How to find out if we need to apply for Probate?

lisastevo

My grandmother has passed away and I want to help my Dad out with everything. He has no siblings and I want to do as much as I can to lighten the load.

Everything seems really simple with regards to her estate. We went and cleared her flat today and found her Will and documentation for her funeral plan that she has paid for with a nominated funeral directors. Very simple Will, my Dad is the executor and the only beneficiary. He was named power of attorney for her finances. She has £24,000 in the bank, an NS&I account with £3000, we think she has a small private pension and has been paying into life insurance plan. On clearing out the property we have found some jewellery that may be of value and some antiques that were down handed to her from her mother when she passed which I’m guessing we need to get valued. She was in rented housing association accommodation and doesn’t own property or anything else.

I just want to get a head start on whether we need to apply for Probate or not? This is the first death in our close family and we are all pretty clueless on what needs to happen.

Many thanks 

JGB1955

I suspect that both the bank and NS&I will pay out without the need to apply for probate (NS&I have a £5K threshold).  Unless a financial institution insist on it, there seems no need to apply for probate.  If you DO... it's really not complicated and costs just over £200.... which comes from the 'estate'.

Unless you think the whole estate is worth more than £325K I wouldn't worry about it.

Pennylane

all financial institutions vary.  Barclays limit is £50,000, some are a lot less than that. So you do need to check.

getmore4less

The administration process is the same anyway with or without a grant.

Primary objective is an inventory and account of the estate

While collating the inventory you find out if anyone wants to see a grant.
If you can't persuade them they don't then you do the application.

Mands

lisastevo said:

She has £24,000 in the bank, an NS&I account with £3000, we think she has a small private pension and has been paying into life insurance plan. On clearing out the property we have found some jewellery that may be of value and some antiques that were down handed to her from her mother when she passed which I’m guessing we need to get valued. She was in rented housing association accommodation and doesn’t own property or anything else.

I'm sorry for your loss, and well done for stepping in to help your dad.
NS&I should pay out without probate so the question is will the bank who holds the £24k?  If you share the name here someone might have recent experience.  Or, call their bereavement department and ask.  If they will pay without it then you can probably avoid the work.
Best of luck,
Mands

Pennylane

This is interesting and shows what level most banks/building societies set.

https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2018/bank-limits-for-probate/