DO I NEED PROBATE
Estates under £5,000
If the total value of assets held in the deceased's sole name (excluding assets held jointly such as a house) does NOT exceed £5,000.00 then it is likely a Grant of Probate or Letters of Administration will not be required. If the assets of the deceased are under £5,000.00, banks or building society providers will generally simply ask for a certified copy of the Will together with the Death Certificate before they release any monies.
Estates over £5,000
If the total value of assets in the deceased's sole name (excluding assets held jointly such as a house) exceed £5,000.00 then it is likely a Grant of Probate or Letters of Administration will be required to collect the assets and deal with the estate.
Always take advice prior to obtaining a grant as there may well be Inheritance Tax issues that need to be considered. Our Solicitor’s helpline number is 0870-0677 254 and can deal with any queries that you may have.