One of the most common questions we are asked in relation to administering an estate is: “Do I need a Grant of Probate?”
The answer depends on the type and value of the assets left behind, as well as how those assets were owned.
What is a Grant of Probate?
A Grant of Probate is a legal document issued by the Probate Registry that confirms the authority of the executors named in a Will to deal with the deceased’s estate. However, in some circumstances the executors have authority without needing a Grant.
If there is no valid Will, a similar document called a Grant of Letters of Administration may be required. Everything mentioned below will also apply to needing this type of Grant.
When Is a Grant of Probate Required?
Whether a Grant is needed will depend on the assets in the estate.
A Grant of Probate is commonly required where the deceased owned:
- A property in their sole name.
- Significant savings or investments held solely in their name.
- Shares or other financial assets that cannot be transferred without proof of authority.
- Bank accounts exceeding a certain threshold; each organisation sets their own.
When Might a Grant Not Be Required?
There are some circumstances where a Grant of Probate may not be necessary. For example, if a property is owned as joint tenants, ownership will usually pass automatically to the surviving owner under the principle of survivorship. The same principle applies to joint banks accounts.
For small estates or low value assets, some financial institutions will release funds without requiring a Grant if the balances held are below their internal thresholds.
How Can a Solicitor Help?
Determining whether a Grant of Probate is required is not always straightforward and will depend on the type and value of the assets involved. We can sometimes find ways around the need to apply for a Grant as we are experienced in dealing with all different types of assets and organisations. As well as assisting with the full administration of the Estate, we also offer a fixed fee ‘Grant Only’ service, where we can assess whether a Grant is needed, prepare the application and obtain the Grant on your behalf, leaving you free to deal with the remainder of the estate administration yourself.
Contact Us
If you have recently lost a loved one and are unsure whether a Grant of Probate is required, our experienced Private Client team would be happy to assist. We can advise on the steps involved, deal with the probate application on your behalf and guide you through the administration of the estate with sensitivity and care.
Please contact us to discuss your circumstances and arrange an initial consultation.