What is a Grant of Probate and why do I need one?

When someone passes away their assets will need to be dealt with. This can include both receiving money or items and settling debts. If the deceased left a Will, this process will in most circumstances be handled by the executor. 

The executor is given their authority to act by the Will and in some cases, they would not need to apply for a grant of probate, dependent on the assets and values which are in the estate. 

The Grant of Probate is a document which evidences that the executor has the authority to deal with the assets. The executor has given sufficient evidence to the Court, via the Probate Registry, that the Will under which they are appointed was the last Will made by the deceased and that they are the person named therein. 

A Grant of Probate will be needed to deal with most high value assets, including land. This acts as a safeguard to ensure that the funds from the asset in question are paid to the appropriate person as a part of a genuine transaction. 

Some lower value assets, such as small sums in a bank or building society account, can be dealt with without having applied for a grant of probate. In these cases, the person claiming the funds from the organisation will often sign a form stating that they are entitled to do so and confirming that they will pay the monies out to the correct people. Such forms will usually include some form of personal guarantee to say that the bank would not be liable in the event it was later found that the monies were paid out incorrectly. 

When clients come to us following the death of a family member or friend, we will discuss the assets which are in the estate and give guidance on whether or not a grant of probate is likely to be required. 

The contents of this article do not constitute legal advice and are provided for general information purposes only.