What is Probate
What is Probate?
What is Probate?
A Grant of Representation is required wherever and organisation i.e. Bank, Building Society, Land Registry requires proof that an application has been made to Court confirming formal authority on a person to deal with the outstanding affairs of the deceased.
Commonly where the deceased has more than £5000 and ordinarily where the deceased has more than £20,000 then a Grant of Representation is usually required.
Types of Probate
Probate (where the deceased person left a valid will).
Letters of Administration with will annexed (when a person has left a valid will but no surviving or willing Executor).
Letters of administration where there is no Will/valid Will.
When Is Probate Needed
As stated above it can be necessary to apply to the Court for a Grant of Representation where there are asset's over the value of £5000 however it does depend on where the asset is held. Where property needs to be transferred a Grant of Representation is always required.