Probate Outline
If a person passes away owning assets in excess of £5,000 or if an institution is likely to pay the estate of a deceased person a sum in excess of £5,000 then a
Grant of Probate or Letters of Administration will need to be applied for. If the decease left a Will then the executors of the will apply for the grant of probate. If they did not the closest next of kin apply for letters of administration.
Some banks will accept a small estates indemnity form instead of a
Grant of Probate if the estate of the deceased person is under £15,000. The greatest confusion with
probate is that the
whole process must be undertaken whether you make a will or not.
The
probate forms are the same whether you are applying for
Grant of Probate or applying for
Letters of Administration.
