Hi, I’ve been appointed as Executor for a person with a very small gross Estate of just under £25,000. There are just three bank accounts, all with the same bank and they have said that they are happy to discharge the funds without the need for Grant of Probate. My question is, “Do I still need to apply for Probate, even though this is not required to collect in the cash deposits?”
Please note, these cash deposits plus a few hundred pounds for personal possessions are the sum total of the individual’s worth.
Many thanks
Hi, and thanks for your question. It is NOT mandatory to obtain Probate. It is only needed if (a) the estate is not ‘Excepted’ (eg IHT is payable), or (b) if asset holders are insisting on seeing it to release funds. Hope that helps – and thanks again for reaching out to QLAW!
