When is Probate Required?
Not every estate requires probate, but many do. Whether it is needed depends primarily on how assets are held and their value.
Where a property was owned in the sole name of the deceased, probate is almost always required before it can be sold or transferred. How property is owned can have a significant effect on what happens after someone dies. Financial institutions set their own internal thresholds, often between £5,000 and £50,000, above which they will not release funds without a grant.
Assets held jointly will usually pass automatically to the surviving owner under the right of survivorship, which can mean probate is not required for those assets. However, this does not automatically mean the estate as a whole falls outside the probate process.
A common issue is assuming probate is not required when it actually is. This can cause significant delay in administering the estate and create difficulties for those waiting on the outcome. Where probate is required, the next step is usually to apply for probate.
For a more detailed explanation of the circumstances in which probate may or may not be required, read our full guide to Do I Need Probate?
At MJV Solicitors, we help families assess whether probate is required and advise on the correct steps to take.
For more information about the probate process and how MJV Solicitors can help, read our complete guide to Probate and Estate Administration.
