Sometimes it is not necessary to obtain a Grant of Probate from the Court. Consider the areas below and decide if you still need to apply for a Grant.
Grants are not usually needed in the following circumstances set out below.
Estates Less Than £5,000
If the total net value of the estate is less than £5,000 then the estate is regarded as a “small estate” and can often be administered and distributed without the need to apply for a Grant of Probate (Will) or a Grant of Letters of Administration (no Will) from the Probate Courts.
Jointly Held Assets
Jointly held assets, such as joint bank or building society accounts or even jointly held property, will normally automatically pass to the surviving joint owner on death so these assets will be excluded from the deceased’s estate and a Grant from the Probate Court will not be necessary.
Organisations Own Policies And Procedures
Organisations such as banks and building societies, National Savings and insurance companies often have their own procedures in place when dealing with small estates. Small sums of money of up to £30,000 can often be paid and distributed from various institutions without the need to produce a Grant. However, different organisations have their own rules and sometimes they may insist on a Grant being obtained from the Probate Court.
Cash Jewellery And Personal Belongings
Cash, jewellery and personal effects of little or insignificant value can also be distributed without the need for a Grant, so long as all the beneficiaries agree.
Assets Written In Trust
Sometimes assets are “Nominated” or “Written in Trust” to a named beneficiary in which case the asset might be excluded from the estate and payable direct to the named beneficiary. The beneficiary can usually claim the asset or money directly from the organisation without the need to produce a Grant from the Probate Courts.
Please remember that at any time, you can simply delegate the task of sorting things out to a firm of Solicitors, such as ourselves, who will deal with as much as you want them to on your behalf and therefore relieve you of any of the stress, hassle and worry of dealing with the administration of a loved one’s estate.
Probate & Estate Specialists
I’m Adrian Chambers and specialise in Probate and Estate matters. We aim to provide our clients with an outstanding legal service.
We will help and support you and most importantly we work hard for you.
If you need help administering a loved one’s estate, please click here for further information.
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