheritance tax
- Use your inheritance to set up a trust for your family
To make any of these changes you will need to apply for a document called a deed of variation, or a deed of family arrangement. In order to do this there are certain rules and it can be a little complicated, so involving a solicitor would be advisable.
What rights does a beneficiary have?
A beneficiary is someone who will receive something from the deceased’s will.
The executors of a will have a legal duty of care to the beneficiaries to ensure they deal with the estate properly. They are also responsible for obtaining the best price for the property if there is a sale involved.
The executors could be held responsible should they be seen to be delaying dealing with the estate and as a result the assets drop in value. Beneficiaries can take legal action against an executor if they breach these rights or if the executor is otherwise mismanaging the estate.
What is a personal representative?
A personal representative is the person responsible for administering the estate. This can be an executor (if there’s a Will) or an administrator (if there isn’t one).
Why use a solicitor?
Although some people handle probate themselves, using a solicitor ensures the process is compliant, efficient, and avoids costly mistakes. Solicitors can help with probate applications, tax calculations, and the granting of probate.
If disputes arise, or if you’re unsure whether you must pay inheritance tax or include certain bank accounts or property, professional guidance is invaluable.
Who pays for probate?
Legal fees are paid from the estate itself; the executor or administrator is not personally liable.
How can AFG Law assist?
At AFG Law, our experienced team can assist you with every stage of the probate process, from registering the death and preparing tax forms, to applying for a Grant of Probate and administering the estate of the deceased person.
Get in touch with our team today via email at PrivateClientDept@afglaw.co.uk or speak to one of our experts on the phone at 01204 377600