The Vault Private Client Guide to Probate: A Step-by-Step Overview

Dealing with the estate of a loved one can feel overwhelming. The probate process—necessary for administering someone’s estate after death—can be complex, especially if you’ve never dealt with it before. This guide, based on the Vault Private Client (VPC) team’s experience, offers a clear, step-by-step breakdown of probate in England and Wales.

What is Probate?

Probate is the legal process of proving a Will (if there is one), valuing the estate, paying any Inheritance Tax (IHT), and distributing the remaining assets. Whether the person died with a Will (testate) or without one (intestate), their estate needs to be properly managed by personal representatives (PRs)—either executors or administrators.

Step 1: Initial Actions After a Death

• Register the death within five days and obtain copies of the death certificate.
• Locate the Will (if any) and funeral plan. This will guide funeral arrangements and help identify the executor.
• Secure the estate: Ensure property is insured and utilities updated. Executors can be liable if assets are left unprotected.
• Notify third parties such as banks, utility providers, insurers, and pension providers.

Step 2: Valuing the Estate

• Identify and value all assets—property, investments, bank accounts, digital assets, and personal belongings.
• Obtain formal valuations for high-value or complex assets like businesses or agricultural land.
• Conduct an asset search, especially if the deceased managed finances privately.
• Identify all debts and liabilities to ensure they are included in the HMRC return.

Step 3: Tax Reporting and Probate Application

• Complete the Inheritance Tax return (IHT400) even if no tax is due (unless it’s an excepted estate).
• Settle any IHT within six months of the death to avoid interest charges.
• Apply for the Grant of Probate (if a Will exists) or Letters of Administration (if there isn’t one). This grants legal authority to manage the estate.

Step 4: Administering the Estate

• Use the grant to access and liquidate assets.
• Settle all debts and administrative costs.
• Distribute the estate according to the Will or intestacy rules.
• Maintain records and prepare final estate accounts for transparency.

When to Seek Legal Advice

• Complex estates (business interests, foreign assets, trusts).
• Disputes or claims from beneficiaries or dependents.
• Unclear or missing Wills.
• High-value estates liable to Inheritance Tax.

Final Thoughts

Probate doesn’t have to be daunting. With the right guidance, executors can navigate the process confidently and ensure that the deceased’s wishes are honoured.

A note from Insuristic

Working with an SRA-regulated solicitor who specialises in probate is a smart move if you’re concerned about your liability as an executor or administrator. Here’s why:

• As a private individual, you cannot insure yourself against errors or omissions. Solicitors can.
• Whether or not you appoint a solicitor, you remain liable for losses to beneficiaries due to a lack of insurance protection or claims from third parties, just as the solicitor may be.

To help you understand and manage these risks, explore the following guides:

• Arranging executor home insurance
• Executor Insurance Guide – Learn about the types of probate insurance policies available.

More questions?

• [Back to our Probate FAQ Page]
• [Visit our Probate Insurance FAQs page]

This article provides general information only and should not be taken as legal advice. For specific probate guidance, please consult a qualified probate solicitor. Find a Probate Solicitor here.

Don’t Overlook the Risk of a Contentious Probate Claim, or Miss the Warning Signs

As an executor or administrator, you can be personally liable for defending claims and covering losses if you don’t have Probate Insurance, even when the claim is made against the estate, not directly against you.

Contentious probate isn’t limited to courtroom battles; it often begins with disagreements over who inherits, how the estate is handled, or whether the Will is valid.

These situations may involve someone being left out of the Will, a dispute over how much someone should receive, concerns about how the Will was created, or confusion when no Will exists. Claims under the Inheritance (Provision for Family and Dependants) Act 1975 are particularly common.

Such disputes can delay the probate process, increase costs, and expose executors to personal liability. It’s far better to identify and address potential risks early, before they escalate.

Arrange a FREE consultation with a Contentious Probate Solicitor.
They’ll assess your situation, confirm whether a claim is unlikely (which may help you qualify for Early Distribution Insurance), or provide expert guidance on how to protect both yourself and the estate.

Book Your Free Consultation