It is generally considered that if the deceased person’s assets are worth less than £15,000, probate won’t be needed. It doesn’t matter if you leave a will. 2) There is no Inheritance tax to pay because the estate’s value is below £325000. So if … In general, probate takes between six to twelve months. The largest was about £20k in HBOS and they told me they could avoid probate by calling it a 'small estate'. Let’s take a closer look at each of these exceptions. The general rule of thumb is that probate tends to be required when a bank account holds more than £5,000. However, many factors affect how long the probate process is, meaning without knowing the circumstances of the individual case, asking how long probate will take can like asking how long is … When is probate required after a death? Some financial institutions have limits above which probate will be required, so taking expert legal advice on probate can be helpful in most cases – and essential in some cases. 5. Do I need Probate UK? The probate limits of the main highstreet banks, are as follows :-Barclays £30,000; Natwest £25,000 Some firms, however, have much higher limits – up to £50,000. Many people get it wrong and end up doing twice as much work because they hadn't read our article. When my father died a couple of years ago, he had no property, but had savings in several banks. If the bank asks for probate then you will need to obtain it. The quick rule of thumb is probate is not required when the estate is “small”, or the property is designed to pass outside of probate. It is often thought that probate is not required if: 1) There is a Will. Banks and others set their own rules about what they will release without seeing a Grant and what proof of entitlement they need. I did not know about probate till he died. Confusion arises as to when probate is required because alot of the banks have differing limits as to when they require probate. What this means if the deceased owned property jointly with another person, such as in the case of a common law marriage, then probate is required to ensure that the deceased's share of the property is properly distributed to legal heirs. How long does probate take in the UK? Don't know if all banks have similar rules. Probate is necessary if a person owns a property and/or has money held in bank accounts. Whether you need probate or not is often up to third parties such as banks, insurance companies etc. For example, the main banks probate limits all differ. One of the first questions asked when it comes to dealing with the deceased’s finances is what I need to do to find out for sure if probate is necessary. Probate is not necessary in certain circumstances, for example if the deceased’s estate is owned jointly with a spouse. Benefits of a Small Estate. 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