Probate Guide

Probate is the legal process of obtaining court approval to carry out the instructions outlined in someone’s will. Typically, this responsibility falls to the ‘executor’ designated in the will. Once authorised by the court, the executor receives a ‘grant of probate’ or ‘grant of letters of administration’.

With a grant of probate or letters of administration in hand, the executor can initiate the estate settlement process. This guide provides a detailed walkthrough of the probate procedure, guiding you through each step.

Applying for probate following a person’s passing should be straightforward, especially if the estate is not overly complex.

Applying For Probate

Here are the 5 main steps involved in obtaining the grant of probate when applying yourself or with the assistance of a probate solicitor. If there is no will, the next of kin will receive a ‘grant of letters of administration’ instead of a ‘grant of probate’, but the application process remains the same.

The 5 steps of the probate process are:

Register The Death

Before applying for probate, it’s necessary to register the death, which must be done within 5 days of the person’s passing. Contact a registry office promptly; using the registry office in the area where the person died can expedite the process, and some hospitals have their own registry offices.

When registering the death, you will receive a Certificate of Registration of Death, commonly known as the ‘Death Certificate’.

In the past, after someone’s death, it was required to individually notify various government organisations. The Tell Us Once service simplifies this by allowing you to inform most government bodies at once. Upon registering the death, you’ll receive a Tell Us Once reference number and instructions for the next steps.

Assessing The Estate’s Value

To grasp the deceased’s assets and make informed decisions regarding inheritance tax, it’s essential to assess the estate’s value. Below, we outline the key steps involved in this valuation process.

1. Step 1: Catalogue and Appraise Possessions and Assets Compile a comprehensive list of the deceased’s possessions and estimate their respective values. Contact relevant banks, building societies, insurance companies, and other pertinent organisations to obtain accurate valuations of assets like stocks, shares, liabilities, and life insurance pay-outs.
2. Step 2: Catalogue and Assess Joint Assets Identify and assess any joint assets shared by the deceased with another individual, such as property co-owned by two people. Estimate the market value of these assets if sold independently, then divide this value by two.
3. Step 3: Catalogue and Appraise Gifts Take into account any gifts made within the seven years leading up to the individual’s death when valuing the estate. Monetary gifts can be straightforward to value, while gifted possessions should be appraised based on estimated sale values in the open market.

Organise Inheritance Tax

Inheritance tax is applicable to estates valued at over £325,000. If the total valuation of the deceased’s estate, including gifts made within the last 7 years, exceeds this threshold, you must arrange payment of inheritance tax using an IHT400 form.

Even if the estate’s value falls below the threshold, you still need to complete an inheritance tax form (IHT205) to confirm this. Completed IHT forms are necessary for submitting the probate application online.

File the Probate Application

Once you have valued the estate, you need to submit the probate application (PA4P). This step of the probate process involves completing several forms.

For assistance with completing the forms, you can contact the probate and inheritance tax helpline, where you can receive guidance over the phone.

The probate application can be submitted online or using paper forms.

Apply for Probate using Paper Forms

For a paper-based application, you can download the required probate forms from the Gov.UK website. Once filled out, you should send the forms along with the following documents to your local probate office:

• PA4P probate application form
• The death certificate
• A completed inheritance tax form
• The original Will and three copies

Apply for Probate Online

To complete the online application form, ensure you have the following documents available:

• The death certificate
• A completed inheritance tax form
• The original Will

Pay The Probate Fees

The application fee for probate is £215 for estates valued at more than £5,000. Probate is free if the estate value is below £5,000. Additionally, each extra copy of the probate document costs £1.50. Having multiple copies allows you to send them to different organisations simultaneously, expediting the estate settlement process.

What happens once probate is granted?

After receiving the grant of probate, you can begin the process of settling the deceased’s estate. This involves distributing payments to the appropriate beneficiaries according to the terms of the will (or the rules of intestacy if there is no will).

Additionally, you should prepare final estate accounts for the beneficiaries and file a final tax return.