HOW TO OBTAIN A GRANT OF PROBATE

What is probate?

Probate is the term given to the administration of a Deceased person’s estate. When someone dies the executors of the will or administrators need to deal with the dead persons assets and property, to do this an official Court document is required. If a will exists the document is called a grant of probate while if no will exists it is called a grant of letters of administration.

Once the grant is obtained this provides the authority for the estate to be administered. This typically includes the sale of property and the collection of cash from banks and building societies. By showing the Grant to the bank they will know that you have the right to handle the estate and therefore receive money from the Deceased’s persons account.

Do I Need Probate?

The law provides that if the deceased’s persons estate is over £5,000, then probate will be requied. There are lots of other reasons why a grant may also be required, for example :-

Shares cannot be sold without a grant.
Property if held by the deceased person as a tenant in common cannot be sold without a grant.
The deceased may have business interests that require a grant.
A grant of probate maybe be beneficial for reducing inheritance tax in the future.

If you are in any doubt as to whether a grant of probate is required please call our free probate helpline on 0844 740 1637 and we will be able to advise you.

Forms

Obtaining probate can be a complex matter requiring completion of a number of probate forms, which typically the probate registry will send onto you.
Find details of your nearest probate registry.

Even if the estate is below the current inheritance tax threshold of £325,000 then an inheritance tax form IHT 400 or IHT 205 will be required. These forms set out the deceased person’s assets and liabilities as well as any inheritance tax liabilities which maybe due.

The above forms maybe downloaded by visiting the HM revenue & customs website at :- www.hmrc.gov.uk

As well as completing an Inland Revenue return, the probate registry require the executor or administrator to complete a PA1 probate form. This maybe obtained from the probate service at :-
www.hmcourts-service.gov.uk

Probate Solicitors

The costs of applying for probate, ultimately depend upon whether e application is made in person. Factors to consider when deciding whether to use a Solicitor for probate include the following :-

Speed of obtaining the Grant - it can be generally be quicker using a Solicitor as no interview at the Probate Registry is required when a Solicitor is used
Property of a Deceased - if the Deceased estate includes a property a Solicitor will need to be instructed at some stage and therefore using a Solicitor for the probate can assist in the sale of a Deceased person's property
No Will - if the Deceased dies without a Will, having a Solicitor to advise on the Intestacy rules can be sensible
Inheritance Tax - if the Deceased estate involves Inheritance Tax issues, a Solicitor may well be help reduce the Inheritance tax eg. through a Deed of variation
Contested Probate -if the will is in dispute, having a Solicitor to advise upon procedure is often very important
Fully insured - a Solicitor carries professional indemnity insurance for all work undertaken, which does help alleviate individual concerns a Executor may have when undertaking probate personally

Probate Costs and Fees

Most Solicitors charge hourly rates and a percentage of the estate, however the feedback from our clients is that such a method of charging for probate is unfair. Instead we charge a simple easy to understand fixed fee,. As we specialise in Probate we are able to give you a fixed fee quote for the cost of probate at the beginning of the case. If you would like a fixed fee quote, please call us on 0844 740 1637 or e-mail here.