It can come as a surprise to some bereaved families that, despite a loved one having a valid will, the executors—those appointed to handle the deceased person’s estate—still need to obtain a Grant of Probate in order to manage the estate and follow the instructions outlined in the will.
What is a Grant of Probate?
A Grant of Probate is an official document issued by the Court, confirming that the named Executors are legally authorized to administer the estate. When institutions like banks, financial firms, or the Land Registry see this Grant, t hey are assured that the correct people are handling the estate.
Before the Grant is issued, the Probate Registry will address any potential disputes related to the will and verify whether any inheritance tax has been paid, if applicable.
If there is no will, an application for a Grant of Letters of Administration can be made. If a will exists but does not name Executors, a Grant of Letters of Administration (with the Will annexed) will be required. In all of these cases, the relevant document notifies third parties who has the authority to manage the deceased’s assets.
When is a Grant of Probate Needed?
Not every estate requires a Grant of Probate. For example, if the estate is small or most assets are held jointly (and pass automatically to the surviving owner), a Grant may not be necessary.
However, if the estate involves significant assets, financial institutions holding those assets—like banks or investment companies—will typically require a Grant before releasing the funds. If they make such a request, you will need to provide the Grant.
Additionally, if the estate includes property or land, you will definitely need to obtain a Grant in order to register any sale or transfer with the Land Registry. It’s advisable to begin the process sooner rather than later in these cases.
How Do I Apply for a Grant of Probate?
You can find guidance on how to apply on the gov.uk website. However, in many cases, it’s wise to engage a solicitor to assist with the application. A solicitor can help you complete the necessary inheritance tax forms, ensure the correct information is provided in the probate application, and guide you through the wider estate administration process.
Currently, due to delays caused by COVID-19, the probate registry is taking longer to process applications. To avoid additional delays, it’s even more important to ensure all information is accurate and complete. Using a Solicitors for the Elderly Accredited member can provide peace of mind, as they are experienced in handling estate administration.
Do I Still Need a Will?
Yes, you do! While a Grant of Probate may be required, having a valid will is crucial. The will ensures your wishes are clear, specifies who should be appointed as Executors, and outlines how you want your assets to be managed once the Grant is obtained.
