The Top 10 Most Common Mistakes in UK Probate Applications

6 July 2023

Jan Friend

Probate

Probate applications can be complex and time-consuming, especially for those who are unfamiliar with the process.

Mistakes in the Probate Application process

Making mistakes during the probate application can lead to significant delays, increased costs, and unnecessary stress for all parties involved.

To help you navigate this often-overwhelming process, we have compiled a list of the ten most common mistakes in UK probate applications.

By being aware of these pitfalls, you can ensure a smoother probate process and a quicker resolution.

1. Incomplete or Incorrect Probate Application Forms.

Filling out the probate application forms accurately and completely is crucial. Errors such as missing information, incorrect dates, or incomplete details can lead to unnecessary delays or rejection of the application. It is essential to carefully review and double-check all forms before submitting them.

2. Failure to Gather Sufficient Documentation

Probate applications require various supporting documents, including the original will, death certificate, asset valuations, and more. Neglecting to gather all the necessary documents can prolong the process and lead to additional queries from the Probate Registry. Thoroughly researching the required documentation and ensuring you have everything in order is vital.

3. Errors in Valuing the Estate

Accurately valuing the estate is crucial for determining the correct inheritance tax liability and ensuring the correct probate fees are paid. Mistakes in valuation can result in overpayment or underpayment of taxes, leading to complications during the application process. Seeking professional assistance from an experienced valuer or accountant can help prevent valuation errors.

4. Incorrect Payment of Inheritance Tax

Failing to pay the correct amount of inheritance tax or missing the payment deadline can lead to penalties and delays. Inheritance tax calculations can be complex, and it is advisable to consult a tax specialist or accountant to ensure accurate calculations and timely payments.

5. Neglecting to Notify Relevant Institutions

Failing to inform financial institutions, such as banks and insurance companies, of the deceased’s passing can cause problems during the probate process. This can result in delays in accessing and distributing assets. It is important to notify all relevant organizations promptly to avoid complications.

6. Incorrect Beneficiary Information

Problems can arise if beneficiary information is inaccurate or incomplete. Ensure that all beneficiaries’ names, addresses, and contact details are correct to avoid any delays or disputes during the distribution of assets.

7. Inadequate Executor or Administrator Appointment

Appointing the wrong person or failing to appoint an executor or administrator can create significant issues. Executors or administrators are responsible for managing the estate and ensuring the probate process proceeds smoothly. Choosing someone who is trustworthy, organized, and capable is crucial.

8. Inaccurate Residue Calculations

Determining the residue of the estate, which is what remains after debts, taxes, and specific gifts have been paid, can be complex. Errors in residue calculations can result in inequitable distribution of assets among beneficiaries. Seeking professional advice or consulting us can help ensure accurate residue calculations.

9. Failure to Advertise for Unknown Creditors

When applying for probate, it is important to advertise for unknown creditors in case the deceased had any outstanding debts. Neglecting to do so can result in unexpected claims against the estate later on. Adhering to the required advertisement procedures is crucial to safeguard the estate from such claims.

10. Not Seeking Professional Advice

Navigating the probate process can be overwhelming and attempting to handle it without professional guidance can lead to costly mistakes. Engaging the services of a qualified probate specialist can provide invaluable assistance, ensuring that all legal requirements are met and the process proceeds smoothly.

For a successful Probate Application

Avoiding common mistakes during the UK probate application process is essential for a timely and efficient resolution.

By being aware of the potential pitfalls and taking the necessary precautions, you can minimize delays, reduce stress, and ensure a successful probate application.

Seek professional advice when needed, gather all required documents, and carefully review and double-check all forms before submission.

With careful attention to detail and proper guidance, you can navigate the probate process with confidence and ease.

Assistance with your Probate Application

If all this is just too much for you then why not give us a call and we can take the stress out of things by preparing your probate application.

We are regulated to carry out probate work by the Institute of Chartered Accountants in England & Wales and have seen the demand for our services increase significantly over the years.

We have an experienced team led by Jan Friend with a reputation for an extremely efficient service turning around probate applications in weeks rather than months, most importantly our service is bespoke to you.

So if you are looking for a caring and efficient services then please contact us.