Probate is the process of getting AUTHORITY to follow the directions of a Will and is needed in most cases.

Probate

An Executor usually needs to apply for a Grant of Probate; especially where property or assets worth more than £5,000 are involved. Some banks have a higher ‘floor limit’ so it’s worth checking with them first. Obtaining a ‘Grant of Probate’ involves swearing an oath and this is how you gain legal permission to act as directed by the Will. The first thing to know is that you should not panic or worry about Probate. It is a slow process that usually takes on average 9-12 months.

Estate Administration – this is often referred to as ‘probate’ but is the next stage
Once probate has been granted, the next step is dealing with a person’s legal and tax affairs, however the whole process is often incorrectly referred to as probate.
Acting under the Grant of Probate, the Executors need to perform many important tasks, such as dealing with all of the deceased’s property and possessions, settling any debts and transferring whatever is left to the beneficiaries.
The death of a loved one is an emotional and painful time for everyone, and family conflict is not uncommon. Arguments do arise over who should be given what and whether assets should be sold quickly or held back to realise a higher price.

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