Probate is the legal process of administering a deceased person’s estate. In the UK, probate law governs the process of distributing assets, settling debts, and transferring property ownership after someone has passed away.
When a person dies, their estate will usually need to go through probate unless their assets are held jointly or the estate is very small. The probate process involves several steps:
- Identifying the executor: The executor is the person responsible for managing the deceased person’s estate. If the deceased person had a will, it should name an executor. If not, the court will appoint one.
- Gathering information: The executor must gather information about the deceased person’s assets and liabilities, such as bank accounts, investments, debts, and any property they owned.
- Applying for probate: The executor must apply to the court for a grant of probate, which gives them legal authority to manage the deceased person’s estate.
- Paying debts and taxes: The executor must pay any outstanding debts and taxes owed by the deceased person.
- Distributing assets: Once all debts and taxes are paid, the executor can distribute the deceased person’s assets according to their will or, if there is no will, according to the rules of intestacy.
Probate law also covers disputes that may arise during the probate process, such as challenges to the validity of a will or disagreements between beneficiaries.
It’s worth noting that probate law can be complex, and the process can take several months or even years to complete. Executors can seek professional help from solicitors or probate specialists to ensure that everything is done correctly and efficiently.
