This is an order issued by one of the Probate Registries of the High Court, which confirms or confers the authority of the personal representatives also known as executors or the administrators to administer the estate of the deceased.
What are the different types of Grant of Representation?
- Grant of Probate: this is issued to one or more of the executors appointed by the will.
- Grant of Letters of Administration with will annexed: this is issued when there is a will, but no executors have been named in the will or the executors are unable to act for whatever reason.
- Grant of Letters of Administration: this is issued when the deceased died intestate i.e. without leaving a will. The persons who obtain this grant are known as administrators
What is needed to obtain a Grant of Representation?
The personal representatives need to ascertain the value and nature of the assets and liabilities as at the deceased’s date of death.
They must then sign a statement for the Court confirming that either they are the executors appointed by the will, or if they are applying as administrators, they must establish their entitlement to take out a grant.
In both instances the personal representatives need to confirm the gross and net value of the estate and they will distribute the deceased’s assets in accordance with the Rules of Intestacy or the will if there is one.
How is a Grant of Representation obtained?
An application will need to be completed, signed and lodged with the Probate Registry. An Inheritance Tax account detailing the assets and liabilities will also need to be submitted.
Once the Probate Registry accepts the papers they will issue a Grant of Probate or a Grant of Letters of Administration that will enable the executors or administrators to cash in, transfer or sell the assets.
Practically a copy of the Grant will need to be sent to the varying financial institutions where the deceased held assets for registration.
How long will this take?
As each person’s financial circumstances are different it is very difficult to predict how long it will take to wind up an estate.
Factors that may determine how long an estate may take to deal with may include, but not restricted to the following:-
- Identifying and analysing lifetime gifts which the deceased made
- Difficulty in tracing beneficiaries or where beneficiaries are underage
- Agricultural and business property
- Trusts that the deceased may have had an interest in
- Foreign assets
- Dealing with HMRC especially if Inheritance Tax is payable.
If you have any questions regarding the above, please contact Helen Stewart on 01892 701398, email firstname.lastname@example.org, or Helen Maddison-White on 01892 701342 email email@example.com alternatively visit our website www.ts-p.co.uk/probate