Probate explained
The legal document known as the ‘Grant of Representation’ acts as a security measure to ensure the Estate assets are only released to the correct persons:
- Grant of Probate is the name given to the Grant of Representation where there is a Will
- Letters of Administration is the name given to the Grant of Representation where there is no Will
- The Grant application includes two forms, the Probate Application and a HMRC Inheritance tax form. There are three types of HMRC forms, and which one is used is dependent upon the legal and financial complexities of the estate
When a Grant of Probate is required
There are a variety of circumstances where a Grant of Probate may be required. The most common triggers are if there is a property to be sold or transferred, or if there are savings or investments above a certain financial value. The Probate thresholds vary between financial institutions and can be as low as £5,000 or as high as £50,000.
Timescales
Making a personal application for obtaining a Grant of Probate or Letters of Administration takes an average of eight to twelve weeks. There are a number of reasons for this including an average appointment time for your interview with the Probate Registry of up to six weeks. Other than that, Probate Registry and HMRC forms need to be completed and if these are being completed for the first time it can be a very time consuming task.
If you would like to obtain the Grant of Probate or Letters of Administration considerably faster than this, The London Probate Company can help. This can be useful where you may want to gain access to assets quickly, such as selling a property or accessing monies.
The London Probate Company can obtain the Grant of Probate or Letters of Administration in just five to seven weeks. There are several reasons why we can do this so quickly:
- We specialise in Probate and related services and nothing else
- We use the latest technology to speed up the application process
- We work with Probate Registries who have the fastest turn-around times for applications
Using a professional, will ensure the application is made accurately and quickly. The London Probate Company will:
- Provide you with a dedicated probate professional
- Ensure the Will is valid or apply the Rules of Intestacy if there is no Will
- Complete the Probate application forms
- Prepare the legal Oath required to be sworn by the Executors and Administrators
- Complete the Inheritance Tax forms for HMRC (whether tax is due or not)
- Calculate any Inheritance Tax liability
- Apply for the Grant of Probate
- Provide you with a copy of the Land Registry Title Deeds* (if there is a property in the estate)
- Provide you with a free secure postage document collection service
- Stop unwanted junk mail to the home of the deceased