What is probate

Probate is a legal process that gives you the right to sort out the estate of a person who has died. This can include money, property and things they owned. But it can also cover the debts and tax they owed.

There are two ways to apply for this legal right:

• If there’s a valid will, the named executor should apply for a grant of probate.
• If there isn't a valid will, the next of kin should apply for a grant of letters of administration.

The grant gives you the right to deal with banks, sell property and hand out assets. Once it arrives, you can begin to sort out the estate.

When is probate needed?

Probate is usually needed when either:

• The person who died held property or big assets just in their name.
• Any part of their estate is disputed.

The qualifying terms and values can vary between banks and financial firms. But if they ask for a probate grant, this indicates probate is needed.

When is probate not needed?

You may not need to go through the probate process if:

• The person who died only had savings assets.
• They co-owned shares, money, land or property – as these could pass to the surviving co-owners without probate. But you will need to complete certain paperwork. For example, if a property was co-owned, you need to update the Land Registry with a deceased joint proprietor form.

Probate can be a complex process, so it can be helpful to get expert advice.

What does the personal representative do?

It’s up to the personal representative to sort out the estate. They are known as the:

• Executor - if they were named in the will.
• Administrator - if they’re the next of kin.

Depending on the size and nature of the estate, the executor or administrator may need to:

1. Apply for probate.
2. Locate the deceased person’s financial records – and uncover all their property, money, belongings and debts.
3. Calculate the value of the estate and whether Inheritance Tax needs to be paid.
4. Send a copy of the death certificate to all asset holders, and ask for all bank accounts to be frozen.
5. Open a new bank account that deals with finances relating to the estate.
6. Retrieve funds from banks, building societies, pensions and insurance companies.
7. Distribute the estate and pay any debts, legal expenses and probate fees.

For more support, our partners Co-op Legal Services have put together a helpful page for executors and administrators. It features a range of tools and guides.

What does probate cost?

Even if you don’t pay for the help of a probate specialist, probate can cost money. Here are some of the costs you should bear in mind:

Application fee

When you apply for probate, the fee in England and Wales is £300. You might not need to pay if:

• The total value of the estate is less than £5,000.
• You're on a low income or claim benefits

Need to apply again for the same estate? This costs £20 even if the value of the estate is £5,000 or less.