Probate Solicitors

What to do when you are named as an executor of a Will

If you’re named as an executor of someone’s Will, you may need a legal document called a Grant of Probate. This gives you the right to sort out your loved one’s affairs.

A Grant of Probate is often required when dealing with banks and other financial institutions, such as local authorities, tax and pensions, insurance, and estate agents, if you are selling a property. In most cases, the relevant institution will need to see the Grant of Probate before transferring control of the assets.

Probate can be a lengthy process, depending on the size, value and complexity of your loved one’s estate. However, it is much easier if that person made a Will before their death.

If there isn’t a Will, sorting out someone’s affairs can become much more complicated, time consuming and costly.

Often, Probate can feel like a complex and overwhelming process. Our solicitors can relieve that stress and simplify the process. We understand that your situation is unique, which is why we take the time to understand your needs and advise on the most appropriate solutions for you and your family.

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The Probate Process

Identification

The first step in the Probate process is identifying everything the deceased owned (from property to possessions) and everything they owed (from loans to bills). This must be identified to determine the value of their Estate.

The second step is to identify everyone who is entitled to a share of the Estate, whether they have been named in the Will, or if they died without making a Will, in accordance with the intestacy of laws. Once you have identified each person, it is important you also gain access to each of their identification documents.

Apply for Grant of Probate or Letters of Administration

Once identification is done, you will need to make an application to the Probate Registry for the Grant of Representation document. This confirms your legal authority to administer the Estate.

Payment of Tax

If necessary, you will need to pay inheritance tax to HM Revenue & Customs (HMRC) and an inheritance tax return will be submitted whether tax is actually due or not.

Receive Grant of Probate or Letters of Administration

Once you receive the Grant of Representation document, you have authority to collect your loved one’s assets. For example, bank accounts can be closed, shares can be transferred or sold and property can be sold.

Settlement

Your loved one’s assets may now be sold (liquidated), and their debts settled.

Other payments may also need to be settled. This could include estate administration expenses, accounting to HMRC, or any further taxes, such as capital gains tax.

Accounting

Once the settlement process is complete, Estate accounts will be prepared to show all payments into and out of the Estate. The balance you are left with can then be used for distribution to the beneficiaries.

Distribution

If there are no challenges, disputes or any other complications preventing distribution, the final step is to transfer any assets and/or funds to the beneficiaries if they wish to retain them.

At Morrish Solicitors, we understand what a challenging process Probate can be. Not only is it very time consuming and complicated, but it also happens at a very difficult time in each of our lives.

Our friendly and sympathetic solicitors can ease that stress. We can take care of the process for you, giving you the time and space you need to come to terms with your loss and handle any other affairs.

Probate Frequently Asked Questions

Who can apply for Probate?

If you are named as an Executor in someone’s Will, you can apply for probate.

If there isn’t a Will and you are the next of kin, the order of priority for applying for Letters of Administration is as follows:

Spouse

Children (including children adopted by the deceased but excluding step children)
Parents
Siblings
Grandparents
Uncles or aunts

If the deceased’s children, siblings and uncles or aunts have all died before their death, the children of their siblings or other relatives may apply for probate.

It’s worth noting that if you are named in the will as the Executor, or you are next of kin but you don’t want to act, you don’t have to.

Do we need to go through Probate?

Depending on their value, assets which are held in a person’s sole name (property, bank accounts, shares and other investments) will often require a Grant of Probate or a Grant of Letters of Administration before they can be cashed in or sold.

Some assets are owned jointly, such as a joint bank accounts or a jointly owned house. Grants are not usually needed for these assets to pass to the surviving joint owner. However, the value of the share may have to be declared for Inheritance Tax.

How long does Probate take?

The Probate process involves the Personal Representatives getting values of assets, taking from this any debt amounts, and then applying for a grant to the Probate Registry.

The time involved largely depends on what is in the estate. The more wide-ranging types of assets there are in an estate, the longer it could take.

If inheritance tax has to be paid, the values of the assets in an estate may have to be agreed by HMRC and this could take time.

Will I have to pay any tax?

There are three taxes which could apply when administering an estate:

Inheritance Tax: You may have to pay this on the value of the net estate.

Capital Gains Tax: You may have to pay tax on the gain in value of certain assets (e.g a house or shareholding investments) between the date of death and the date of sale.
Income Tax: This could be payable on any “income” into the estate since the date of death (e.g. bank interest since the date of death).

What should we do about any debts?

If the estate is solvent (there are more assets than debts) then the debts should be paid off after the Personal Representatives have collected in all the assets once they have obtained the Grant. Sometimes gifts in a Will are left subject to a charge or secured debt. Sometimes a Will sets aside a fund for the payment of debts. A properly drafted Will should provide the Personal Representatives with all they need to know about how debts should be paid from the estate.

Why Morrish Solicitors?

Our friendly wills and estates lawyers have years of experience dealing in wills, probate, care home fees and other related services. Whatever your age and circumstances, we can help you review your plans for later life.

Our Senior Partner and Head of Wills and Estates, Tom Morrish, is an accredited member of Solicitors For The Elderly, a national association of independent lawyers who specialise in legal services for older and vulnerable people, so you can be sure you are in the best of hands.

We’re always on your side

We understand that your circumstances are unique, and that’s why we’re careful to listen to your situation and provide the best possible solution to support your family’s wellbeing.

Personal service

As a Yorkshire-based firm, you can benefit from our competitive rates. We believe in representing people, not large organisations, which is why we aim to provide expert advice, personable service, and excellent value for money.

Expert advice, no matter where you live

All our services can be provided at your convenience either in-person, over the phone or by email or post. So, it doesn’t matter where you live, we’ll always be here to support you.

Want more information? Speak to our Wills and Estates team today.

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Why our clients choose Morrish Solicitors

Lovely staff and lovely location. Definitely worth a recommend to anyone local for various things from wills to power of attorney and everything else in between xxx

Tracy July, February 2022

Excellent service from Tom Morrish

Wills and Estates Client, July 2021

Prompt response to queries. Being able to speak to somebody without having to wait. Getting good information. Prompt and efficient service.

Wills and Estates Client, July 2021

Tom Morrish

Senior Partner & Head of Wills & Estates

Emma Garfitt

Partner, Wills & Estates

How our Probate Solicitors can help you

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What is Probate?