Going through the process of probate is often required to deal with a person’s estate after they’ve passed away. Obtaining a Grant of Probate gives legal authority to the Executor, who will be responsible for administering the person’s estate, including property and money, if they left a will.

Obtaining a Grant of Probate is needed in most cases where the total value of the deceased’s estate is deemed small.

What is a “small estate”?

A small estate is where the total value of the assets is under £5,000. In these cases, probate is generally not required. However, institutions like banks and insurance companies will often have their own specific stipulations. So, although the total value of assets may fall under the threshold, you may still need to get a Grant of Probate.

Where probate may still apply

Investment providers and banks have varying policies when it comes to deciding whether you need to obtain a Grant of Probate. It may depend on where the assets are being held.

Even without a Grant, some banks will release funds up to £50,000. If any account savings fall below this threshold, and they are the only assets in the estate, then probate will potentially be avoidable.

When any shares that are held in the deceased’s name fall below a certain level, often £10,000, many registrars will allow them to be sold without a Grant, as part of their “Small Estates Procedure.” Other investment companies have similar procedures, though when determining whether a Grant of Probate is necessary, they will normally take into account the value of the estate as a whole.

Other options

There are a few other circumstances in which Probate is not required:

Help with getting probate

If you’re looking for help with probate, then Get Probate can help you.

We are authorised and regulated non-contentious probate practitioners – and our fees are considerably lower than banks and solicitors.

Contact us on 0161 907 4044 or [email protected] to find out how we can help you – with either the Grant of Probate or the full probate process.