Questions and Answers

When a person dies somebody has to deal with their estate by collecting in all the money, paying any debts and distributing the estate to those people entitled to it. The following answers may be useful to you, if you have any other questions or would like to contact someone, please do contact us.

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1. What is probate?

   When a person dies somebody has to deal with their estate (the money, property and possessions left) by collecting in all the money, paying any debts and distributing the estate to those people entitled to it. The term probate often means the issuing of a legal document to one or more people authorising them to do this.

   The probate registry issues the document, which is called a grant of representation. There are three types:

   • Probate - issued to one or more of the executors named in the deceased’s will.
   • Letters of administration (with will) - issued when there is a will, but there is no executor named, or when the executors are unable to apply or do not wish to be involved in dealing with the estate.
   • Letters of administration - issued when the deceased had not made a will, or the will made is not valid.

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2. Can the estate be distributed without applying for Grant of Probate or Letters of Administration?

   If the assets are worth more than £5,000, banks and building societies cannot release funds, insurance companies will not pay out and properties cannot be sold until Grant of Probate or Letters of Administration are issued. Organisations holding money in the deceased's name need to know to whom that money should be paid, and the grant is proof that the person named in it may collect the money. It may not be necessary to apply if all assets are jointly owned and are automatically passing to a surviving spouse.

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3. Who needs to apply for grant of probate?
   Executors or administrators of an estate need to apply unless the assets come to less than about £5,000.

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4. What happens when somebody dies without having made a will?

   If someone has not made a will, their next of kin will usually need to administer their affairs. They have to apply for a Grant of Letters of Administration to obtain authority to deal with the dead person’s assets. The assets must be handed out according to the rules of intestacy, which can be complex.

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5. What does your probate service include?

   We will:
   

   • Collect details of all assets and liabilities in the estate
   • Complete form IHT 200 as required and pay Inheritance Tax when requested
   • Establish if the estate is solvent
   • Establish if there is sufficient money to meet all legacies in full – if not, deal with the subsequent problems
   • Complete and return all Probate Registry Forms
   • Arrange funds or a loan to pay probate fees and Inheritance Tax
   • Receive the Grant of Probate
   • Place the Statutory advertisement for creditors and other claimants
   • Present the Grant of Probate to the appropriate authorities
   • Collect all the assets due to the estate
   • If the District Valuer has not agreed with the valuation of the property, negotiate a new value and arrange payment of the extra tax
   • Complete the Income Tax forms and Capital Gains Tax forms for the period of administration
   • Apply for Form 30 and obtain Inheritance Tax Discharge Certificate
   • Release sufficient cash to pay all debts
   • Where relevant, complete stock and share transfer forms and draft an Assent for the house
   • If there has been a claim under the Inheritance (Provision for Family and Dependants) Act 1975, deal with the claim
   • Prepare the Estate Accounts
   • Administer any trusts or life interests created within the will or statute
   • Obtain approval of the Estate Accounts and distribute the assets to the beneficiaries of the will

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6. How long does it take to administer an estate?

   This will vary according to how large the estate is and how complicated the affairs of the person who has died. Beneficiaries may have to be traced and found. Executors can expect to take around 6-9 months to fully adminster the estate, and in complex situations, this can be longer.

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7. What happens if we can't trace all the beneficiaries?

   A common mistake made by family is to assume they will inherit the share of a missing beneficiary because they cannot be found. This is not the case - the executors can take the following action:

   • Insure against the possibility of a missing beneficiary coming forward, and then distribute their share against the known beneficiaries
   • Apply to court for a Benjamin Order. This Order permits the executors to distribute the estate as the court thinks fit. The Order protects the executors and known beneficiaries from future claims made on the estate by unknown beneficiaries, or those who could not initially be traced
   • Pay the missing beneficiaries’ share to those known, but in return the beneficiaries promise to repay the inheritance if the missing beneficiaries come forward
   • Pay the missing beneficiaries’ inheritance into court

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8. When do we have to pay inheritance tax?

   Any inheritance tax has to be paid before you apply for the Grant of Probate, so it can't come from the assets themselves.

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