Whether you have a Will or not, upon death your Executors or Representative may need to apply to the Government for permission to share out your estate. The Government department which deals with this is known as the Probate Registry.
If there is a Will, your Executors apply for a Grant of Probate and if there is no Will, your Representative applies for a Grant of Representation.
Either way, this will generally be necessary if the deceased:
- Owned land or property in their sole name or jointly as a tenant-in-common with others; and/or
- Held greater than approximately £25,000* in any bank or building society account in their sole name; and/or
- Held greater than approximately £10,000* in any one shareholding; and/or
- Held a significant amount within another form of saving or investment vehicle (e.g. Premium Bonds, ISAs, etc.) in their sole name.
*Figures vary between different banks, building societies, shareholdings and Investment Companies.
Some Executors/Representatives are sufficiently confident to apply for a Grant directly to the Probate Registry. However, people often naturally gravitate towards either a solicitor or a legal services company (e.g. Co-op Legal Services). They believe these are the only option available and very often unnecessarily pay thousands of pounds in fees as a result.
A Probate Guidance Service, such as the one provided by TRF
achieves the exact same outcome for a fraction of the price. As a result, there is more money left within the deceased’s estate to distribute to their beneficiaries.