Do you need to apply for probate for tenants in common
edited 30 November -1 at 1:00AM in Deaths, Funerals & Probate
9 replies 3.1K views
Elderly couple own property as tenants in common. Other assets are in joint and sole accounts. Assuming they do not keep more than allowed by individual bank e.g Nationwide is £30,000, Barclays £50,000 and if they keep to that amount in their sole account, am I right to think probate is not necessary. Premiums bonds is 5k. Land registry does not need probate to update registry, the surviving spouse can do that. Have I missed anything? As probate fees are going up and funerals are not cheap I need to consider putting my financial affairs in order. Thanks
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