What is approval? I Thomas & Thomas Lawyers
In the first three months of 2023, the Family Court saw 69,208 applications for the grant of probate, up 12% from the first quarter of 2022. The court notably managed to grant more than 50,000 approval grants during this period. Additionally, an unprecedented 89% of applications and 90% of grants were processed digitally, signifying the continued shift to the court’s online system.
Although the courts are making progress, they remain inundated with an increasing number of applications, as it also appears that a significant portion of the population is neglecting to make a will, putting further pressure on the system.
Recent surveys have revealed that a staggering 59% of UK citizens have not made a will, and this figure rises to an even higher 65% among those aged 45-54. The absence of a will not only complicates the inheritance process for loved ones, but also puts more pressure on the courts.
This blog further explores probate and its importance in the management and distribution of a deceased person’s assets, delving into the scenarios in which probate is required and highlighting the need to probate the will and appoint a person authorized to manage the estate.
What is approval?
When a person dies, their assets (money, property, and personal effects) are called their “estate.” Probate is the legal process of managing and distributing that estate, which includes collecting money owed, paying debts (such as taxes), and dividing remaining assets among beneficiaries. You should not make financial plans or put a property on the market until you have obtained probate.
When is approval required?
Probate validates the will (if available) and names the person authorized to manage the deceased’s estate. The executor is usually the person appointed by the deceased (testator) to administer the estate according to the terms of the will. The testator can choose as executor any trusted person, not necessarily the next of kin.
If the deceased has not named an executor or the will is found to be invalid, the next of kin may have the right to apply for probate and become the administrator of the estate.
The person named as executor in a will is responsible for managing the deceased person’s estate according to the provisions of the will. The testator has the freedom to choose as executor any trusted person, without requiring that they be the next of kin.
If the deceased person did not name an executor in their will or if the will is declared invalid, the next of kin may have the right to apply for probate and take on the role of administrator of the estate. A residuary beneficiary can also step in to administer the estate.
When a person dies without leaving a valid will (intestate), the distribution of the estate follows the intestacy rules. In such circumstances, an administrator will be appointed to oversee the distribution of the estate, functioning similarly to the role of an executor.
To manage the assets and distribute the estate, the executor and administrator must first obtain a Grant of Probate or a Grant of Letters of Administration respectively. These grants provide legal authority to manage the deceased’s assets and carry out their wishes or distribute the estate in accordance with the law.
What is a grant of approval?
A Grant of Probate is a legal document that allows its holder to access private information about the deceased, such as bank accounts, as well as resolve outstanding matters such as debts. This is usually the next of kin or designated executor. It should be noted that this grant is only “probate” if the deceased person had a will. If they did not have one, this is called a grant of letters of administration and you must apply for one.
Whether or not the deceased has a will, a grant document allows its holder to manage the deceased’s estate. This can include everything from debts to assets, although when it comes to distribution, one must strictly follow the instructions in the will. If there is no will, the law determines who gets the property.
Apply for probate if there is a will
The person named as executor in the will can apply for probate. This is still true even if they were only named executors as part of a revision of the will (a “codicil”). It is common for the deceased to have told him in advance so that he is aware of his responsibility and prioritizes it upon the death of the will writer. An executor is not entitled to any inherited assets by assuming this role.
To apply for probate, the will must be physically included in the probate application. Copies of any form are not admissible and the version of the will sent must be the most recent and updated version. Ideally, the deceased should have informed the executor of the location of their will. It may not be with them – the document could be held by a solicitor’s office or the National Probate Registry in Newcastle, for example.
There may be multiple executors to handle a single probate case. If desired, the right to be executor can be lost. This can also be done permanently if the potential executor has no interest or ability to apply in the future. Probate is a crucial legal process that handles the distribution of assets after a person’s death. Understanding the requirements of probate, whether with or without a will, ensures a smooth transition of assets. Seeking advice from qualified probate solicitors, such as Thomas and Thomas Solicitors, can be invaluable. Overall, understanding probate allows individuals to plan for the future and simplify estate management.
If you are considering probate or require legal advice on a related matter, please do not hesitate to contact Thomas and Thomas Solicitors today for a no-obligation discussion. Our team of estate lawyers is here to help you.
