- February 10, 2014
- Posted by: Steven Mather
- Category: Information Guides
What is Probate?
Probate is a term commonly used when talking about the right to deal with someone’s estate when they have died. Here, Sandy Kaur, a Probate Solicitor in Leicester, sets out in brief what you need to know about probate.
If the person who has died leaves a Will
People called ‘executors’ may be named in the will to deal with the person’s estate on their death. The executor applies for a ‘grant of probate‘ from the probate registry.
The grant of probate is a legal document which confirms that the executor has the authority to deal with the deceased person’s estate. They can use it to show to organisations that they have the right to access funds, sort out finances, and collect and distribute the deceased person’s estate in accordance with the Will.
If the person who has died has not left a will
If there is no will, a close relative of the deceased can apply to the probate registry to deal with the estate. In this case they apply for a ‘grant of letters of administration‘. Just like the grant of probate, the grant letters of administration is a legal document which confirms the administrator’s authority to deal with the deceased person’s estate.
The Intestacy rules set out who will be entitled to the deceased person’s estate.
Is a grant of probate/representation always needed?
When a grant is needed
A grant may be needed when the person who dies leaves:
- £10,000 or more
- stocks or shares
- certain insurance policies
- property or land held in their own name
When a grant may not be needed
If the estate is small some organisations, such as banks and building societies may release the money on production of the Death Certificate and without the need for a Grant.
A grant may not be needed where:
- the person who died left less than £10,000
- they owned everything jointly with someone else and everything passes automatically to the surviving joint owner
If you are unsure about whether a Grant is needed to deal with the deceased person’s estate or have any queries feel free to give our probate solicitors leicester a call and we will be happy to help. We have offices in Leicester, Blaby and Coalville.