Once you have valued the estate and, if necessary, completed an IHT form, you can complete a probate application form (PA1P) or Register online.
In England and Wales there are no application fees for estates under £5,000. For estates above this threshold the fee is £300.
In Northern Ireland there are no fees for estates under £10,000, otherwise there is an application fee of £261.
In Scotland, no fees are payable on estates under £50,000. Between £50,000 and £250,000 it is £282. For estates over £250,000 there is a surcharge of £565.
Inheritance tax (IHT) must be paid by the end of the sixth month after death.
The executor can submit an application to banks with IHT423 form and request to pay HMRC directly. However, if there is not enough in the deceased's bank accounts – for example because the money is tied up in assets – you may have to pay this out of pocket.
If necessary, you can apply to HMRC to defer the payment, split it into 10 equal installments and then claim the money back once you have probate and the assets have been sold. However, you must pay interest on the deferred payment.
It is not very helpful that the probate office will only grant probate once the IHT has been paid, but this should hopefully be the final step.
Once you have been granted probate, you can order additional copies of the document so that you can send it to multiple organizations. The costs are €1.50.
Once probate has been granted and any assets have been sold if necessary, the executor can distribute the estate to the beneficiaries.
“Executors will have to provide estate accounts showing that beneficiaries are receiving their full rights,” Mr Hancox said.
“They must also keep records of all payments made to beneficiaries. Executors are responsible for maximizing the estate of the beneficiaries, so every effort must be made to manage the estate efficiently and effectively.”
Probate issues
Hopefully the process of applying for probate will go smoothly, but there may be some stumbling blocks.
Dealing with disputes
When money is involved, there is always a chance of conflict.
Disputes can arise over the validity of a will or executors may even be accused of not administering the estate properly or quickly enough.
Eleanor Gadd, partner in the Tax and Trusts and Wills and Estates team at Knights, said: “The validity of wills is often questioned, either on the grounds of competence or on claims that the text does not reflect the intentions of the deceased at that moment.
“If individuals are not cared for, and they feel they should be, claims against the estate can arise. Beneficiaries may quarrel with each other or with the executor of the will. The list is endless, and the sooner sensible legal advice is sought, the better.”
International inheritance law
The grant of probate or representation covers assets held in England and Wales, but things get a little messier when it comes to foreign assets.
Typically, a separate probate process will be necessary in each place where the deceased left assets.
Some countries may have reciprocal arrangements that recognize English legal documents, but Andrew Reay, probate manager at Harbottle & Lewis, said the “the real fun begins” in jurisdictions struggling with our “weird, trust-based inheritance laws.”
He said: “Many of our friends on the continent, for example, do not have the concept of an executor and will not understand English Grants of Probate.
“Instead of, their inheritance rights means that beneficiaries under a will immediately inherit upon the death of a person.
“If you own assets abroad, as part of your estate planning you should always seek local advice on how their domestic legal systems will treat your will and what steps your executors or beneficiaries will need to take to gain control of your assets. after your death.”
Variations based on the complexity of the estate
The complexity of applying for probate can vary.
Sally Cook, legal director at law firm Weightmans, said: “It may depend on what assets the deceased owned, whether the estate is taxable, whether the deceased was resident in Britain and whether the deceased had a will.”
The process will be different each time, says Stephanie Parish, a partner in private banking at law firm Clarion.
She said: “In some cases, where the estate is simple, there is a will and assets are limited, probate and administration of the estate can be done within a number of months.
“While for some families where the estate is more extensive and complex and there are inheritance taxes to pay, the process can be lengthy and take several months or even years.”