Estate less than £5,000

katy123

This is the scenario, family death and house was held jointly so it was passed automatically to my Grandad. As it was held jointly, it does not need to go through probate. However, the will named a solicitor as the executor but in terms of assets there is just £2k in cash. If we factor in the funeral cost of £3.5k, we estate is negative. I know banks can generally just pass funds under £5k (in total) without the grant of representation but if I'm correct, this is only passed to the solicitor (executor) and not my grandad (beneficiary). I've read that there is generally a minimum probate fee of £2k but the estate has no money. What do we do? Haven't yet approached solicitor yet, thanks.

Keep_pedalling

Under those conditions the solicitor won't get paid so they will quite happily hand it over to you.

How is the house held, joint tennants or tennants in common?

katy123

Joint tenants, but my Grandad (the beneficiary ) wasn't married to her.

If they won't get paid, can they refuse to act?

Keep_pedalling

katy123 wrote: »

Joint tenants, but my Grandad (the beneficiary ) wasn't married to her.

If they won't get paid, can they refuse to act?

As the estate is effectively insolvent (funeral costs have first call on what is left) they will almost certainly step aside. If your GF still wants them to act he would have to pay them, but this is a simple estate that does not require a solicitor to wind up.

katy123

Keep_pedalling wrote: »

As the estate is effectively insolvent (funeral costs have first call on what is left) they will almost certainly step aside. If your GF still wants them to act he would have to pay them, but this is a simple estate that does not require a solicitor to wind up.

Once potential problem. Grandad has already paid in full for the funeral. I'm guessing this is still classed as a debt and will have first call despite the £2k cash hasn't been release?

Yorkshireman99

Yes! The funeral costs take priority.

Keep_pedalling

katy123 wrote: »

Once potential problem. Grandad has already paid in full for the funeral. I'm guessing this is still classed as a debt and will have first call despite the £2k cash hasn't been release?

Not a problem, there is no dept owed to the solicitors. Your GF just needs to inform them that the estate is insolvent and that probate is not required and ask them to give him the will so that he can get the bank to realise the small sum in her account to meet funeral costs.

If his own will is not a recent one he might like to ask them about updating that now his circumstances have changed, especially if his will has the solicitors are appointed as executors. His estate won't be insolvent so better to appoint family as executors.

katy123

OKay, final question if i may. If solicitor agrees to renounce executiveship. Can anyone step in to be executor? My Grandad is 85 who is the beneficiary but it makes more sense that my dad takes on this roll.

Yorkshireman99

Anyone can apply for Letters of Administration with the will annexed. Ask the Probate office for details.

antrobus

katy123 wrote: »

OKay, final question if i may. If solicitor agrees to renounce executiveship. Can anyone step in to be executor? My Grandad is 85 who is the beneficiary but it makes more sense that my dad takes on this roll.

If the bank is prepared to release the £2k on receipt of the death certificate etc, there is no need to do anything.

The whole point of probate is that it is a legal process by which the ownership of assets is transferred from the dead to the living. If there are no assets left, there is no need for probate.

katy123

This is what we've worked out. Bank will not pay out funds, insist on going to solicitor as they are executor (noticed on will). Will be meeting solicitor soon and ask if they will renounce executorship. Do i get a letter from them or something? Will then try to apply for probate under "apply for letters of administration with the will annexed" with my dad as executor (grandad is the beneficiary but too old to deal with this all).