Probate: ten top facts

Our ten top probate facts

1. The word probate can refer to two things: the process of administering a deceased person’s estate (the ‘probate process’) or the ‘grant of representation’.
2. There are nearly 500,000 deaths in England and Wales every year. In some form or other, the probate process will be required for all.
3. A grant of representation is often a vital part of the probate process. It proves that the personal representatives have authority to deal with the estate.
4. The personal representatives are the people responsible for the probate process. If appointed by a will they are known as executors; if not they are known as administrators.
5. “Estate” is a commonly-used word. It means a deceased person’s money, belongings, property, debts, contracts and so on. The probate process is also called “administering an estate”.
6. Whether or not there is a will, the basic structure of the probate process remains the same. If there is a will, it will normally appoint executors and determine how the estate is to be distributed. If there is no will, the probate process is governed by the “laws of intestacy”.
7. In 2009, government figures showed that only 3% of estates were subject to inheritance tax.
8. Whether or not there is inheritance tax to pay, in all cases one of the two tax forms will have to be completed. In most cases, that will be the relatively simple “Return of estate information” form (IHT205). Otherwise it will be the much longer “Inheritance tax account” form (IHT400).
9. There is no legal requirement for a solicitor to be involved in the probate process at any stage. Only 49% of people instruct a solicitor.
10. Probate can be a simple process lasting a few weeks, or it can be a very long, complicated process lasting over a year. Usually it lasts a few months.