What is a Grant of Probate?
If you have recently lost a loved one, you may need some guidance on matters of Wills and Probate. A Grant of Probate is the legal right to control a deceased person’s property. This property is referred to as their ‘estate’. It is helpful for you to understand the basics of probate law if you have recently lost a close relative or spouse. It is beneficial to know your rights, and the necessary processes to act as an executor of an estate if one is left in the will. Alternatively, if there is no will left, you may also apply for a Grant of Probate to become the administrator of the estate.
What does a Grant of Probate mean?
A Grant of Probate is authorised by the courts after an application process. A Grant of Probate grants you the legal right to access the bank accounts of the deceased. Access to bank accounts will allow you to pay inheritance tax. This also allows you to collect assets or any revenue created from the sale of assets. A Grant of Probate also allows you to pay any remaining debts and distribute the estate once tax and debts have been addressed.
What happens if there is no Will?
This may be stressful, but Seatons are here to help you. If no Will was left by the deceased ( also known as Intestacy ), you can apply to become the administrator of the will. You can apply for a Grant of Administration if you are either the spouse (marriage/civil partnership), the next of kin, or the child of the deceased. You cannot apply for a Grant of Administration if you are not married or in a civil partnership with the deceased.
When will a Grant of Probate not be necessary?
A Grant of Probate will not be necessary where the estate is held in a joint name. For example, in a shared savings account. A Grant of Probate will also not be necessary where the estate does not include land, shares or property.
How do you apply for a Grant of Probate?
To apply for a Grant of Probate, it is advisable that you seek assistance from Seaton’s Solicitors as we specialise in Probate and Estate Administration work. Our team have accreditations with the Law Society ‘Wills and Inheritance Quality Scheme’ so you can be assured that we will demonstrate high levels of expertise throughout the probate application process.
The application process for a Grant of Probate includes:
1. The completion of a Probate application form.
2. The completion of an Inheritance Tax form.
3. An oath to be sworn after receipt of these applications.
For more information on this process, call us on 01536 276300 or contact us online. We have a specialised team who would be happy to help you administer your loved ones estate. We are a team of sympathetic, friendly professionals who provide an excellent service. We are glad to assist you in these legal complexities during this difficult time.