This website provides information on Probate in the UK and related topics. This is NOT a government website and is not affiliated with any UK department including the Ministry of Justice. Every effort has been made to insure the accuracy of the information provided.
Welcome to what-is-probate.org.uk!
Explore our web site and if you have any questions, please drop us an email.
Do I Need to Get Probate?
Whether an estate requires probate is usually dependent on the value of the deceased’s assets and the form which they take.
You will need to consider the following three factors;
Whether an estate requires probate is usually dependent on the value of the deceased’s assets and the form which they take.
You will need to consider the following three factors;
|
●
|
Assets Value
|
|
●
|
Property Ownership
|
|
●
|
Busines ownership
|
Asset Value
If an estate is valued at less than £5,000, then probate is not usually required.
However it is wise to contact each financial institution you wish to release funds from to confirm their own probate policy.
Some institutions will require sight of a Grant of Probate before releasing any amount of funds which means you will still have to go through probate even for very small estates.
Others will release much larger amount of funds, usually up to £15,000, before seeing a Grant of Probate and therefore probate may not be required.
If an estate is valued at less than £5,000, then probate is not usually required.
However it is wise to contact each financial institution you wish to release funds from to confirm their own probate policy.
Some institutions will require sight of a Grant of Probate before releasing any amount of funds which means you will still have to go through probate even for very small estates.
Others will release much larger amount of funds, usually up to £15,000, before seeing a Grant of Probate and therefore probate may not be required.
This can be the case for either cash holdings in banks and building societies as well as any stock or share holdings that the deceased may have.
Property Ownership
If the deceased’s was named as the sole owner of a house or property then a Grant of Probate will be required to either sell the property or transfer ownership to the nominated beneficiary.
However if all property was held in joint names with a surviving spouse or partner then the property will pass to them by survivorship and probate should not be necessary.
Business Ownership
Any estate which includes part or full ownership of a business will almost always require probate. This authority will allow the executors to either sell or transfer ownership of the business as stipulated in the will.
Property Ownership
If the deceased’s was named as the sole owner of a house or property then a Grant of Probate will be required to either sell the property or transfer ownership to the nominated beneficiary.
However if all property was held in joint names with a surviving spouse or partner then the property will pass to them by survivorship and probate should not be necessary.
Business Ownership
Any estate which includes part or full ownership of a business will almost always require probate. This authority will allow the executors to either sell or transfer ownership of the business as stipulated in the will.