What is Probate and When is it Required?

Losing a loved one is never easy, and dealing with their estate can feel overwhelming – especially if you’re unfamiliar with the legal steps involved. One of the most important processes you may encounter is probate.

If you’re facing probate for the first time, understanding what it is and when it’s needed can help you move forward with confidence. In this guide, we’ll explain exactly what probate is, why it’s important, and when you do (or don’t) need to go through the probate process. Read on to get clear answers and practical advice.

What is Probate?

Probate is the legal and financial process for dealing with the estate of someone who has died. This includes:

• Proving the will is valid (if there is one) – The court must confirm that the deceased person’s Will is legally valid and reflects their wishes
• Identifying and valuing the deceased’s assets – This involves noting everything the deceased owned and determining its value
• Paying any outstanding debts and taxes – All debts and taxes, including Inheritance Tax, must be settled before anything can be distributed
• Distributing the remaining estate to the rightful beneficiaries – Then, the remaining assets will be distributed to the rightful beneficiaries.

Typically, an executor named in the Will must apply for probate before managing the deceased’s estate. If no will exists, a close relative can apply for letters of administration to carry out a similar role. Before the executor can distribute an estate as an inheritance, all taxes and debts belonging to the deceased must be paid.

Put simply, probate helps prove that a Will is valid and confirms who has authority to administer it for the person who’s passed away.

Why is Probate Important?

Probate is extremely important as it gives the legal authority needed to manage and distribute a deceased person's estate. Without probate, banks and asset holders could refuse to release funds. Here are some more reasons why probate is so important:

• Probate validates the Will
• Probate establishes legal authority
• Probate provides a clear process for distributing assets
• Probate helps make sure debts and taxes are paid (so they don't fall on beneficiaries)
• Probate protects the interests of all parties involved

There would be no formal process to verify the Will, distribute assets or manage debts. Probate provides clarity and peace of mind, ensuring the deceased's wishes are honoured.

When is Probate Required in the UK?

• When a deceased person owns a property or other significant assets in their sole name
• When distributing property and assets among beneficiaries where it was solely owned by the person who died
• When any part of the estate administration is disputed and there are legal proceedings
• When the person owned stock and shares in their sole name
• When their money is over the threshold of £5,000
• When the bank or other financial institutions ask for a Grant of Probate

If probate is needed, you may be wondering who’s responsible for applying for it. When a valid Will has been left, the named executor is responsible for applying for probate. If there’s no Will at all, the rules of intestacy will determine who is responsible for applying for probate.

Find out whether all Wills go to probate or not in this helpful blog post.

When is Probate Not Required?

• When the value of the deceased's estate is low
• If the deceased didn’t own property, land, or shares
• If the deceased was insolvent and had more debt and taxes to pay than they owned
• When the deceased has an insurance policy in the form of a trust
• The deceased's property or assets were jointly owned

The Process of Probate

The process of probate varies in terms of length. No case is the same, so therefore, no probate process will be the same. The overall process often involves complicated legal aspects, including tax and financial work. Let’s take a look at the process of probate in five simple steps to understand it better.

Stage One

The first stage of probate involves identifying the deceased assets. This includes all of their property, possessions, investments and any other assets. All of their debts (if any) will also be calculated to work out the total remaining value of their estate. During this stage, whoever is entitled to inherit from the estate under the terms of the Will should be verified. If there’s no Will, this will be by the rules of intestacy.

Stage Two

Calculating and paying Inheritance Tax comes next. These payments are sent to HM Revenue & Customs (HMRC), along with the Inheritance Tax return. Then comes applying to the Probate Registry for the grant of probate and letters of administration - which are the documents confirming who has the legal authority to distribute the estate.

Stage Three

After probate has been granted, next comes liquidating (to sell) the assets. This includes paying administrative expenses, settling liabilities, and accounting to HMRC for any further tax due to or from the estate.

Stage Four

The second to last stage involves preparing the estate for payments out and into it, and sending estate accounts to the executor of the Will for approval (or the administrator when there’s no Will) before the remaining balance is left to distribute to the beneficiaries.

Stage Five

The final phase involves transferring assets to beneficiaries, provided there are no challenges before or at this stage. The balance of the estate will be distributed in line with the terms of the Will or when there is no Will, in line with the rules of intestacy.

Work With Probate Solicitors You Can Trust

If you’re seeking expert services from a team of trusted probate solicitors in and around the North West, look no further than Bell Lamb & Joynson. Having first opened our doors back in 1821, we have a wealth of experience dealing with a range of clientele.

We hope that our knowledge has rubbed off and you have a clear understanding of probate and when it’s required. Our team of Wills and Probate Solicitors are both supportive and friendly - we don’t want you to go through probate alone. No matter the circumstances of the case, we promise to guide you through the process.

Get in touch with us today to discuss how we can help you.

Probate FAQs

How much does an estate have to be worth for probate?

Probate is usually required if a deceased person’s estate is worth more than £5,000. If the estate's value exceeds this amount, banks, financial institutions, or asset holders will likely request a Grant of Probate before releasing any funds or assets.

Who decides if probate is needed?

Whether probate is needed is mainly determined by the executor of the Will. However, financial institutions such as banks, mortgage lenders, or investment companies may also require probate before releasing funds, depending on the value and type of assets held.

How long does probate take?

The length of the probate process can vary depending on how complex the estate is. Straightforward probate cases generally take around six to twelve months to complete. However, complex estates involving property sales, multiple beneficiaries, disputes, or foreign assets can take longer. Find out more about how long probate takes here.

What happens when probate is granted?

When probate has been granted, the executor or administrator will be given the legal authority to manage the deceased person's estate. This includes settling debts and taxes, gathering assets, selling property and distributing the remaining estate to beneficiaries as per the Will.

Can your Will be challenged when probate has been granted?

Yes, Wills can be challenged after probate has been granted. Some reasons for this may include lack of mental capacity when the Will was written, improper execution or undue influence. Learn more in this helpful blog post.

How much does probate cost?

The cost of probate can vary depending on the size and complexity of the estate, and the professional probate services you choose to work with. Probate can cost anything from £1,000 to over £30,000, with more complex estates costing more. Some costs to consider include solicitor fees, court fees, and admin expenses. Most solicitors charge 1–5% of the estate value. We expand on this further in our blog post “How Much Does Probate Cost?”.

Does probate become complicated if the deceased had foreign assets?

Yes, the probate process will likely be more complex if the deceased had foreign assets, as other countries have different rules than the UK. The best way to go about this is by speaking with a professional solicitor, who can advise and guide you on what to do.