It is a common misconception to believe that if you have a Will, you will not need Probate. This is a something we hear a lot, often from family when they first call us to let us know someone has died.  In most cases this is not correct.

Usually, if the person who has died has an estate where the value is over £5,000 (after funeral costs are paid) a Grant of Probate is needed, even where there is a Will.  Many banks now have their own limits, and these can vary depending not only upon the bank policies but also the type of account held, making things more complicated.

Even if the banks do not need to see a Grant of Probate there may be other reasons why a Grant of Probate is needed.  If there is a house to sell, the Executors do not have the authority to sell the property without the Grant of Probate; if there are shares to sell the share dealing company will usually, in my experience, want to see it, or even if it is only to protect the Executors and make sure that the estate is being properly dealt with by the people entitled to do so.

We often see families where both parents have passed away but the family home is not sold for many years.  This could be because the family are renting the property out until the property market improves or because they cannot face selling the family home where they grew up and have all of their memories. 

When they eventually come to sell the house they produce the Will of the parent who died second and assume that this will be sufficient to prove that the proceeds from the sale is to be divided between them. However, this does not give them the authority to sell the house.  It is the Grant of Probate that gives the Executors named in the Will the authority to sell the house and this needs to be obtained before exchange of Contracts - so the sooner the better. 

So, what do I do?

If you are appointed as an Executor in a Will, it can often be useful to have a chat with a professional to establish what your duties and responsibilities are, many firms will offer a free half hour appointment during which you can decide whether you want to administer the estate yourself, have help with the administration or hand it over to the professionals completely.

If you would like to talk to one of our specialist advisers, please call us free on 0800 387 927 (free to call from mobiles), request a callback at your convenience or message us your enquiry.