What Exactley is Grant of Probate?

When a family member or friend passes away it is a very unsettling and difficult time but there is much work to be done. Handling a will and taking charge of the assets of a loved one is an important task that must be done correctly and legally. This can be a complicated process but patience and a little knowledge will help you surmount this task.

The executor of an estate will require a grant of probate. This is procured from the section of the court known as the probate registry. This legal grant will confirm the executor as having leading authority to deal with the deceased person’s assets, which can include any money, belongings and property. This will be required even if the deceased has left a will. It may also be known as a grant of representation (in England and Wales) or a grant of confirmation (in Scotland).

With a grant of probate you will charged to identify the assets left by the deceased and distribute them to the proper persons. You will also be in charge of what will become of the debts of the deceased.

You will only need a grant of probate depending on the size and value of the estate that will be managed, I.E. over £5000. Normally you would not need such a grant if money is lower than £1000 but if personal possessions such as a car supersede this, it is better to obtain the grant to ensure that the process is done correctly and legally. Payments may be made by various authorities without a grant if the assets equal under £5000, with such assets including National savings, buildings society accounts, nominated property and joint held assets.

A grant of probate can be easily obtained by completing the proper forms for the Probate Registry (England/Wales) or Sheriff Court (Scotland). You an find the necessary documents online and you must visit you local Probate Registry in England or Wales at least once.

Similar Posts:

Probate Valuations Ripley - Derbyshire