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How To Obtain Probate In 7 Easy Steps

By Philip Weston

Republish: EasyPublish™ Published: 03Mar2012 Word count: 685 Viewed: 63 time(s) Get Free Content For Your Site

If you need to obtain a grant of probate and are wondering how to go about it then the information that is about to follow will help you get off to a "fast start".

But before I get into that it may help if I recap on what "probate" is and why it is required. The term "probate" is commonly used to describe the process of dealing with a deceased person's estate (their money, possessions and property). The executor of the Will needs to apply to the Probate Registry for a "Grant of Probate" so that they can legally collect money from banks, building societies and other organisations which hold assets belonging to the deceased person, as well as sell or transfer ownership of a property. Without a Grant of Probate these assets will remain "frozen" and inaccessible.

If the estate is straightforward, it is perfectly possible for the executor of the Will to obtain probate without the need for a solicitor.

7 Steps To Obtain Probate:

1. Locate the original Will. Probate is rarely granted if there is only a copy of the Will available. The Will should be checked to establish who has been appointed as the "Executor". It is the responsibility of the Executor to apply for Probate and carry out the terms of the Will.

2.Notify all interested parties of the death. This needs to be done in writing and the death certificate should be enclosed. Interested parties include banks, building societies, insurance companies, share registrars, investment and ISA providers, pension providers, tax and benefits authorities, creditors and so on.

3. Value the deceased persons estate. A date of death valuation of the deceased's assets needs be obtained as this information has to be declared on the probate and inheritance tax forms.

4. Work out whether any inheritance tax is payable. For the tax year 2011/12 inheritance tax is not payable if the deceased person's estate is valued below the inheritance tax threshold of £325,000. No inheritance tax is payable if the spouse is the sole beneficiary of the estate. If the deceased was a widow or a widower the inheritance tax threshold is increased to £650,000.

5. Complete the inheritance tax form. For estates valued below £325,000 form IHT205 should be used. If inheritance tax is payable form IHT400 should be used.

6. Complete the probate forms.Once the forms have been completed they should be submitted to the nearest Probate Registry, together with the inheritance tax form and the Probate Application Fee (currently £105), and any other documents requested by the Probate Registry.

7. Arrange an interview at the Probate Registry. Once the probate application paperwork has been processed by the Probate Registry they will contact you to arrange an interview. The purpose of the interview is to confirm the details given on the probate forms, to answer any queries they or you may have and for you to sign a form of oath confirming that the information you have given is true to the best of your knowledge.

The Grant of Probate is then issued by the Probate Registry, assuming there are no problems or further queries. Probate then needs to be registered with the financial organisations which hold assets belonging to the deceased person. It is then down to the executor to finalise the administration of the deceased person's estate and implement the terms of the Will.

The whole process usually takes between 4 and 12 weeks, depending on how quickly you proceed.

The process is relatively straightforward, but does involve a lot of paperwork and form filling. A solicitor is not usually required, unless the estate is complicated. If you need to obtain probate and are considering dealing with this yourself, it may be advisable to do this with reference to a DIY Probate Pack or other such guide, to ensure that you avoid making any costly and embarrassing errors.

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