Probate or Letters of Administration

[Kayjo]

I just wonder if anyone can give me any information about what the difference is between Probate and letters of administration?

I do understand that if a deceased's accounts has only a small amount of money in (1k),then formal probate isn't needed and it's letters of administration and if a significant amount is in the account - ie £50k then Probate is necessary, but what is the difference.

Is Probate more labour intensive? And if so, how?

Any advice gratefully received

 

[Neveradullday!]

Hi @Kayjo - the difference is a grant of probate is issued when there is a will (to named executor(s)). Letters of Administration are issued when there is no will, according to the rules of intestacy (ie who gets the estate if no will - next of kin(s)).

 

[nitram]

An executor is appointed in the will and has legal power to administer the deceased's estate.
If there is not an executor the same power can be obtained by applying for and being granted 'letters of administration'.
The work involved with both powers is the same.

Probate proves the will, making it a legal document listing the deceased's wishes, it may not be required. most banks will hand over fairly large amounts on sight of death certificate and proof of being an executor or holding 'letters of administration' provided an indemnity is signed.

Insurance companies and bond issuers may not be so lenient.

 

[Kayjo]

Hi @Kayjo - the difference is a grant of probate is issued when there is a will (to named executor(s)). Letters of Administration are issued when there is no will, according to the rules of intestacy (ie who gets the estate if no will - next of kin(s)).

Thank you for your reply

 

[Kayjo]

An executor is appointed in the will and has legal power to administer the deceased's estate.
If there is not an executor the same power can be obtained by applying for and being granted 'letters of administration'.
The work involved with both powers is the same.

Probate proves the will, making it a legal document listing the deceased's wishes, it may not be required. most banks will hand over fairly large amounts on sight of death certificate and proof of being an executor or holding 'letters of administration' provided an indemnity is signed.

Insurance companies and bond issuers may not be so lenient.

Thank you for your reply. So I'm right in thinking that if the money is of a very small amount we may not need to do probate? Do you not have to file anything with the government? (Sorry new to all of this so it's a bit of minefield).

 

[nitram]

So I'm right in thinking that if the money is of a very small amount we may not need to do probate?

Correct

Do you not have to file anything with the government?

https://www.gov.uk/probate-estate/reporting-the-estate#:~:text=Reporting on 'simple' estates,million when the person died .

Go to CAB or AgeUK if confused.

 

[nitram]

HMRC guidance to banks on paying out with death certificate and no probate.

https://www.gov.uk/hmrc-internal-ma...y only applies where,should not exceed £5,000. .