Probate is the right to dispose of and deal with the estate of a deceased person, including the disposal of monies, property, and possessions. You should not take any action until you have been awarded probate, so let’s look at it in more detail.
Is probate always needed?
Probate may not be needed if the deceased only had savings, owned shares, or had joint bank accounts with others or owned property or land with others as joint tenants, as these will automatically pass to the surviving joint owner.
What if the deceased had a UK power of attorney?
The existence of a power of attorney does not obviate the need for probate, as it is only valid whilst the donor is alive. Power of attorney can be ended in other ways, but it most commonly ends when the donor has died.
If you would like to find out more about power of attorney, companies such as https://powerofattorneyonline.co.uk/ can help.
Who can apply for probate?
It is important to understand who can apply for probate, which will usually depend on whether there is a will. If a will has been prepared, the executors of this document can apply for probate, and this can be done online. Before applying, you have to estimate the value of the deceased’s estate to calculate whether inheritance tax is due before probate can be applied for.
If you need information or guidance, you can contact the probate section of the Courts and Tribunals Service Centre.
Can you stop a probate application by a third party?
Individuals can challenge applications for probate or enter a caveat prior to it being granted. This may be because there is a dispute about whether a legal will has been created or about who can apply for probate. The caveat must be entered before probate is granted and will effectively suspend the process for six months, although it can be renewed for a similar period.
If you have been challenged by a caveat, you should try to reach a settlement with the person who entered it.