Here’s our roundup of five of the most commonly asked questions regarding probate (taken directly from Google):
‘Do I need a solicitor to deal with probate?’
Not always.
Obtaining the grant of probate is, in legal terms, an application for a court order. One of the key tenets of the rule of law is that the law should be accessible to all. For this reason, anyone can apply for a grant of probate, with or without professional assistance.
The government encourages lay executors to do this and provides a route to do so – see Apply for probate.
Probate specialists exist because things can get tricky (think trusts, charities, inheritance tax, foreign assets, missing Wills etc). It certainly does become prudent to use a solicitor if the estate is not straightforward. Even when an estate appears simple, it’s often the things we don’t know that catch us out.
Sometimes it makes sense to instruct a professional simply for the purposes of impartiality (perhaps where the beneficiaries are likely to criticise the executors).
And sometimes, it’s just about giving yourself space to grieve… probate can be time-consuming and burdensome, and taking those things off your plate could be right for you.
‘How much should I pay a solicitor for probate?’
Professional probate fees are notoriously variable, and often open-ended.
At the bottom end of the scale, some firms will offer a ‘grant only’ service – a low fixed fee (perhaps £500 – £1,000) for simply obtaining the grant. This is usually transactional, with the client supplying all of the information.
Otherwise, professional fees typically start at a couple of thousand for a simple estate to tens of thousands for something complicated.
This may sound like a lot of money but it is important to put things in perspective. A typical house sale (perhaps £600,000) may attract estate agent’s fees of £3% – that’s £18,000.
Fixed-fee services are becoming more common, but are still in the minority (especially in law firms). There are now some large providers on the scene, such as Co-op and Farewill who specialise in fixed-fee probate. These tend to operate nationally and so will not be the right choice for everyone.
Take a look at our fees page for more information on Requiem Law’s approach. We offer a fixed fee, full service – no hidden costs (and all matters are handled personally by Richard Whitaker TEP CTA).
‘How much does an estate have to be worth to go to probate?’
Just to recap, the grant of probate is the evidence of the executors’ authority. In legal terms, the authority itself comes from the Will. For most banks and other institutions (Land Registry for example) a copy of the Will is not sufficient and a grant is needed.
There are some laws which put a figure (usually £5,000) on the minimum amount needed for a grant of probate (Premium Bonds for example). However, most banks are not bound by these rules and have their own procedures. You will need to contact each asset holder to find out what their requirements are.
‘Why is probate so complicated?
It needn’t be, but let’s remember – the executors are attempting to piece together and resolve the complete legal affairs and wishes of a loved one. These are affairs that may have developed over decades. There could be multiple assets in multiple jurisdictions, complex wishes, lifetime gifts, lifetime trusts and cross-border tax affairs.
And that’s before one considers the beneficiaries.
Probate is an emotional time and this can cause friction in the family unit. Wherever there is friction there is delay and other complicating factors.
For a reminder of how things can go wrong, take a look at the BBC’s article on Aretha Franklin’s death earlier this year.
‘Why do you have to wait 6 months after probate?’
There is no need to wait six months after the grant of probate. The executors can choose to distribute whenever they feel it is safe to do so.
The contributing factor here is the time limits for making some claims against the estate.
Claims can be either to contest the Will itself (the Will was invalid, or the testator lacked mental capacity) or to claim provision from the estate under the Inheritance (Provision for Family and Dependants) Act 1975 (I(PFD)A 1975).
These second types of claims are becoming more common. Should the deceased have left me more than they did? Was it reasonable to cut me out of the Will?
The legislation allows six months from the grant of probate, although this can be extended at the discretion of the court.
Executors will often wait for this time limit to expire where there is a risk that a claim could be made.
If you need help with probate in Winnersh, Wokingham, Finchampstead, Crowthorne, Reading, Henley or elsewhere in the Thames Valley please get in touch.
This article does not constitute legal advice and should not be relied upon as such. Please always seek legal advice that is specific to your individual circumstances.