When someone passes away, their property, money, and possessions need to be managed and legally transferred to the rightful beneficiaries. This legal process is known as probate. It can often feel complex or overwhelming, especially during an emotionally difficult time. Whether you’re an executor, a family member, or simply planning ahead, understanding probate can help you navigate the journey with more clarity. If you’re handling a property as part of an estate, guidance from local experts such as Whitegates Prescot estate agents can also be helpful during the process.
What Is Probate?
Probate is the legal procedure that confirms a deceased person’s will is valid and authorises the chosen executor to deal with their estate. If the person didn’t leave a will, the process is still required but works slightly differently, and an administrator is appointed instead of an executor.
The probate process ensures everything is handled fairly, legally, and transparently. It prevents disputes, ensures debts are settled, and makes sure assets reach the people who are entitled to them.
An estate may include:
- Property
- Savings and bank accounts
- Investments
- Personal belongings
- Vehicles
- Life insurance payouts (if not written in trust)
The value of the estate and its complexity can affect how long probate takes and what steps are required.
When Is Probate Needed?
Probate is generally required if the deceased owned property, had substantial savings, or held assets solely in their name. Probate may not be needed if:
- All assets were jointly owned (as they pass automatically to the surviving owner)
- The estate is small, and banks agree to release funds without a grant
- There is no property involved
Banks and financial institutions each have their own thresholds, so sometimes probate is needed even for smaller estates. When property is involved, probate is almost always required.
Who Handles Probate?
If there is a will, the executor named in it is responsible for managing probate. This can be one person or multiple people. If there is no will, close relatives can apply to become administrators.
Executors or administrators are responsible for:
- Collecting information about the estate
- Applying for the Grant of Probate or Letters of Administration
- Paying debts and taxes
- Distributing the estate correctly
Many people choose to handle probate themselves, while others prefer the support of solicitors or probate specialists.
How Does the Probate Process Work?
The probate process follows several clear stages, although timelines can vary depending on the estate’s complexity.
1. Gathering Information About the Estate
The executor must first get an accurate picture of the deceased’s finances. This includes:
- Contacting banks, pension providers, and insurers
- Getting property valued
- Listing all assets and liabilities
- Checking for outstanding debts
A proper valuation is crucial, especially for Inheritance Tax (IHT) purposes.
2. Checking Whether Inheritance Tax Is Due
Before the probate application can be submitted, executors must determine if Inheritance Tax applies. In the UK:
- The standard tax-free threshold is £325,000.
- Anything above this may be taxed at 40%, unless exemptions apply.
If tax is due, part of it may need to be paid before probate is granted. HMRC allows some payments to be made in instalments, particularly for property.
3. Applying for Probate
Once valuations and tax forms are completed, the executor can apply online or by post. They will need:
- The original will
- The death certificate
- Estate valuations
- Relevant IHT documents
If HMRC approves the tax assessment, the Probate Registry reviews the application. Once approved, they issue the Grant of Probate.
4. Managing the Estate
After receiving the grant, the executor gains the legal authority to:
- Close bank accounts
- Sell or transfer property
- Access investments
- Pay outstanding debts, bills, or taxes
Any assets must be collected, estate accounts organised, and financial responsibilities completed before distribution.
Property is often the largest asset, and selling it may take time depending on the market and condition of the home. Executors can choose to sell, transfer, or retain the property depending on the wishes stated in the will.
5. Distributing the Estate to Beneficiaries
Once debts and expenses have been settled, the final step is distributing the remaining assets to beneficiaries listed in the will. Executors must ensure everything is accounted for and that distributions are fair and lawful.
A final estate account is usually prepared, showing:
- All income and assets
- All payments and expenses
- How the final inheritance is calculated
Beneficiaries may be asked to approve the final statement before funds are released.
How Long Does Probate Take?
On average, probate takes between six and twelve months:
- Simple estates with no property may be dealt with faster.
- Complex estates, disputes, property sales, or tax issues can extend the timeline.
Selling a probate property often contributes significantly to the overall duration.
Common Challenges During Probate
Some of the issues that can delay or complicate probate include:
- Disagreements between family members
- Difficulty locating financial documents
- Property sales taking longer than expected
- Errors in valuations or tax forms
- Missing or invalid wills
Being organised, patient, and transparent can help minimise delays.
Final Thoughts
Probate may seem daunting at first, but understanding the steps involved can make the process more manageable. Executors play an important role in ensuring the deceased’s wishes are honoured and their estate is handled properly. Whether you choose to handle the process yourself or seek professional support, taking things step by step helps make the journey smoother.
If the estate includes property, having clear valuations and reliable local guidance can make a significant difference. Reaching out to experienced professionals can help ensure everything is completed correctly and with confidence.