What is Probate and what does the process consist of?

Probate is the legal and financial processes involved in dealing with assets and debts of a person who has died. These assets may include property, money and personal possessions such as family heirlooms.

On your death, the Executors named in your Will are responsible for applying for a Grant of Probate. A Grant of Probate is a legal document that the Probate Registry issues to the Executors.

The Grant can be needed to deal with certain assets within an estate, for example, you will always need a Grant of Probate if you need to sell or transfer a property which was owned by the deceased.

In some circumstances you may also need Probate to deal with the bank accounts and financial investments. Banks and financial institutions set their own limits on when they need probate and when they don’t. Usually if a bank account has less than £10,000 then they will not require sight of the Grant of Probate. If its above £50,000 then they will need the Grant of Probate, between the two values it will depend on the bank in question.

If there isn’t a Will, you apply for what’s called a Grant of Letters of Administration. Letters of administration is a similar document issued by the Probate Registry allowing you to act as an Administrator for the estate of the deceased person.

Here is a video recorded by our Joint Head of Wills, Probate & Trusts, Stephen Coates:

Here are some other articles which our Probate team have written, which you may find beneficial:

• What You Need To Know – Funeral Directors Offering Probate Services
• The Importance of Having a Will
• Including your pets in your Will