You will probably not have to apply for Probate if any one of these conditions apply to the estate:
- Joint assets Only: If the estate is worth less than £1 million and is being passed to a spouse, civil partner, or charity
- Less than £5,000: The value of everything that the deceased owned in their own name is worth less than £5,000: or
- There were only savings and no other assets such as property, vehicles etc.
Provided that you are either named as an Executor, or you have permission from the other next of kin, you can distribute the assets according to the wishes of the deceased.
Sometimes financial services firms will insist that you apply for probate before allowing you to access funds . This will depend on the value of the account and ranges from £5,000 – £50,000 by provider. Settld can check with individual providers on your behalf as part of our service.