Do I need Probate if I have a Will?
Posted on 30th January 2024
Drafting a Will is an important step towards ensuring that your assets are distributed as per your wishes after your death. If a person dies without a valid Will, the Rules of Intestacy come into play. Whilst our Probate Solicitors in Lancaster are aware that some people are happy with these Rules, making a Will helps to ensure that your estate can be dealt with quicker and easier by your loved ones, even saving money in many cases.
In England and Wales, the estate journey does not end at just having a valid Will; there is a legal process, known as Probate, that often follows. In this article, our Probate Solicitors explore probate, explaining it’s necessity when a person dies with a Will.
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Understanding Probate:
Probate is a legal procedure where a Will is proven in the Court as the person’s last Will, and is accepted as a valid public document. It's a process that confirms the executor's authority to administer the deceased's estate. When a person dies without a Will, a similar document is required, known as Letters of Administration. Collectively, these documents are referred to as Grants of Representation, or simply, Probate.
Many of our clients are under the impression that, when they make a Will, Probate will no longer be required. This is not the case, and our Probate Solicitors in Lancaster explain it like this: a valid Will ensures that your wishes are set out in black and white after your death, and the people named as executors will be able to deal with these. Probate is legal confirmation from the Court that the executors can deal with the deceased’s assets.
Now, you may think this confirmation is the Will itself. However, many organisations request the Probate, especially if the assets are larger, such as money in the bank over £50k (this being the usual threshold for many high street banks- read about other thresholds in our article, here), or property/land. This is because whilst anyone can present a Will forward and say it was the most up-to-date Will of the person who died, it’s important that Probate confirms this to be the case. This is a protective measure, to ensure that the wrong Will is not administered.
For example, a recent case our Probate Solicitors in Lancaster came across was when our clients were applying for Probate of a Will made in the last few years. Unfortunately, the client was contacted by the executor named on a previous Will, who had also been trying to administer the estate on the basis of the Will they had believed to be the last Will of the deceased. Our client’s Will was the most up-to-date Will, so was the correct one, however, it clear how easy it is for the wrong Will to be administered, even by those loved ones closest to you.
When is Probate not required?
There are scenarios where Probate may not be required, especially if the estate is small, or assets are jointly owned and pass by survivorship. Assets that pass directly to a surviving joint owner do not usually require probate. However, what qualifies as a 'small estate' is harder to define, as it varies depending on the organisation which holds the assets, and professional advice is often needed to navigate the administration of these estates, to ensure that they are administered correctly.
The journey of ensuring that your assets are distributed as per your wish goes beyond just having a Will. Probate is a critical part of this journey, offering a legal framework within which Wills are validated and administered. Whilst it can seem pointless to make a Will if your estate requires Probate, as can be seen above from our Probate Solicitors in Lancaster’s article, the two documents have distinctly different purposes, making the importance of both significant in finalising your loved one’s affairs and legacy.
For assistance with making a Will or Probate, contact our Probate Solicitors in Lancaster online, here, or call 01524 581306.
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Tagged as: Probate, Solicitors in Lancaster
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