If you suddenly find yourself dealing with Probate it can feel like an enormous task, especially if you are also coping with loss. Dealing with unfamiliar tasks and language can feel overwhelming so it’s essential to understand the process and the terminology. We will address this and more here.
The first questions most people ask are: What is Probate? and What is Estate Administration?
Both involve the process of dealing with the deceased estate but they have different meanings. It’s easy to get them mixed up
Probate
Probate can be required when someone dies but not always. It is sometimes mistaken to mean all the tasks involved in handling the deceased’s estate but it actually only refers to obtaining a grant to enable you to carry out the tasks.
‘Grant of Representation’, is an umbrella term that refers to the ‘Grant of Probate’ or ‘Letters of Administration’ (if there is no Will) in England & Wales.
The Grant of Probate must be applied for via the following links:
If there is a Will use PA1P
If there is no Will use PA1A
The details plus the death certificate must be sent to the Probate Registry along with an original Will and death certificate, with details of the full value of the estate.
Probate can be applied for online but the documents still need to be sent by post after the online submission.
Applications take 6-8 weeks once submitted. However, there are still delays due to Covid. Online submissions are recommended.
How do I know if Probate is required?
Generally, Probate is required if the deceased owned property solely in their own name. A bank or building society may also request to see The Grant of Probate before they can release funds.
If assets were held jointly they are automatically passed to the surviving spouse or civil partner so in that instance Probate is unlikely to be needed.
It is not true that Probate is not needed when there is a Will in place. If the value of the estate is over the financial institutions threshold (financial institutions have differing thresholds) then Probate would still be needed, even if there was a Will and the property was in the deceased sole name.
The government’s set fee for obtaining the Grant of Probate is £273 unless the estate value is less than £5,000, in which case no fee is payable.
What is Estate Administration?
This simply means the process of handling the deceased’s legal and tax affairs. Obtaining the Grant of Probate is part of this process. It also involves dealing with the deceased’s debts and assets and then distributing the remaining inheritance to the beneficiaries.
There are a number of tasks that fall into this process, here are a few examples – sorting out shares and investments, redirecting post, cancelling utility bills, selling properties, asset valuations, sorting out inheritance tax, sorting out any income tax due or cancelling any benefits.
The process of administering someone’s estate can take a great deal of time and energy and is often stressful, particularly if you are also grieving.
However, just because you have been asked to do it doesn’t mean you have to shoulder the full burden alone, you can appoint a professional to handle the estate, but be aware of the costs as these can be substantial.
How long does estate administration take?
As it is a complex legal process, it can take months to complete estate administration. Each person’s case is different so, it is impossible to predict.
What is the difference between probate and estate administration?
In summary, probate is part of the wider estate administration process. Probate provides you with the legal right to administer the deceased’s estate.
Probate is not always needed but estate administration must always be carried out, regardless of the value or complexity of the estate.
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