Dealing with the death of a loved one is never easy, and the legal processes that follow can feel overwhelming. Probate is one of those terms that crops up but isn’t always well understood, but if you’re an executor or administrator, knowing how it works will give you clarity and confidence at a time when things may feel uncertain. From applying for probate, through to consulting with solicitors, here’s a practical guide to what probate is, when it’s needed, and how it works in practice.
What is probate and when do you need it?
In simple terms, probate is the process through which an executor or administrator gains legal authority to deal with someone’s estate after they pass away – with the right to access financial accounts, sell property, and distribute the assets. You will need probate if the deceased owned property, had savings over a certain threshold, or left investments in their name. If the deceased left a valid will, the named executors must apply for a grant of probate. If there’s no will, you need to apply for ‘letters of administration’ and the law sets out who can inherit. Note that if you’re dealing with smaller estates with joint bank accounts or jointly owned property, probate is likely not necessary.
From application to distribution: Breaking down the probate process
The probate process usually starts with valuing the estate – gathering details of assets like property, savings, and investments, as well as any debts. You might need to calculate and pay inheritance tax (IHT) before the estate can be distributed (taking note of changes in IHT that widen the scope of taxed assets). Next, the executor applies for a grant of probate from the court. Once granted, they can collect assets, settle debts, and distribute what remains according to the wishes set out in the will or, if there’s no will, the law. It can be a complicated process, so many executors turn to experienced probate solicitors to help with each stage, from preparing forms to handling tax calculations.
Handling common probate challenges
Probate can sometimes be straightforward, but challenges can arise. Beneficiaries can be hard to locate, or the estate may include complex assets like overseas property. It’s also becoming increasingly common for family members to contest the will. In these situations, it’s advisable to seek professional support from probate solicitors who can ensure that the process complies with the law, reduce the risk of disputes, and ease the pressure on families. To smooth the process, make sure to keep thorough records, communicate clearly with beneficiaries, and start the process as soon as possible to avoid delays.
Finding clarity and support through the probate process
Probate can seem daunting, but understanding what it is and how it works can really ease the journey. By knowing when it’s required, following the main steps, and recognising when to seek expert legal help, families can manage the process much more confidently.