A Grant of Probate is a document sealed by the Probate Registry which confirms a Will is valid. The Grant of Probate will give the executor named in the Will the official authority to deal with the estate.

If a person passes away without a valid Will, the estate will be dealt with in accordance with the intestacy rules. There is an order of inheritance under the intestacy rules and that person may need to apply for a court sealed document called a Grant of Letters of Administration to deal with the estate.

When do I need a Grant of Probate?

There are some instances when a Grant of Probate or Grant of Letters of Administration are not needed. For example, where a person only leaves limited cash assets, does not own property or holds all their assets jointly with somebody else.

If a person leaves a property and/or shares to sell or transfer, a Grant or Probate or Grant of Letters of Administration will be required. As a general rule, each bank and building society has their own set threshold determining when they will ask for a Grant of Probate before releasing funds. This threshold is usually in excess of £10,000.

What do I need to do before applying for a Grant of Probate?

The first step is to ascertain the value of the assets and liabilities of the estate. If the value of those assets exceeds the inheritance tax free allowance, the executors will need to submit an HM Revenue and Customs Account and pay the initial inheritance tax.

When an estate is subject to inheritance tax, it is strongly advised to obtain advice from a solicitor who can advise you on ways to mitigate inheritance tax by applying the available exemptions, allowances and reliefs.

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Originally established in Kendal in 1871, Arnold Greenwood has been trusted by generations for clear, dependable advice. For advice on Wills, Inheritance Tax Planning, Lasting Powers of Attorney, estates or trusts, contact a member of our team at our Kendal or Grange over Sands office.