Understanding When Probate is Required in England and Wales
When is Probate Necessary?
Determining whether probate is required depends on the value of the deceased person’s assets and how they were held. If assets were solely in the deceased’s name, probate is likely needed. If assets were jointly owned, they may pass directly to the surviving owner without probate.
Assessing the Estate
If the deceased had minimal assets, probate may not be necessary. This is often referred to as a "small estate." However, there is no fixed legal threshold for what constitutes a small estate, as financial institutions set their own limits for requiring probate.
Some banks and financial institutions may request probate if the total estate value exceeds a certain amount, while others assess individual accounts separately. It is important to check with the relevant institutions to confirm their specific requirements.
Probate Thresholds for Major Banks (Subject to Change)
Below are some indicative probate thresholds for various banks. Please note that this list should be used as a guideline only and not relied upon as fact, so always verify directly with the institution:
Barclays - £50,000
Halifax - £25,000 (without a will); £50,000 (with a will or to a spouse/civil partner)
Nationwide - £50,000
NatWest - £50,000
Metro Bank - £25,000
Post Office Savings - £30,000 (if a will exists; otherwise, probate is required)
Santander Group - £50,000
Selling a Property and Probate
If a property was owned solely by the deceased, probate will be required to sell or transfer it. However, if the property was jointly owned, the need for probate depends on the type of ownership:
Joint Tenants – The property automatically passes to the surviving owner without probate.
Tenants in Common – The deceased’s share passes according to their will or intestacy rules, requiring probate.
Confused about probate?
Determining whether probate is required can sometimes be unclear. In some cases, it is straightforward—for example, if the deceased had only a small amount of money in the bank and no other assets, probate is unlikely to be necessary. However, if they owned property in their sole name or had multiple high-value assets, probate will be required.
For those handling the estate of a loved one, professional guidance can be invaluable. Our probate specialists are available to provide advice and help you determine whether probate is necessary in your specific situation.
Can I apply for probate myself?
Dealing with probate yourself also carries a level of risk, because you can be held personally financially liable if you make any mistakes.
For these reasons, many people choose to instruct a probate solicitor to carry out this work for them.
Before you decide if you want to deal with probate yourself, you should think carefully about whether you have the time, energy and skill set to carry out this work.
What happens if I don’t apply for probate?
If probate is required but not obtained, the deceased’s assets cannot be accessed or distributed to beneficiaries. Probate grants legal authority to a designated person to manage the estate. Without it, actions such as closing bank accounts, selling or transferring property, accessing pensions, or cashing in investments cannot take place. As a result, the assets remain in limbo, preventing beneficiaries from receiving their inheritance.
Failing to secure probate when necessary can also create future complications for family and friends. For instance, a surviving spouse may assume probate is unnecessary if assets were jointly owned, only to later discover that a property was solely in the deceased’s name. In such cases, probate would need to be completed for the late spouse’s estate before any further estate administration can occur, potentially leading to delays and increased costs.
If you would like some more information about the Probate process or a free no obligation quote, call us on 01685 37 37 21 for a FREE initial chat.