Managing a deceased person’s estate

Someone passing away can be one of the most difficult moments of your life. Handling their estate and personal affairs in the weeks following their death can be an incredibly convoluted process, especially at such an emotionally strenuous time.

One of the most important steps in managing the deceased’s affairs is obtaining a Grant of Probate. This legal document is essential for dealing with many aspects of the deceased’s estate. While it is possible to handle the process yourself, working with an experienced solicitor can make a significant difference – ensuring everything is handled while allowing you to focus on what truly matters.

What does Grant of Probate mean?

A Grant of Probate is a legal document that gives the executor of a will the authority to manage a deceased person’s estate. The executor is the individual named in the will who is responsible for ensuring that the deceased’s wishes are carried out properly.

Obtaining probate is critical because it enables you to:

• Prove your entitlement to deal with an estate
• Access bank accounts held solely in the deceased’s name
• Pay outstanding debts, bills, and taxes
• Distribute the estate to the rightful beneficiaries
• Sell property or other assets if required

Without this legal authority, financial institutions and other organisations will not allow you to manage or access the deceased’s assets.

It is important to understand that probate typically applies to privately owned assets. This includes things like individual bank accounts, investments, and property owned solely by the deceased. Jointly owned assets typically pass automatically to the surviving co-owner through the “right of survivorship,” meaning probate is not always required for those assets.

However, when there’s no surviving co-owner, or if assets were held solely in the deceased’s name, a Grant of Probate will usually be necessary to distribute them according to the will.

When is Grant of Probate Required?

In some cases, a Grant of Probate may not be required – This depends on the value of the estate and the type of assets involved.

Many banks and financial institutions set their own thresholds for releasing funds without probate. These thresholds can vary widely, typically ranging anywhere from £5,000 to £70,000. If the total amount held in the deceased’s accounts falls below the institution’s threshold, they may allow funds to be released without requiring a Grant of Probate.

However, this is not guaranteed and varies from one institution to another. Additionally, even if one bank does not require probate, another might – which leads to complications.

There can also be factors to consider in an estate which means that obtaining a Grant of Probate to prove the entitlement to act is essential, particularly where there may be a dispute in the estate.

Because of this, it can be difficult to determine whether probate is needed without professional guidance. Each estate is unique, and factors such as property ownership, outstanding debts, and the structure of the will all influence the requirement.

The most efficient way to establish whether probate is necessary is to consult an experienced solicitor who specialises in probate law.

How do I apply for Grant of Probate?

It is possible to apply for probate yourself, either online or by post. However, the process involves a significant amount of paperwork and can quickly become complicated.

The application process typically begins once the death certificate has been issued. The executor must then:

Estimate the value of the estate:
This includes calculating the total value of all assets such as bank accounts, property, investments, and personal belongings. It’s important to be as accurate as possible, as this valuation forms the basis for tax calculations.

Report the estate to HMRC:
You will need to complete the appropriate forms to determine whether Inheritance Tax is due. Even if no tax is payable, this step is still required.

Submit the probate application: Once the tax position is established, you can apply for the Grant of Probate. This involves submitting legal forms along with the will and supporting documentation.

Wait for the grant to be issued:
After processing, the probate registry will issue the Grant of Probate, giving you the legal authority to manage the estate. This can take 8 – 16 weeks, on average.

While these steps may sound straightforward, complications often arise. These can include:

• Missing or incomplete financial records
• Multiple bank accounts or investments
• Property valuations
• Outstanding debts or tax liabilities
• Disputes between beneficiaries

Even small errors in the application can lead to delays, which can prolong an already stressful situation.

Why use a probate solicitor?

Although you are legally allowed to handle a probate application yourself, many people choose to work with a specialist probate solicitor.

A solicitor can:

• Ensure all forms are completed accurately
• Handle communication with HMRC and financial institutions
• Identify and resolve potential issues early
• Manage complex estates involving multiple assets
• Help prevent delays or rejected applications

Perhaps most importantly, they can reduce the emotional burden placed on you during an already difficult time. Instead of navigating legal and financial complexities alone, you’re able to rely on an experienced professional to guide you through the process.

This is particularly valuable if the estate is large, involves property, or if there are any disputes or uncertainties.

It is recommended to begin working with a solicitor as soon as possible. If you engage with a solicitor part-way through the process it may take far longer to review and advise on an estate as the solicitor must assess the existing application and check for any discrepancies. It is best practice to involve a solicitor from the beginning so they can be made aware of all relevant facts and assist efficiently.

What happens if you don’t apply for Probate?

If probate is required but not obtained, the estate can effectively remain frozen. This means:

• Bank accounts cannot be accessed
• Property cannot be sold or transferred
• Investments cannot be managed or liquidated
• Beneficiaries cannot receive their inheritance

In addition, you may encounter difficulties when trying to notify organisations such as banks, utility providers, or digital services. Without the legal authority granted by probate, many institutions will refuse to engage with you.

Over time, this can lead to further complications, including unpaid bills, accumulating debts, or administrative issues that become increasingly difficult to resolve.

Is Grant of Probate what you need?

While not every estate requires a Grant of Probate, it is essential to determine whether it applies in your situation as early as possible. Delaying this process can lead to unnecessary stress and complications for both the executor and the beneficiaries.

Handling probate alongside the emotional impact of losing a loved one can feel overwhelming. Seeking professional support from a qualified probate solicitor can provide reassurance, efficiency, and peace of mind during a challenging time.

If you have questions about the probate process or need guidance on your specific circumstances, the team at Daniel Woodman & Co are here to help. Contact our helpful, experienced team today.