Posted: Friday, 4 January 2019 @ 13:43
You will almost certainly need a grant if the estate includes:
• assets generally worth more than £5,000 in total (though again this figure varies)
• land or property in the sole name of the deceased, or held as 'tenants in common' with someone else
• stocks or shares
• some insurance policies
How do you apply for a grant of representation?
We are happy to do this but if you want to have go by all means look at the
HMRC site which gives guidance.
Our summary of what one can do oneself to obtain a grant of representation is below.
You have to fill in forms in addition to the PA1 Probate Application form, even if the estate doesn’t owe Inheritance Tax. The estate will only owe Inheritance Tax if it's over the threshold (£325,000 in 2013-14).
Usually, if an estate has no Inheritance Tax to pay, it will be an excepted estate. However, this is not always the case.
Then the completed IHT205 forms and the PA1 Probate Application form to your nearest Probate Registry. You will have to include the original will (if there is one), the death certificate, and the probate fee. If you've filled in form IHT400, follow the instructions on page 55 of the IHT400 guidance notes.
If the estate owes Inheritance Tax, you will not receive the grant of representation (or confirmation) unless you pay some or all of the Inheritance Tax first. The 'due date' is six months after the date of death.
Once you have paid any Inheritance Tax and sent off the forms to the Probate Registry, the process takes about eight weeks if there are no problems.
Thereafter there are three stages:
•examination of forms and documents - Probate Registry staff check the forms and documents and prepare the papers for your interview if you are attending a probate venue or they will send you the oath to take with you to a commissioner for oaths
•swear the oath - all the personal representatives who have applied for a grant of representation will need to swear an oath, either at a Probate venue or at the office of any commissioner for oaths (usually a solicitor’s office)
•probate is granted - the grant of representation is sent to you by post from the Probate Registry
After you get the grant of representation (or confirmation) and have paid any Inheritance Tax due, you can collect in the money from the estate. You can then pay any debts owed by the estate and distribute the estate according to the will or the rules of intestacy.