When someone passes away, there are a lot of administrative tasks that need to be organised. Which can understandably be daunting to deal with during grief.
In the majority of cases, the deceased will have written a will. A will outlines various things such as personal wishes, instructions on dealing with the deceased’s estate and the division of their assets, plus they may also have funeral plans in place too.
Having a will in place can make things a lot easier for your loved ones, so if you don’t already have one (which half of all UK adults reportedly don’t) it’s definitely worth considering when you can. And you can simply speak to a funeral director in order to do so.
In the will, specific people (usually the spouse or closest relative(s)) will be named as the “executor or executors” of the estate…
What Are Executors?
Executors are the people who are trusted to deal with the deceased’s finances and assets. They also have the authority to make funeral arrangements.
The maximum number of executors you can have at any one time is four. When writing a will, you are allowed to name only one sole executor, however, at least two are usually recommended – that way you have a backup just in case one of the two aren’t able to fulfil their duties for any reason.
Whilst executors are usually family, they can also be professionals such as a solicitor or a financial expert, an executor can even be a bank.
The named executors will then have to apply for probate in order to obtain the legal right to manage and distribute the deceased’s estate aka their assets such as property, money, and possessions.
What is Probate and How do Wills Work?
Probate is the legal right granted to an executor to deal with any possessions, finances, etc. that belonged to the person who passed away. This is known as their estate.
Probate, and applying for it, is a crucial step in the administrative tasks that are required to manage after a death occurs.
The will must be validated, and once probate is granted, the deceased’s estate must be distributed in accordance with the will. However, in some instances, wills can be contested.
This can be for reasons such as suspected undue influence or if a family member or spouse feels the will’s distribution is unfair and does not adequately provide for them.
This may happen if the family structure differs from the typical unit. For example, the deceased may have had ex-partners through divorces, step-children, adopted children or other similar non blood relatives or dependants.
What if There Isn’t a Will?
As mentioned, not having a will seems to be a common occurrence, and although it may be something people put off until they are older or have a family, unfortunately death can sometimes happen unexpectedly.
If there isn’t a will, the deceased’s assets will be distributed according to the law. The laws on how an estate is distributed without a will are known as intestacy laws or sometimes referred to as rules of intestacy.
The intestacy rules follow a basic structure of the estate being passed on to the closest living relative. This follows a particular order of priority.
Note: Before going to any family, some of the assets/finances will be used to pay off any debts, fees, and things like funeral expenses.
The order generally goes as follows:
- Spouses or civil partners and children will split certain assets
- Just the spouse/civil partner if no children
- Children if no spouse/civil partner
- Parents if no children or spouse
- Siblings if none of the above
- Grandparents if none of the above
- Aunts or Uncles if there is no one else
Note: children include illegitimate and adopted children, but not stepchildren. If there are no full siblings, the estate will be split evenly between half-siblings.
If there are no surviving relatives at all, the entirety of the estate will be passed on to the Crown (Royal Family). This is known as Bona Vacantia which translates to vacant goods, or ownerless property.
However, if there is surviving family, a close relative will need to apply for a grant of letter of administration, which is similar to probate and serves a similar purpose.
When is Applying for Probate Not Needed?
There are some instances in which applying for probate is not needed, the most common reasons for example are:
- Low value estates (valued below £5,000)
- In cases of jointly owned property – this will be passed onto a surviving spouse or whoever jointly owns the property
Probate Steps
- Gather documents (death certificate, will , estate details like bank accounts, debts, etc.
- Value the estate, factoring in inheritance tax.
- Complete application form
- Submit any and all requested documents
- Pay the probate fee of £215 (only if the estate is over £5,000)
Final Thoughts
Administrative tasks such as applying for probate can be daunting, especially if you’re grieving the loss of a loved one at the same time. Hopefully this guide has helped you understand what to expect, so you can take on this task with confidence and clarity.
