What is Probate?

The term Probate means the official proving of a Will. 

When someone dies leaving a Will, it usually names one or two people to administer the estate: the executors.  However, in order to have the legal authority to do this, the executors may need to apply for a Grant of Probate. 

If someone has died without leaving a Will, the person wishing to deal with the estate may have to apply for another type of grant called a Grant of Letters of Administration. 

You will normally need to apply for a Grant of Probate or Letters of Administration if the person who died had:

• More than £5,000
• Stocks or shares
• A house or land
• Certain insurance policies

When a person dies with assets less than this, it may be possible to administer the estate without applying for either type of Grant.

Acting as executor or administrator for someone’s estate can be a daunting task.  Many people find it stressful at an already difficult time.  If you have this role, you'll need to:

• Find out and prepare a detailed list of the assets and debts of the estate
• Open an executor’s bank account
• Pay any necessary tax
• Complete documents required by HMRC and the Probate Registry
• Swear the papers at the Probate Registry
• Receive the Grant and send copies to those who jointly own assets with the estate
• Collect all the assets due to the estate and pay any debts
• Pay any legacies and hand over any bequests
• Distribute or invest the residue of the estate in accordance with the Will or the rules of intestacy.

Advantage Legal have experience in all aspects of administering estates.  Whether you need help for the whole process or just part of it, we’re here for you. 

And as we work on a fixed fee basis, you won’t need to worry about unexpectedly high legal bills either. 

Advantage Legal : We bring you peace of mind.