Chartered Legal Executive, Adele McCabe, outlines the different types of probate that we can assist with – Grant Only and Full Estate Administration, and the differences between them.
When someone passes away close to you, the last thing you want to deal with is the legal paperwork. At Amphlett Lissimore, you can instruct us to act on your behalf so that you do not worry about it all.
What is a Grant of Probate?
A Grant of Probate is a legal document issued by the Probate Registry. This document gives the Executor of a Will the official authority to handle the deceased person’s estate. It is essential for managing assets, settling debts, and distributing the remaining estate following the wishes of the deceased as set out in the Will, or by the Rules of Intestacy if there isn’t a Will.
Do you always need a Grant of Probate?
Sometimes, if the estate is small, then the Personal Representative appointed by the Will, if there is one, or the person entitled to act under the Rules of Intestacy if there isn’t a Will, can deal with the assets without too much work. However, if there is a property involved, assets of over £50,000 or property abroad, then these are circumstances in which a Grant of Probate (where there is a Will) or a Grant of Letters of Administration (where there isn’t a Will) is required.
How can we help you?
There are two ways we can act for you when a Grant of Probate is needed.
Probate: Full Estate Administration
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- For a full administration, we will meet you, preferably in person, but if not, then over video conferencing or on the telephone. We will ask you some questions to establish what assets your loved one had.
- To apply for a Grant, HMRC needs to be informed about the value of all the assets and any liabilities (such as outstanding mortgages or debts) held at the date of death, even if Inheritance Tax isn’t payable. We will write to all the asset holders. We will also notify HMRC, DWP and apply for any exemptions of Council Tax if there are any. We will need to value any property held in the estate, and we will arrange payment of the funeral invoice from the bank account if required.
- Once we receive replies from everyone, we will collate all of the account balances and estate valuations into a Schedule, which we will send to you. These figures will form the basis of your Probate application. If inheritance tax is payable, we will arrange payment at the same time as submitting the Account to HMRC. We claim available inheritance tax exemptions and reliefs on your behalf. Once HMRC confirm they have received the application, we can apply to the Probate Registry for the Grant.
- Once the Grant is received, Amphlett Lissimore will close all investments and accounts before transferring the balance to the beneficiary. This process includes the transfer of any ISA allowance to the surviving spouse. We will handle all the payments of the liabilities of the estate, including inheritance tax. We will then contact beneficiaries to distribute the estate in accordance with the terms of the Will.
- Estate Accounts are issued to the Executor or Personal Representative to approve and sent to all the residuary beneficiaries.
- We offer you protection by suggesting the submission of Section 27 Notices to advertise for creditors. Alongside recommending whether an accountant is required for income tax returns. We also get involved with the instruction of genealogists where there are missing beneficiaries. (These additional instructions sometimes incur additional fees from external companies, but we would inform you if this is considered necessary.)
Probate: Grant Only
- For the Grant Only option, Amphlett Lissimore will complete any inheritance tax forms to be submitted to HMRC based on the instructions you provide to us. We will then make the application for the Grant of Representation (Probate), leaving you free to complete the remainder of the administration.
- For this option, you will need to correspond with the asset holders, the banks, investment companies, etc, by yourself and be in the position to provide the details and the balances to us.
- This is a very limited service. You will need to report to HMRC for any income tax and/or capital gains tax if payable.
What are the main differences between Grant Only and Full Administration?
- With both services, the Will, or if there is no Will, the intestacy rules, must be adhered to.
- With a full administration, we can take the weight off your shoulders and deal with all aspects of the administration for you.
- A Grant only allows you to manage the administration of the estate.
- The cost of each service is different. For full administration, it’s a small percentage of the deceased’s estate. For Grant only, it’s a fixed fee.
How do I decide which Probate service is right for me?
This is completely your choice. And factors to consider are:
- The size of the estate – if the estate is relatively small, then it may be relatively simple to complete yourself
- The number of beneficiaries and whether they are known to you – Tracking down people named in the will can sometimes be difficult, or relationships may be fractious
- Your own time constraints
- Costs – If the estate is a high-value estate, there may be a lot more work to be done to complete it
- Whether you feel able to cope with administering an estate by yourself at present
Learn more about Grant Only and Full Administration Services
Our Private Client team are here to support you through this difficult time. We understand that administering an estate can be a lengthy and emotional process, and we’re here to guide you every step of the way.
If you have any questions or would like to discuss the administration of an estate in more detail, please do not hesitate to contact us. As part of our initial assessment over the phone, we can advise on the best service to suit your individual needs and the cost of each, so that you have all the information to hand before making your decision.
About the Author
Adele McCabe is a chartered Legal Executive in our private client team. Based at our Crystal Palace office, Adele specialises in probate matters, including full estate administration.
