When should you apply for probate?
Probate is a legal and financial process that happens when someone passes away. It involves proving that a Will is valid, valuing the property, money, and possessions (referred to as the assets) that belonged to someone when they died, and distributing them in accordance with their wishes to the rightful beneficiaries. If you are the next of kin of the deceased, or you have been named as an Executor in their Will, the responsibility of administering the estate of a loved one and completing the probate process will most likely involve applying for a Grant of Probate.
Although a Grant of Probate is not needed for all estates, the administration of an estate must always be carried out. Therefore, you might be asking yourself, when should you apply for probate? The answer depends on various factors, such as the complexity of the estate, the presence of a Will, and the assets involved. In this article, we’ll explore the key elements that determine whether you’ll need to apply for probate, and if so, at which point you should apply for probate after a death. Applying for probate isn’t always immediate, and understanding the right time to apply is crucial. We’ll explore when you should apply for probate and why timing matters.
When should you apply for probate?
The application for probate should occur after a person’s death, but before any significant actions are taken regarding the estate. It is best practice to start the probate process as early as possible, as it is hard to predict how long it will take to complete. Every estate is different and involves its own complications. Here’s a breakdown of when and why you should apply for probate:
After the funeral
It’s common to wait until after the funeral arrangements of someone who has passed away are complete before initiating the probate process. This gives the family and loved ones of the deceased time to grieve, arrange the funeral, and begin sorting through their affairs. Once these immediate tasks have been completed, probate and administering their estate should then become your next priority.
Once the Will has been located
If the deceased left a valid Will, probate can be applied for once the document has been located and validated. By ensuring that the Will is not contested by any family members or potential beneficiaries at this stage, delays further down the line can be avoided. If there are solely owned assets and the value of one or more of these assets listed in the Will exceeds the relevant financial institution’s threshold, probate is most likely required, no matter whether the person passed away with a Will or intestate.
If the individual has passed away without a Will, then you will need to apply for a Grant of Letters of Administration, rather than a Grant of Probate. The thresholds and requirements remain the same, no matter the type of Grant that is needed.
When the estate is worth over a certain threshold
To administer most estates, a Grant of Probate will need to be applied for. However, there are some circumstances when it’s not needed. Probate is required when the balance of assets exceeds the probate threshold(s) of the financial institution(s) they are held with. Because of this, you may not need probate if the estate of the deceased is of limited value. Generally, if the estate is worth less than £5,000, most financial institutions do not require a Grant of Probate to release the funds. However, financial institutions may decide whether probate is needed on a case-by-case basis, or they may have set thresholds at which they release the funds. These thresholds vary greatly from institution to institution, but they typically range between £5,000 to £50,000. As these thresholds are subject to change by the individual institution, it is recommended that you check with the relevant institution when required. Below, you can find a list of current probate thresholds for UK banks and building societies:
Aviva - £200,000
Axa - £10,000
Bank of Ireland - £30,000
Bank of Scotland - £25,000 if the person who has died did not leave a Will, or £50,000 if they did leave a Will or the funds are being released to a spouse or civil partner.
Barclays - £50,000
Birmingham Midshires - £50,000; however, if a Solicitor is handling the estate, this can increase to £175,000.
Co-op Bank - £50,000
Coventry Building Society - £50,000
First Direct - £20,000
Halifax - £50,000
HSBC – Decided on a case-by-case basis
Lloyds Bank - £50,000
M&S Money – Decided on a case-by-case basis
Monzo Bank - £5,000
Metro Bank - £25,000
Nationwide - £50,000
NatWest - £50,000
NS&I (Premium Bonds) - £5,000
Post Office - £30,000
Revolut - £5,000
Royal Bank of Scotland - £50,000
Sainsbury’s Bank – £20,000
Santander - £50,000
Skipton Building Society - £30,000
Tesco Bank - £50,000
Triodos Bank - £25,000
TSB - £50,000
Virgin Money - £35,000
Yorkshire Building Society - £30,000
These probate thresholds are subject to change by the institutions they refer to; they are accurate to the best of our knowledge as of March 2025. If you are administering an estate, please confirm whether you need a Grant of Probate with each institution directly.
If the deceased owned property or significant assets
If the person who has died owned property such as a house, land, or other significant assets, we advise applying for probate sooner rather than later. Without it, you may not be able to access or manage their estate effectively, as a Grant of Probate is most likely needed to transfer property.
After resolving any debts or claims
Before applying for a Grant of Probate, it’s essential to get a sense of the value of the estate. This involves valuing the assets held in the estate against any liabilities such as debts and bills. Creditors and beneficiaries may need to be notified, and any existing debts must be settled before beneficiaries receive their inheritance. If they are not, this could cause delays further down the line within the probate process, especially if there are complicated financial issues or disputes raised regarding the assets.
If There Are Multiple Beneficiaries
If the estate involves multiple beneficiaries, especially those who might have conflicting interests, applying for probate sooner rather than later can help avoid delays and potential disagreements. A timely probate application can provide legal clarity for everyone involved and ensure that the estate is settled according to the deceased person’s wishes.
To Avoid Additional Costs or Delays
While there is no strict deadline for applying for probate, delaying the process may lead to unnecessary complications. Debts may accrue interest, or there could be administrative penalties, especially if assets such as property or investments lose value over time. Moreover, in cases where the deceased had a large or complex estate, it may be beneficial to apply for probate sooner to prevent issues from escalating.
When is probate not required?
Aside from an estate being of diminished value, other factors may mean that applying for a Grant of Probate is not a requirement when administering an estate. If the assets contained within an estate are held jointly with a surviving spouse, civil partner, or joint owner, they will often pass automatically to them, meaning that probate isn’t needed at all.
What happens if you delay probate?
Delaying starting the probate process can cause several issues. These may involve:
- Legal complications: If probate is delayed, whether this is a delay in applying for the Grant of Probate itself, or delays further along in the probate process, this may cause legal complications. This is especially likely if there are disputes from beneficiaries or debts within the estate that need to be settled.
- Failure to secure assets: If no one is officially appointed to handle the estate, assets such as property, bank accounts, and investments may be left vulnerable.
- Increased costs: Prolonging the probate process can lead to increased legal fees, court costs, and administrative fees.
When probate is required, there is no official time limit for when the Executor should apply. However, waiting to start the application process means that estate administration cannot begin, and causes delays in distributing the inheritance. Therefore, the Executor could be at risk of claims against the estate from unhappy beneficiaries if they do not apply within a reasonable period.
In addition, if Inheritance Tax (IHT) is payable on the estate, it is best practice to pay it by the end of the sixth month following the death. This is because after this time, interest charges are added. IHT forms must be submitted before the Grant of Probate is applied for, as the court will not issue a Grant until after it has been paid. If you have not applied before interest charges begin, you risk reducing the value of the estate for the beneficiaries.
In conclusion: When should you apply for probate?
The best time to apply for probate is generally soon after the funeral arrangements have been made, to give the family and loved ones of the deceased time to grieve. It is best practice to apply for probate as soon as possible due to the process taking a considerable amount of time and work to complete. Once the Will (if there is one) has been located and validated, and any significant debts within the estate have been assessed, a Grant of Probate should then be applied for. While there is no time limit as to when you need to apply for a Grant, delaying the process could complicate matters and incur additional legal costs.
If in doubt, it is advisable to consult a Probate Lawyer or estate administrator, such as Kings Court Trust, to ensure the process is handled in a timely and efficient manner. By acting quickly, you can ensure that the deceased person’s estate is distributed according to their wishes and that any debts and taxes are resolved as smoothly as possible.
