IWC are regulated by the Society of Will Writers and Estate Planning Practitioners

 

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 will most likely need to be applied for on the estate. Although 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. If not Probate or a Letter of Administration will have to be applied for. In other words who ever is dealing with your affairs must apply for a Grant of Probate.

 

The greatest confusion with probate is that the probate application must be undertaken whether you make a will or not.

 

If you make a will your executors will apply for what is known as a Grant of Probate if you did not make a will the person who is dealing with your affairs will become your estate administrator and will apply for a Letter of Administration also known as Letters of Administration . The probate forms are the same whether you are applying for Grant of Probate or applying for Letters of Administration.

 

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