Avoiding Probate

Savvy_Sue

I agree with RAS, the estate definitely has to be under £5000 not to need probate, but if the bank is willing to release funds that will obviously help in the short term.

btw the probate service website is pretty comprehensive, you can download forms and guides and all sorts, also find your local probate office. It really would be worth calling them, and also finding out whether you'd have to attend in person to get the grant issued. I skimmed over that part of the forms / guidance because it wasn't relevant to us!

maryroberts

Thank you for further replies. So if the bank transfers the balances to my account with no problems, what happens if I don't apply for probate? I don't want to do anything wrong, but who would know? I'm quite prepared to phone the Probate Office for advice as suggested, but am wondering whether I really need to bother.

RAS

You would be breaking the law if you did not apply for probate and the money would not legally be yours.

julie03

if someone did break probate law, who do you report it to?

Savvy_Sue

The local probate office, numbers to be found in my previous link.

mary, you have to bear in mind that your father's estate will include not just his money, but also all his possessions. Even if his will states that it's all going to be yours, by not completing probate it won't legally be yours. If anything is supposed to go to anyone else, it won't legally be theirs. So if there's anything worth selling or even giving away, it's not yours to sell or give away.

The other problem as I see it is that you lay yourself open to a charge of tax evasion. You may be sure that the estate falls within the limits, but how will you prove it?

It really isn't that difficult to do it, on a small non-complicated estate. It's only when there is property (our accountant checked there were no planes, boats or fast cars in Dad's estate!), valuables (stamp or similar collections, antiques), or multiple bank accounts so that you're not even sure you've found them all, or stocks and shares, that you start to run into problems!

nigem

You are allowed to gift £3000 per year out of income, and I think for the previous year if it wasnt given. If that was the case you could get the estate down to £5000.

maryroberts

Thanks again for the new replies. I will phone the Probate Office for advice and also speak to the solicitor when I collect the original Will from their office. Dad's estate is so small with virtually no possessions but I don't want to break the law or upset the tax man.

datostar

maryroberts wrote: »

Thanks again for the new replies. I will phone the Probate Office for advice and also speak to the solicitor when I collect the original Will from their office. Dad's estate is so small with virtually no possessions but I don't want to break the law or upset the tax man.

I'm in a similar position as regards my recently deceased father's affairs. Two banks have proved willing to 'pay away' funds to me without Grant of Probate, but require certification to the effect that I am not applying for probate, which I cannot in honesty sign because I am so applying, due to the total value of the estate. They have 'Small Estate' procedures which obviously can't take account of funds held elsewhere. One bank is adamant about needing probate. NS&I and a Life Insurance Co. have already paid over funds without such a requirement. I've applied for probate and have been given an interview date.
It's far better to work to the letter of the law in these matters, I think. It's not too difficult and you'll be fireproof.