“What Is Probate?” Timms Sara Hilliard Explains…..

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In her latest blog, Timms Sara Hilliard asks ‘What is probate?’ and explains some of the terminology often used when administering an estate…..

What is Probate?

A Grant of Probate is a legal document, which gives the executor the authority to administer the estate of the deceased person. You may have to apply for a grant of probate if you are the named executor in someone’s will.

What Is A Letter Of Administration?

If no executor is named in the will or if the executor is unwilling to act, an administrator will need to be appointed. Who can act as the administrator of the estate is defined by a fixed order of priority. The administrator will have to apply for a Grant of Letters of Administration, which authorises them to act as administrator. A Grant of Probate and a Grant of Letters of Administration may also be referred to as a Grant of Representation.

Is A Grant Of Representation Always Needed For Probate?

A Grant of Representation is not always necessary. For example, if all of your assets are held jointly with another (e.g. a spouse or civil partner) all of your assets will pass automatically by survivorship.

Another example is where organisation’s release the funds they are holding without sight of a grant, if the amount held is below a certain threshold. This can vary greatly from institution to institution.

Certain life insurance policies and pension schemes may pay money direct to your nominated person(s) in which case, sight of a Grant will not be necessary as the monies will not pass via your estate. Finally, if an estate is insolvent a Grant is not necessary.

Why Consider Legal Representation As An Executor Or Administrator For Probate?

If you are unfamiliar with the duties of the executor or administrator, we recommend reading our leaflet, “Professional Appointment of Executors”.

Depending on the will, the estate and the beneficiaries, carrying out your duties as an executor or administrator can be complicated and time consuming. While you are allowed to pay yourself any expenses back from the estate, you are not entitled to a reimbursement of your time. However, you can use legal representation to assist you. Our professional fees can be paid from the estate.

How Timms Can Help With Probate?

Our legal experts can assist you with tasks such as:

• Applying for a Grant of Probate or a Grant of Letters of Administration.
• Identifying and collecting in assets of the estate and identifying and paying any outstanding debts of the estate
• Considering and settling the tax position of the estate
• Communicating with the beneficiaries and distributing according to the will.
• If there is no will, distributing the estate according to the rules of intestacy.

If you need help and assistance regarding Probate or any other Wills and Probate enquires. Please don’t hesitate to contact me on 01332 364436 or email me at s.hilliard@timms-law.com. Alternatively, you can visit the Wills and Probate section of our website here.

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