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 (if no will exists) need to deal with the dead persons assets and property, to do this an official Court form from the probate registry is required. If a will exists the Court form 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 by either executors or administrators. 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?
Whether a grant of probate or letters of administration are required depends upon the size of the Deceased’s persons assets.
The law provides that if the deceased’s persons estate is over £5,000, then a grant of probate or a grant of letters of administration ( if no will exists ) will need to be obtained from the probate registry. 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 and we will be able to advise you.
Probate Forms
Obtaining a grant of probate or letters of administration 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 £312,000 then an inheritance tax form IHT 200 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/cto/pa1.htm
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 Costs & Fees
If you apply to the probate registry in person the probate fee is £90 If the assets of the deceased person are below £5,000 then probate fee is NIL. Additional copies of a grant of probate or letters of administration maybe obtained from the probate registry at £1 per copy. You will need to write to the probate registry direct to obtain a copy stating the deceased person’s date of death, full name and last known address.