A grant of probate is needed to ensure that, should a person have a formal will in place, their assets are managed sensibly. Should the person die intestate—that is, without leaving a legal will—the next of kin must receive a Letter of Administration to handle the estate. But how long does probate actually last in England and Wales? This blog has everything covered.
Getting a Grant of Probate
If there was a valid will, a grant of probate would be granted, although the timing of this process would rely on various elements. These elementes are:
Finding the Will – Should the deceased not tell their next of kin of the location of the will or store it with a registered company, the process could take more time. This is why it is important to inform your loved ones of the location of your will and important documents.
Missing Assets – Should the will not fairly represent the assets of the dead, there will be a delay while all assets are assessed.
Invalid Will – Should a will be a DIY will or has been poorly written, It might not even be current or valid.
Inheritance Tax – Should the estate result in an inheritance tax bill, the HMRC has to be informed and this bill should be settled from the estate before inheritance is distributed.
Should any of the above-mentioned issues develop, a grant of probate could take up to six months. It should all go according to schedule, but it might take two to three months.
Letter of Administration
Should the dead individual leave no will, a Letter of Administration is needed. Usually, one receives this for four to twelve weeks. As soon as the letter of administration comes in, the estate can be distributed. Potential hold-ups with this are:
- The deceased passed away while on holiday
- Inheritance tax
- Complicated business shares
- Difficulty assessing assets
The Probate System
Usually lasting nine months, the probate process might also run six to twelve months. The scale was developed as every circumstance is unique and differs somewhat; some are more challenging than others. Moreover, the size of the estate will be necessary.
Usually released two to fifteen days after the correct procedures are performed, the money is sent to the financial institution with a death certificate, probate award, and closure form.
For professional probate advice, contact Probate a Will on 0203 9859554.
