Probate is the process of dealing with somebody’s estate when they die.
A Grant of Probate is obtained where a person held a Will and a Grant of Letters of Administration is the equivalent if the person did not have a Will.
Obtaining probate proves that the Will is valid and confirms who has the authority to deal with the estate.
The executor named in the Will or the next of kin under the rules of intestacy if there is no Will are the people entitled to obtain the Grant of Probate or Letters of Administration. They are also the people responsible for dealing with the estate.
A Grant of Probate is usually required when a person owns property, bank accounts, investments or other assets in their sole name. The executor or next of kin under the intestacy rules will require a Grant of Probate or Letters of Administration before they can sell or transfer property, close the bank accounts or investments and obtain the funds or to deal with transfer of any assets of the estate.
If the person had a Will, the Will explains how the estate is to be distributed and the executors will gather all of the funds and distribute in accordance with the Will. If the deceased did not hold a Will, the estate will be distributed in accordance with the rules of intestacy.
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Tuesday, January 21, 2025
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