Online Probate

mr_harris

Hi

I have been looking through the probate guide on this site and just have a question

Where the estimated value of the estate is BELOW the IHT threshold (currently £325,000)

Here it'll be classed as an 'excepted estate' and you don't need to report this separately to HM Revenue & Customs (HMRC) – though you'll still need to report it as part of your probate application.

I am right in saying the estates amount would be entered by us when we go through the online probate service via the gov website when getting the grant of probate I take it. kind regards

poppystar

Yes.
, you will be asked for the value of the estate.

Do you definitely need probate? 

mr_harris

Yes as the amount is over 

poppystar

Over what? You will need if it banks or NS&I ask for it or if there is a property to sell. Otherwise you may not. Just checking in case it helps.

mr_harris

over £40,000

poppystar

Ah, that’s a shame if you have an institution insisting on it. 

mr_harris

Once you know who the executor is – the person authorised to deal with the deceased's property, money and possessions – they need to apply for a document known as a 'grant'.

Thanks Poppy , the above states from this site you need a apply for a document , sorry to sound daft but the online grant of probate service will take care of this I take it kind regards

RAS

Did the deceased leave a will?

poppystar

mr_harris said:

Once you know who the executor is – the person authorised to deal with the deceased's property, money and possessions – they need to apply for a document known as a 'grant'.

Thanks Poppy , the above states from this site you need a apply for a document , sorry to sound daft but the online grant of probate service will take care of this I take it kind regards

Yes, you will eventually get a Grant of Probate you can show to anyone who needs it. So you apply, wait, then get the Grant which you can use to release funds from institutions wanting it and to use when selling any property. It basically says you are the authorised person to deal with the estate of the deceased. 

If there was a Will then it’s called Grant of Probate, if no Will then it’s called Letters of Administration. Both do the same thing in giving the person who gets it the power to handle the estate but there are different forms to apply for each.

I only asked about amount earlier because sometimes there is no need to apply for probate as institutions will often pay out without it. I’ve certainly had large sums released from high street banks without the need to show probate. Also it’s unlikely to be needed for joint accounts which go to the other account holder. Always speak to the bereavement department when dealing with banks and other organisations - often people in branches or on the general telephone number have little idea about dealing with issues relating to deceased clients.

I’m assuming either that there is a Will and you are executor or that there is no Will and you have priority to apply for Letters of Administration. 

Hope that makes it a bit clearer. 

mr_harris

Thanks again Poppy yes there is a will and I am the executor