Whether a Will is left or not, normally all estates over £5,000 have to pass through the Probate Courts. This is to ensure the deceased estate is dealt with properly, the estate passes to the correct people and any Inheritance Tax due is identified and collected.
For Estates under £5,000
If the assets in the sole name of the deceased are under this amount then Probate is not normally required. Joint assets such as bank accounts and property are not included as they will pass to the survivor.
All you need do at this stage is inform everyone concerned. If there is a Will, you must retain this together with a copy of the death certificate in safe storage, because if you ever wish to sell your property you will need these documents.
For Estates over £5,000
If the assets in the sole name of the deceased are over this amount the Probate is normally required. Again, joint assets such as bank accounts and property are not included as they automatically pass to the survivor.
Some Banks and Building Societies will release funds of up to £15,000 upon completion of a "Small Estates Indemnity Form". However, most will insist on the next of kin or, if there is a Will. the Executors, obtaining a Grant of Probate before they will release the funds.
Professional Probate Services has been dealing with Wills and Probate for over fifteen years in all parts of the Country and provides a complete probate service.
Since all estates are differant it is important we talk to discuss your particular requirements.
For a no obligation discussion with one of our Probate Managers please telephone the number at the top of this page click the request a quote link.