Probate: How to deal with a will and estate

The financial procedure that follows a death is referred to as probate and can – especially recently with COVID-19 – be a lengthy process. 

Probate is essentially about identifying the assets of person who has died, paying off any debts and sharing out the remaining estate according to their will.

Normally, this process would take around 3-4 months, however with the lockdown caused by the coronavirus, solicitors are warning that this is taking months longer to sort.

Below is simple guide for how to deal with probate – if you are a family member or executor.

1. Find the will

Once somebody’s death has been registered and their funeral arranged, the first thing to do is to locate their will (or confirm they didn’t make one).

If you cannot find one in their home, contact the persons solicitor, accountant or bank to see if any of them holds it.  You can check whether a will is stored with the Principal Registry of the Family Division.  Ask for a search to be made of the safe custody wills register.

2. Contact banks and other financial providers

The executors named in the will, or the people who will inherit if there is no will (called intestacy), should start assembling the financial information. 

You should notify banks, building societies, mortgage lenders, credit card providers and insurance companies. Your first step should be the death notification service which allows you to notify several banks and building societies of a person’s death at the same time.

Then go to the Tell Us Once service which lets you report a death to most government organisations in one go.  You will be able to notify HMRC, DWP, DVLA, the Passport Office and so on in a few clicks.

3. Estimate and report the estate’s value

The executor needs to assess the amount in savings accounts, pensions, shares and Isa’s, and whether the dead persons’ employer owed them wages.  Debts such as credit cards, must be paid off. 

If the mortgage lender requires interest payments to continue while you are applying for probate, the executor can pay these bills and reclaim the money from the estate once they have obtained probate.  The executor should check if there are any payouts from life insurance policies.

4. Begin the formal probate process

The executor should apply for a grant of probate, which is the legal document that enables you to access funds, sort finances and share out assets the deceased accumulated.  The government website www.gov.uk/applying-for-probate sets out the process and whether you actually have to go through it. 

Normally, if the estate is worth less than £5,000 (in England and Wales) there may be no need to apply.  There is an application fee of £155 for estates over the £5,000 threshold, with a £60 fee added if you apply yourself rather than via a solicitor. Assuming you have obtained an estimate of the estate’s value, and you have the original will and death certificate, you can begin the probate process online.

5. Decide whether to use a solicitor probate brokerage or do it yourself

You are under no obligation to use a solicitor but if you do, don’t automatically sign up with the family firm or the bank as the charges can be high.  Most firms operate hourly rates of percentage charging systems.  Law firms are required to disclose their fees online.

Probate brokerages, such as Final Duties, will find you a solicitor from its approved panel that will undertake probate for a fixed fee.  Or you can do it yourself.

If you wanted legal help without paying too much, Which? Legal provides a probate service that promise unlimited advice and support from its experts at £9 a month, plus a £29 joining fee.