What is a grant of probate?

Introduction

A grant of probate is a legal document issued by the Probate Registry in the United Kingdom. It is required when someone has passed away and left behind assets that need to be distributed among their beneficiaries. The grant of probate is a formal declaration that confirms the validity of the deceased person’s will and gives the executors of the will the authority to distribute the assets according to the terms of the will. In this article, we will explore what a grant of probate is, the information it contains, the process of obtaining one and its importance.

What is a Grant of Probate?

A grant of probate is a legal document that confirms the validity of a will and gives the executors the legal authority to deal with the deceased person’s assets and distribute them according to the terms of the will. It is issued by the Probate Registry, which is a division of the courts system in the United Kingdom.

A grant of probate can be required when someone has passed away and left behind assets that need to be distributed among their beneficiaries. These assets could include property, bank accounts, investments, and other possessions. Without a grant of probate, the executors may not be able to access or deal with these assets.

Information Contained in a Grant of Probate

A grant of probate contains several pieces of important information about the deceased person and their estate. The document typically includes the following:

• The name and address of the deceased person
• The date of death
• The names and addresses of the executors of the will
• A list of the assets and liabilities of the deceased person at the time of their death
• The value of the estate
• The names and addresses of the beneficiaries of the will
• Information about any trusts established by the will
• The grant of probate also includes a certified copy of the will, which is the original document that outlines the deceased person’s final wishes for the distribution of their assets.

Obtaining a Grant of Probate

Obtaining a grant of probate involves a process known as probate application. The process typically starts with the executors of the will submitting an application to the Probate Registry. This application includes the original will, a death certificate, and an inventory of the assets and liabilities of the deceased person. The executors must also pay a fee to the Probate Registry when submitting the application. Once the application is received, the Probate Registry will review the documents and conduct a thorough investigation to ensure that the will is valid and that the executors have the legal authority to distribute the assets. If the Probate Registry is satisfied with the application, it will issue a grant of probate to the executors. The Probate Registry may also request additional information or documentation if needed. The probate process can take several weeks or even months, depending on the complexity of the estate and the number of assets involved.

Using the Grant of Probate

Once a grant of probate is issued, the executors can use it to access the deceased person’s assets and distribute them according to the terms of the will. This may involve selling assets, transferring ownership, or distributing money to beneficiaries. The executors are also responsible for paying any debts or taxes that the deceased person owed at the time of their death. This includes paying off any mortgages, credit card debts, or taxes owed to the government.

Importance of a Grant of Probate

The grant of probate serves as a legal proof that the will is valid, and the executors are authorised to distribute the assets according to the terms of the will. Without a grant of probate, the executors may not be able to access or deal with the assets of the deceased person, which can cause delays and complications in the distribution of the assets. Additionally, a grant of probate also provides protection for the executors. They can use the grant as a legal document to demonstrate that they are acting within their authority when dealing with the assets of the deceased person, and that they are not liable for any debts or taxes that may be owed.

Furthermore, a grant of probate is also an important document for financial institutions and other organisations that may be holding assets of the deceased person. They will not release the assets to the executors without a valid grant of probate. In some cases, a grant of probate may not be necessary, for example, if the estate is small or if all the assets are held jointly with another person. However, in most cases, a grant of probate is needed for the executors to legally manage the assets and distribute them to the beneficiaries as per the will.

Conclusion

In summary, a grant of probate is a legal document issued by the Probate Registry in the United Kingdom that confirms the validity of a will and gives the executors the legal authority to deal with the deceased person’s assets and distribute them according to the terms of the will. It is an important document that ensures that the assets are distributed in accordance with the deceased person’s final wishes and provides protection for the executors. Obtaining a grant of probate involves a process known as probate application, which can take several weeks or months depending on the complexity of the estate.