Call Trudy Rogers on 01635 569670 | Email: info@rogers-legal.co.uk
Probate & Estate Administration
Small Estates
If the total value of the estate is below £5,000 then there is legislation in place to allow an estate to be administered without the need for a Grant of Probate or without obtaining Letters of Administration if there is no valid Will.
Most banks and building societies have their own rules regarding allowing access to funds by Executors and ‘next of kin’. However, if it is likely that you need to obtain a Grant of Probate or Letters of Administration at any time during the estate administration then you need to let the bank or building society know as they will want to see a Court copy of the document.
Broadly speaking if the deceased had the following assets then it is usually necessary to obtain either a Grant of Probate (with a valid Will) or Letters of Administration (without a valid Will):
- ISA (Individual Savings Account)
- Shares
- Bank account in excess of £5,000
- National Savings in excess of £5,000
- Foreign Shares
- Some life insurance policies (again usually large value policies)
Small estates are often best dealt with by ‘next of kin’ or family rather than instructing a professional. However, we are always happy to help and give guidance so please feel free call Trudy Rogers on 01635 569670 or email on Trudy.Rogers@rogers-legal.co.uk
