What is probate?
When a person dies their estate will be dealt with by someone, this could be a family member, friend or a professional advisor. Their estate may contain a home, bank accounts, shares, other investments, personal possessions, and debts.
The person or people who deal with the estate or “administer” it are called the personal representatives.
Personal representatives apply to court for a “grant of representation”. The court they apply to is called the probate registry.
The grant of representation is the proof of the personal representative’s legal authority to be administering the estate. They can use it to collect in the assets of the person who died, pay their debts, and then distribute the balance according to the person’s will if they had one or the intestacy rules if they did not have a will.
Different types of grant
You may have heard different names for the grant of representation:
- Grant of probate – where there is a will and the people applying are named as executors
- Grant of letters of administration – where there is no will
- Grant of letters of administration with will annexed - if there is a will but the executors named are unable to act (for example they have already died or lack mental capacity)
Do I need to get a grant?
Some assets can be administered without a grant such as joint bank accounts. If an estate contains only assets which do not require a grant, then it may be possible to administer the estate without obtaining one although there may be other reasons why obtaining a grant might be a good idea.
How do I apply?
The application is made either online or on a paper form depending on what type of application you are making.
When to apply?
Once the personal representatives have gathered all the information about the assets and liabilities of the estate they need to consider if an inheritance tax return needs to be completed and sent to HMRC. If this is not needed then they can apply for the grant at that time, if it is needed then they need to wait for HMRC to confirm they have received the return and tax if some needs to be paid.
How much does it cost?
The court fee for the application is currently £300 and copies are £16 each. It is useful to get several copies so that one can be sent to each of the financial institutions where assets were held.
If the estate has a value of £5,000 or less there is no fee for the grant application.
If you have instructed a professional to assist you then there will be additional fees which they will inform you of when you instruct them.
How long does probate take?
Personal representatives need to obtain information from others before they apply for the grant. How quickly those replies are received, and whether an inheritance tax return is needed, will affect the time it takes for the application to be made.
Currently the grant is usually obtained within 12 weeks from the application being made, more complex applications can take longer.
Finalising the administration of the whole estate can take many months or sometimes years.