What is a Grant of Probate and do I need one?
What is a Grant of Probate?
When someone dies leaving a Will, the Grant of Probate is a legal document that their personal representatives usually needs to obtain in order to carry out their role. It is the legal document that confirms to third parties, such as banks and HM land Registry, that the executor has the authority to deal with the assets in the estate. (If someone dies without a Will their personal representatives will apply for Letters of Administration – this is the equivalent document to a Grant of Probate).
In order to obtain the Grant of Probate, the executor will need to submit the original Will to the Probate Registry along with other key information about the deceased’s estate. If the deceased’s estate is complex or Inheritance Tax is due, the executors may also need to submit an Inheritance Tax return to HMRC. If tax is due, this will often need to be paid before the grant of probate can be issued.
Do I need a Grant of Probate?
Whilst there are some scenarios where a Grant of Probate is not required, these are quite rare in practice. If, for example, an estate contained just a very small bank account, a bank may not need the grant of Probate to close the account.
Nevertheless, it can still often be worthwhile obtaining as sometime a need for the Grant of Probate doesn’t come to light until some time after a death. If a Grant of Probate hasn’t been obtained, this can make dealing with that issue more complex.
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