Probate for very simple will

Grumpysally

My father has just passed away. My brother and I are executors for his will, but I'll mainly be dealing with it.
There is no property involved. My mum is the sole beneficiary. I've had POA for dad for the past few years so have an idea of how much money his has in savings,and it will require probate. He had no debts.
 
Am I being realistic in thinking it will be manageable for me to do the probate myself?
Mum is in no rush for the money as she has her state pension, a small private pension and I assume she will get an increase in her state pension and part of my dads private pension. She has very few outgoings. Rent, council tax, utilities and food. So there is no pressure on getting it done quickly so I can take my time and be thorough.

What are people's experience? 

According to the article here on MSE, a lot of people who have done it themselves wish they'd paid someone to do it and a lot of people who have paid, wish they'd done it themselves.

I know my dad would have approved of not spending money

NotsureIamdoingitright

My sibling & I have just done our parent's Probate. It was an uncomplicated estate and went through in 4 weeks and that was with a couple of emails from Probate to the lead Executor, so a few days extra  whilst queries were answered.

The form online was very straightforward.

maman

Like you, I've been an executor for two straightforward wills and found probate very easy. The best I can compare it to was a simple balance sheet. 

Grumpysally

Thank you both. Unless dad has some surprises tucked away, I think I will do it. It's something to keep my mind occupied.

kipsterno1

Sorry for your loss. Are you sure you need to apply for probate? With no property to deal with unless there are large sums of money in accounts that are not joint, shares or NS&I accounts you may not have to apply.

david29dpo

As above. Lots of people think they need probate when they dont.

Grumpysally

I'm going to check with his bank today.  Is it the combined amount of money or the amount held in individual banks, share accounts that dictate the need for probate? I've read the article on MSE but my brains so foggy at the moment that I'm not retaining any information.
According to the list of banks the Co-op bank needs probate. 
I need to chase up his shares too, but I don't think they'll amount to much. 
I checked his premium bonds and there was no huge unclaimed prize waiting 😆

jem16

Grumpysally said:

I'm going to check with his bank today.  Is it the combined amount of money or the amount held in individual banks, share accounts that dictate the need for probate? I've read the article on MSE but my brains so foggy at the moment that I'm not retaining any information.
According to the list of banks the Co-op bank needs probate. 
I need to chase up his shares too, but I don't think they'll amount to much. 
I checked his premium bonds and there was no huge unclaimed prize waiting 😆

It’s the amount held in each individual bank although remember that some banks are grouped together. In most cases the probate limit is £50k so anything below that won’t need it. NS&I being the exception to this though. 

Shares can be different as they often require probate or using their small claims type service to avoid it. 

poppystar

Grumpysally said:

I'm going to check with his bank today.  Is it the combined amount of money or the amount held in individual banks, share accounts that dictate the need for probate? I've read the article on MSE but my brains so foggy at the moment that I'm not retaining any information.
According to the list of banks the Co-op bank needs probate. 
I need to chase up his shares too, but I don't think they'll amount to much. 
I checked his premium bonds and there was no huge unclaimed prize waiting 😆

Remember to speak to their dedicated bereavement team (the contact info will be on their website) not to someone at a branch or on the general telephone line. 

Premium bonds can be kept in for up to 12 months too - so you can hold on that one and hope! 

Also there is no rush so take it easy too. IHT has to be paid within six months but if that does not apply then you can delay getting probate, if needed, while you piece things together at your own pace. 

RAS

Speak to the bereavement teams. The limits vary between banks.

There's nothing to stop you asking some banks to release the money if it's below their limit, direct to mum's account or to one you've designated as an executor's account (one in your name you use for nothing else as few offer proper executor's accounts). And then doing probate for the other accounts.

You can make an initial "distribution" to mum if she needs anything. 

Do retain a bit as the DWP can take the best part of a year to decide if anything has been overpaid.

Keep_pedalling

Co-op Bank probate limit is £50k.