Probate which guide

Once all the assets are distributed and debts paid, the estate can be wound up. If the Will created any trusts, the executors will often also be the trustees and so will have an ongoing duty to manage those trusts. As a general rule it will usually take between 9 and 12 months to obtain probate. Most of this time will be spent gathering details of the deceased's assets and liabilities and preparing the inheritance tax returns.

Once probate is granted, beneficiaries will usually receive their inheritance relatively soon afterwards. However, where there is a potential disputes with creditors or beneficiaries, this could slow things down. The only way to find out how much probate will cost you is to get some quotes from solicitors. That's where our service can help. We'll get you a range of quotes for your exact job from local solicitors in minutes when you post a free job. Post a free job on our service and compare quotes from local solicitors in minutes.

Solicitors fees will vary from estate to estate and firm to firm though. So what someone else pays may be completely different to what probate will cost you.

There may be further fees which need to be paid as part of the administration of the estate. These will vary from estate to estate, but might include things such as: valuation fees, brokerage fees or insurance.

Toggle navigation. Find out everything you need to know about probate with our simple guide. So what is probate, do you need it and how do you go about getting it? Do you always need probate? Take the quiz Who applies for probate? Overview of the probate process Free probate checklist Inheritance tax Applying for probate How long does probate take? How much does probate cost? What is probate? You've probably heard of probate, but do you know what probate actually is?

What does probate mean? The dictionary defines probate as 'the official proving of a will'. Pretty unhelpful right? Here's a more helpful definition: Probate noun the process of dealing with someone's estate after they die. You may not need probate if the deceased only died with: Property held as joint tenants Joint bank accounts Bank accounts, pensions or share portfolios with small sums where the institution doesn't require a formal Grant.

Get help with probate MyLegalAdviser has thousands of vetted and rated lawyers ready and waiting to help. Register the death - the death should be registered within 5 days at the local register office.

Before you can start probate you will need to register the death. This will need to be done within five days if you live in England, Wales or Northern Ireland, or within eight days in Scotland.

Usually a relative will need to register the death, but others are permitted to in certain situations. The next step is to find out whether there is a Will, as this will state who the executor is and how the estate should be divided up. It may also include funeral plans. To find out more about this, read our guide to writing a Will. The Death Notification Service will help you notify a number of banks and building societies at the same time.

It will also help you to pay costs such as the probate application fee. To value the estate, you will need to work out how much the deceased had in bank accounts and savings, pensions, investments, and other assets, including the contents of the home and any life insurance payments. You can complete these online. If there is IHT to pay, this must be settled before probate can be granted. The bill will need to be paid within six months from the end of the month in which the death took place.

Most banks allow this providing you send in an IHT form. You can do this online or by post. Take a look at the gov. Advertising in this way will ensure the executor is not liable if someone comes forward at a later date who the executor did not know about. If there is a guarantor for any of these debts, they will be liable if it is not paid by the estate. If there are not enough assets to repay the debt, it will be written off. Debts in joint names, such as a joint current account with an overdraft or a mortgage, will usually pass to the surviving partner.

In the worst case, the property associated with the mortgage may need to be sold. Once you have grant of probate, you can use the funds in the estate to clear any individual debts not covered by insurance.

You should pay them in the order of secured debts such as mortgage payments , priority debts such as council tax , unsecured debts such as credit cards. If and when all debts and taxes have been paid, the final step is to share out the remaining estate.

Providing there is a Will, this should be relatively straightforward. If there is no Will, the remaining estate will be shared out according to the rules of intestacy. This means that your overall bill may be higher than originally expected. Many probate specialists will also expect payment at certain stages, so check exactly when payments will be due and how much they will be each time before you agree to anything.

DIY probate: how to administer an estate. Understand the key steps you'll need to take if you decide to carry out the probate process yourself. Probate solicitors. Find out about probate solicitors' fees and what a professional will do if you pay for them to carry out the probate process. Intestacy rules. Understand the steps you'll need to take when someone has died without a will, or 'intestate'.

Related guides in Which? In Tax. Inheritance tax rates and allowances.