How Long Does Probate Take?

After the death of an individual, those dealing with the deceased’s estate will have the job of finalising their affairs. They may be concerned with the probate timeline and all of the different stages involved in estate administration. In this blog, we’ll walk through some FAQ’s and try to shine a light on a sometimes tricky and emotionally volatile time you could spend anticipating probation.  

What is probate?

The term probate is commonly used to refer to the process of winding up an estate after someone has died. As part of this process, it is often necessary to apply for a Grant of Probate or, if the deceased did not leave a Will, a Grant of Letters of Administration.

This is the document that authorises the executors or administrators to deal with the deceased’s assets and liabilities, including closing accounts, selling property and paying debts.

How long does it take to get a Grant of Probate?

The time taken to obtain probate depends on several factors. Before the application can be sent, the executors or, if there is no Will, the administrators, need to value the estate. This process involves contacting all account and policyholders and creditors and valuing all of the estate assets and liabilities, including property, cars and valuable items.

The value of the net estate will determine whether Inheritance Tax (IHT) is payable. If the net estate is worth more than £325,000, IHT will usually be payable at a rate of 40% of the amount over the nil-rate threshold of £325,000.

However, there are a number of other allowances and other considerations to take into account. If the deceased’s spouse died before them and their £325,000 IHT allowance was not used, any unused portion can be transferred to the deceased’s estate.

There is also a property allowance of £175,000 for each spouse or civil partner if a property is passed on in the Will to a direct descendant, such as a child or grandchild. This means that the total potential IHT allowance is £1 million.

Calculating IHT can be complex, particularly if the deceased has given away cash gifts in the last seven years of their life, as IHT may be payable on these on a sliding scale. You may need to seek professional help to ensure that you have the correct figures.

A substantial number of IHT forms then need to be completed. As well as the main form and summary form, there are ancillary forms for each type of asset and liability. It is essential to fill these in correctly as executors and administrators can be held personally liable for errors that cause a loss to the estate.

When the forms are submitted to HM Revenue & Customs (HMRC), the IHT must be paid. If the deceased held funds in a bank, building society or National Savings account, a form can be sent to the account holder asking them to pay the IHT out of the money held.

Around two weeks after submitting the HMRC forms and paying the IHT, you can apply for probate by sending an application for a Grant of Probate or Grant of Letters of Administration to the Probate Registry. There is a form to fill in and an application fee to pay. If the deceased left a Will, this is also sent.

The time taken by the Probate Registry will depend on their backlog, but is often up to three months or longer. If they need to come back to you with enquiries, this can further delay matters, so it’s definitely worth getting professional help to get it right the first time around.

Can I speed up the process of probate?

When dealing with the valuation of the estate and making a probate application, you will need to wait for asset and liability holders to respond with figures and for the Probate Registry to process your application.

The best way to speed up probate is to ensure that you respond promptly to correspondence, that your figures are accurate and that the forms are completed correctly. You can chase asset holders and creditors for figures if you do not hear from them within a reasonable amount of time.

When it comes to the Probate Registry however, you will generally need to wait for them to deal with your application. Probate timescales can vary widely depending on the Registry’s workloads.

Dealing with an estate administration is very time-consuming. If you or your fellow executors do not have much time to devote to the process, you may want to consider appointing a solicitor to deal with it on your behalf who can prioritise the process and complete it promptly. They will be able to reply to correspondence straight away and move matters forward as quickly as possible, whilst avoiding commonly made mistakes.

Once probate has been granted, what happens next?

Once probate has been granted, you will need to send sealed copies of the grant to the asset holders. They will then close accounts and send the funds to you. You can also sell any property.

You will need to ensure that all liabilities are paid, including tax. If you are not certain what liabilities the deceased had, you may be advised to put statutory advertisements in the Gazette asking for creditors to come forward.

When you have collected in and liquidated all of the assets and paid all of the debts, you will need to prepared detailed estate accounts. This will need to include income received by the estate during the administration period.

Beneficiaries who have been left a share of the residuary estate, i.e the amount left after all specific legacies have been paid, are entitled to see the estate accounts. For example, if Joe is left £20,000 and Mary is left everything else, Mary is entitled to see the estate accounts, but Joe is not.

You will then be ready to distribute the estate to the beneficiaries. You may be advised to wait for at least six months from the date of the Grant of Probate or Grant of Letters of Administration to see whether any claims are made against the estate by individuals who believe they should receive financial support.

If there is a chance that not all beneficiaries have been identified, you should also place a statutory advertisement in the Gazette asking for them to make themselves known.

For information on our services, see our Probate solicitors in Bristol page.

If a dispute over probate has arisen and you would like assistance in resolving matters, see our Contentious probate solicitors in Bristol page.

Contact our probate solicitors in Bristol

At Lyons Solicitors, we provide a comprehensive probate service. We offer a free first consultation so that you can ask us any questions you may have about the probate application process.

To book a free initial consultation with our specialist Wills and probate solicitors in Chew Magna, Kingswood or Westbury-on-Trym and the wider Bristol area, please get in touch today. You can use the contact details for each office or, alternatively, fill in the enquiry form to request a call back.