Probate – key facts
Once someone has died the validity of their will have to be officially proved – this is called probate. Once probate is granted the process of administering the estate including money, possessions and property can go ahead.
Time limit for applying for probate
The probate application has no time limit but other elements of the process have fixed time scales. An example of this is inheritance tax must be done within 6 months of death and must be paid before the courts can issue a grant of probate.
Time scale for granting of probate
The process can take, on average, between 4 and 8 months. If inheritance tax is not payable the process may only take half the time. Factors that may have an effect on timescales are the types of assets included, the size of the overall estate, if multiple parties are involved or if the deceased person has not left a will. A quick check to see if you require probate can be found on the Co-op legal service website.
Can I get probate without a will?
No will means more difficulty in establishing who should look after the will and who will be the beneficiaries. The “administrator” would usually be the next of kin or a solicitor and there are laws to help decide who the inheritance should go to, for more details check out the Government website.
How can I apply for probate?
You can engage a solicitor to help or apply yourself. The probate application form can be found on GOV. UK website along with a step-by-step guide and helplines.
Unoccupied property insurance
Its important to make sure that assets are properly insured while waiting for probate to be granted. An unoccupied property presents different risks and requires different insurance. If you would like to review the insurance cover for your property please get in touch with the team at Lockyers or call 01924 278222.
Note: Every effort has been made to ensure the above information is correct at the time of this article going online, however, we recommend that you seek professional advice if required.