How much money does an estate need to have before probate is required?

How much money an estate needs to have before probate is required depends on what assets are held and with which financial institutions. Whether the deceased left a Will or not, you may be required to apply for a Grant. In this article, we will show you when probate is required, including current financial institution thresholds for needing a Grant.  

If you are not sure what probate is, read this article.

When is probate required?

When assets are held solely and the balance exceeds their probate threshold, financial institutions may need to see a Grant in order to release funds. This threshold varies as it is set by the individual institution rather than by the Government. Therefore, it may be a timely task to contact each institution where the deceased held assets to understand their requirements. 

Other scenarios where probate is required: 

• Property in sole name: If the deceased owned a property in sole name. The property will need to be professionally valued before you can apply.
• Other significant assets in sole name: Did the deceased have a valuable art collection, antiques, or businesses? These will need to be valued by a professional.
• Stocks and shares in sole name: Did they have a Stocks & Shares ISA? Did they invest by buying shares in the company they worked for? Or did they have a Financial Adviser helping with investments?
• Financial institution asks for it: In some instances, you may be asked for a Grant just to discuss or query something with a financial institution relating to a deceased account. Be prepared that a Grant may be needed, even if all the above scenarios are not applicable.
• Estate administration disputes or legal proceedings: In rare circumstances, the estate administration process can lead to disputes and legal proceedings, and in this scenario, it will be important to get a Grant. 

When is probate not required? 

Generally, probate isn’t required if the estate is valued at less than £5,000, as most financial institutions will release funds lower than this. 

Also, if assets were held jointly, probate is often not required as these assets automatically pass to the surviving spouse or civil partner. However, some jointly held assets, such as property, may need a Grant if specific arrangements have been made during the lifetime. For example, if the property is owned by tenants in common rather than joint tenancy. 

Other scenarios when probate is not required: 

• No property, land, or shares: No estate owned.
• Insolvent: If the deceased owed more than he owned.
• Trusts: If they set up a Trust in their Will. 

Current probate thresholds for UK financial institutions

Each financial institution has its own probate threshold. Some set a fixed limit, while others decide on a case-by-case basis.   

Please note that these limits can change, so it's best to confirm directly with the relevant institution when dealing with an estate. 

These figures are accurate to the best of our knowledge as of March 2025. Since thresholds can change, it's important to confirm the details directly with each institution when managing an estate.

As you can see, how much money an estate needs to have before probate is required depends on many different factors and the size of the estate. If you are unsure, please seek professional probate support.