The grant of probate process explained
For personal representatives or executors of a will who have been assigned to handle the complicated tax and legal procedures following the death of someone is never easy, especially if you have no prior experience. Whilst the grant of probate process is not always a quick one, we aim to ensure everything runs as smoothly as possible. This guide will run you through the process leading up to obtaining a Grant of Probate, which is called the administration period.
What is a grant of probate?
A Grant of Probate is an official document the Probate Registry issues when someone makes a will.
Step one – Register the death
The first part of the probate process is to register the death, you will need to do this within five days of the individual passing away with the registrar. The documents you will need to obtain to do this include; a medical certificate which states the cause of death, a birth certificate, marriage or civil partnership documents, NHS number or NHS card and an organ donation card if the individual has one.
You will then be issued with a death certificate which will be needed for the various steps leading to and for the probate process outlined on the steps below.
Step two – Locate a will
A copy of the person’s will may be in their property or with their solicitor. If you are unsure where the will is held or if a will has been left then there are various tools which you can use to find it including resources such as Willfinda. The will should name the personal representative(s)/the executor(s) who will be in charge of managing the deceased’s estate.
Step three – Make funeral arrangements
You will have been issued with a death certificate from the registrar which will allow you to go ahead and make funeral arrangements. Wills generally contain the final wishes of the individual including whether they opted for a burial or cremation.
Step four – Value the estate
The next step is to value the estate and identify assets and debts that may not be specifically highlighted in the will, as some wills can be extremely detailed and others very brief. As you will now have a copy of the death certificate you can begin to let all of the organisations know that the individual has passed away, those organisations could include banks and building societies, credit card companies, utilities and anywhere the individual held assets or paid money to.
Then you will need to work out the value of the deceased’s assets including properties, savings, pensions, investments, personal possessions and also create a list of creditors who the deceased may owe money to, i.e. mortgages and credit card companies. You may need to enlist professional help for this, especially when it comes to valuing property and identify and pay any creditors.
Step five – Work out inheritance tax
Once you have the value of all of the deceased’s assets and paid any creditors you will need to calculate inheritance tax, this can be done by the executor of the will directly as it is their personal responsibility to ensure that this is completed, therefore getting a professional to handle this matter on your behalf will be beneficial to ensure a correct calculation and payment to the Inland Revenue.
It is worth noting that inheritance tax needs to be paid within six months of the individual passing away.
Step six – Apply for probate
If a will has been made then you will need to apply for a grant of probate. This will give you the legal right to handle the deceased assets on their behalf. If no will was made then you will need to apply for Letters of Administration which is just like a grant of probate in that it gives you legal control over the person’s estate.
How long does the grant of probate process take?
Applying for a Grant of Probate can be done here and it usually takes between four weeks and three months. To start an application you will need a copy of the deceased’s will and death certificate. You will also need to prove that you have already calculated and reported the value of the estate to HMRC.
An executor of a will has a responsibility to manage and protect the deceased’s assets, failure to do so means you will be liable to both creditors and beneficiaries of the estate.
Step 7 – Post grant of probate estate admin
Once you have obtained your Grant of Probate the law states that you will need to place a Deceased Estates Notice, even if you think you have contacted all creditors, posting one of these notices will show that you have made enough effort to find any additional ones. If you fail to do this step and a creditor comes forward then you, as an executor, will be liable.
Step eight – Finalise and distribute the estate
After two months and one day since the Deceased Estates Notice has been posted and once debts and taxes are paid in full you can then begin to distribute the deceased’s estate to the beneficiaries as outlined in the will.
