Probate
What is probate?
‘Probate’ is the legal process required when a person has died. The executors require what is known as a Grant of Probate before being able to deal with the estate. The deceased’s estate will be frozen until probate is granted, including bank accounts, investments etc. The Probate process also legally validates the Will.
Probate may not be required where estates are worth less than £5,000, however financial institutions do differ and it would rely upon their discretion.