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Inheritance tax

How long does probate take – All the key questions answered

Probate refers to the legal process of reviewing a will with the aim of determining its validity and authenticity. It can also be defined as the general administration of a deceased person’s estate.

In this guide, we will analyse the concept of probate and the period after which probate is granted.

1 – What is Probate?

Usually, the court appoints an individual who is also called an executor named in the deceased’s will mainly if there’s no Will of garnering the assets, paying the remaining liabilities on the individual’s estate, alongside distributing the remaining assets to beneficiaries.

Here is a short video explaining what probate is and what it costs.

2 – How Long Does Probate Take?

After the oath swearing, the grant of probate usually takes between 3-4 weeks to be received. The remaining probate process usually takes up to 6 months to complete but can easily go past 12 months.

The revenue and customs authority can take up to five months to process capital gains tax and the inheritance tax. You should pay inheritance tax to make sure the process takes the shortest time possible to complete.

Here is short video that explains a little more about how long probate takes.

3 – What Is the Cost of Probate?

You can read more about the costs of probate here.

In essence the costs are split in to two parts.  There is the fixed fee that you pay to the government and then there is the fee that you pay to a solicitor or probate specialist to deal with all matters.

The fixed fees are going to change from April 2019.  At present, there is a £215 cost for a probate application fee made by an individual or £155 for applications made by a probate solicitor or specialist.

The fees for using a solicitor or probate specialist will typically range from between 3% to 5% plus VAT.  As an example, if your estate is worth £500,000, then costs will range from £15,000 to £25,000 plus VAT.

Therefore the probate cost will vary depending on the deceased person’s assets and property value. Generally, as you can see, the higher the value of the asset, the more the probate costs.

Need a speedy and cost effective probate process – Co-Op Legal Services can help

We have partnered with Co-Op Legal Services, one of the UK’s leading probate specialists, to bring our site users a cost effective but premium level probate service. 

We realise that for many it is essential that probate is completed quickly.  That is why our dedicated service is designed to speed things up as much as possible for you and consequently reduce the time it takes for probate to be completed.

The services are broken down in to 2 options.  These allow you to choose how involved you want to be in the probate process.

Option 1 – Tell me what to do – Initial advice using this service is ALL free

We work in partnership with Co-op Legal Services who offer a Bereavement Notification Service which provides helpful practical advice and assistance following a bereavement.

This may include help with financial matters such as providing letter templates for you to give to the bank, building society, pension provider and other financial institutions about your loss.

The service can also help with stopping unwanted mail, closing social media accounts and giving advice where there has been a referral to the coroner or there is to be an inquest.

For free initial advice call our Probate Specialists on – 0330 0417 754

Option 2 – Do it all for me – Initial advice using this service is ALL free

Co-op Legal Services offers a complete Probate Service.

We take full responsibility for getting the Grant of Probate and dealing with the Legal, Tax (excluding VAT), Property and Estate Administration affairs on your behalf.

Our local Probate Consultant can meet with you in your home or another location (in England or Wales) to explain the Probate process, to answer your questions.

We will provide you with a Fixed Fee Probate quote which is based on the individual circumstances of your loved one’s Estate.

Our price ranges start from £1,603 excluding VAT and disbursements. There are a number of factors which can affect the complexity of an Estate and the quotation you will be given, including the value and nature of the assets, whether or not there is a Will, and the number of Beneficiaries.

There are no upfront costs to pay as our Probate fees are deferred and will be taken from the Estate once it is in funds. 

For free initial advice call our Probate Specialists on – 0330 0417 754

Co-op Legal Services is a trading name of Co-operative Legal Services Ltd which is authorised and regulated by the Solicitors Regulation Authority.

What you need to do next

If you would like some help and either know which of the 2 tiered approach you would like to use, or would just like to chat to help you decide, please call us on 0330 0417 754.  

 

4 – What is a Grant of Representation?

A grant of representation is a legal document that an individual should acquire to deal with the deceased person’s estate.

This document confirms your legal status and your ability to deal with all things related to the Estate of the person that has died.   You should also note that the grant of representation may still be needed irrespective of whether the person that died left a Will.

5 – Who is allowed to apply for probate?

The testator usually appoints the person who should serve as the executor. If the will of the testator doesn’t nominate such a person, it won’t be possible for one party to apply for probate. In such instances, one of the beneficiaries is allowed to apply for legal documents allowing them to act as administrators.

6 – What is the timeframe to apply for probate?

In England & Wales there are no time limits for the probate application.   However, there are other aspects of the process, such as settling inheritance tax issues, that do have timescales attached.   When applying for probate you first need to make sure you have a grant of probate.   This allows you to deal with their affairs.

When it comes to inheritance tax, this must be deal with within 6 months of the date of death.

Probate case

7 – How long does probate take after a death?

Typically it will take between 6 to 12 months with 9 months being the average time for probate to complete.   If there is a Will in place and the estate is relatively straightforward it can be done within 6 months.  If there is no Will or the Estate can not easily be valued or identified then it can take 12 months and sometimes longer.

 8 – What is the probate valuation?

When a person dies, the assets they owned, including money and property should be evaluated prior to issuing a grant to the executor. This has to be done so you can establish whether there is any inheritance tax owed.

This should be worked on before the assets of the deceased are handed over to the beneficiaries.

9 – What is the Role of the Probate Registry

The Probate Registry is part of the HM Courts & Tribunal Service. Its role is to issue the grants of representation.  As outlined above, this is the legal document that you need to have the legal right to deal with the Estate of the person that has dies.

10 – What if you have a Contentious Probate?

It may be challenging for an executor to deal with the administration of an asset. Whether the deal revolves around the beneficiary or an executor, working with a team of solicitors who can contend contentious probate will come in handy for both parties.

Contentious probate refers to a clash relating to the administration of the deceased person’s assets. It may entail an argument over how the will is being interpreted or working with prosecutors who barely understand their role in the administration of the will.

Apply for probate

How the UK Care Guide and Co-Op Legal services can help you through the probate process quickly

We have partnered with Co-Op Legal Services, one of the UK’s leading probate specialists, to bring our site users a cost effective but premium level probate service. 

We realise that for many it is essential that probate is completed quickly.  That is why our dedicated service is designed to speed things up as much as possible for you and consequently reduce the time it takes for probate to be completed.

The services are broken down in to 2 options.  These allow you to choose how involved you want to be in the probate process.

Option 1 – Tell me what to do – Initial advice using this service is ALL free

We work in partnership with Co-op Legal Services who offer a Bereavement Notification Service which provides helpful practical advice and assistance following a bereavement.

This may include help with financial matters such as providing letter templates for you to give to the bank, building society, pension provider and other financial institutions about your loss.

The service can also help with stopping unwanted mail, closing social media accounts and giving advice where there has been a referral to the coroner or there is to be an inquest.

For free initial advice call our Probate Specialists on – 0330 0417 754

Option 2 – Do it all for me – Initial advice using this service is ALL free

Co-op Legal Services offers a complete Probate Service.

We take full responsibility for getting the Grant of Probate and dealing with the Legal, Tax (excluding VAT), Property and Estate Administration affairs on your behalf.

Our local Probate Consultant can meet with you in your home or another location (in England or Wales) to explain the Probate process, to answer your questions.

We will provide you with a Fixed Fee Probate quote which is based on the individual circumstances of your loved one’s Estate.

Our price ranges start from £1,603 excluding VAT and disbursements. There are a number of factors which can affect the complexity of an Estate and the quotation you will be given, including the value and nature of the assets, whether or not there is a Will, and the number of Beneficiaries.

There are no upfront costs to pay as our Probate fees are deferred and will be taken from the Estate once it is in funds. 

For free initial advice call our Probate Specialists on – 0330 0417 754

Co-op Legal Services is a trading name of Co-operative Legal Services Ltd which is authorised and regulated by the Solicitors Regulation Authority.

What you need to do next

If you would like some help and either know which of the 2 tiered approach you would like to use, or would just like to chat to help you decide, please call us on 0330 0417 754.  

 

 

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Get FREE initial advice on probate from the Co-op.  We can also offer a cost effective, trustworthy and speedy service to help you through the probate process.  Call or leave us your details to arrange a call. 

 

 

You can contact the Co-op by phone on

0330 0417 754

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