The government announced it has more than halved the time it takes to approve digital probate applications in 2024 from 12 to just over four weeks.

Paper application waiting times were reduced from 22 to under 15 weeks.

This is good news, but it does relate to straightforward cases as more complex ones can take longer. Probate is often necessary when someone dies so their Will can be confirmed and the estate assets liquidated or transferred to the ultimate beneficiaries.

The increased performance is thanks to the government recruiting more staff to handle applications, however, the government’s claim that families, individuals, and charities will receive funds twice as quickly is misleading.

Aside from time spent waiting for the grant of probate, overall administration of a typical estate might take in the region of 9 months, so if grants of probate are issued in 1 month rather than 3, beneficiaries might expect to receive their inheritance in 10 rather than 12 months.

This would equate to the overall process taking 17% less time than it did before these improvements – it is not a 50% reduction! Other important steps are essential for a smooth, efficient, and swift probate experience.

Thinking ahead is crucial

Planning your family’s future ahead of time seems daunting but can be a positive experience with the right help.

Leaving your paperwork in good order before you die can make a tremendous difference in terms of avoiding delays, confusion and complications further down the line.

Practical steps to take

Accurate records of assets including shares, government bonds, and saving accounts together with account numbers are so helpful, as is keeping recent statements, passbooks, share certificates together with your most recent utility bills and house insurance paperwork etc in a safe place and letting your executors or other family members know where they are.

When you die, your executors will need to seek valuations on property and other valuables such as paintings or jewellery so if you have anything which you know to be valuable but which might not be obviously valuable to the untrained eye, tell your executors (leaving a note with your Will might be a good idea).

A clearly drafted Will is the cornerstone for carrying out an estate administration efficiently and, once again, key family members must know where you have stored this.

Gaining expert advice on this is worthwhile and will enable you to set your priorities (whether that be for simplicity or inheritance tax planning or protection for vulnerable beneficiaries).

How TWM can help

Expert advice for help before and after a death will reduce the potential burden and headache of administrating the estate when the time comes.

The practical help we can offer includes preparing inheritance tax returns, applying for a grant of probate, settling any income tax liabilities and setting up trusts created by the Will.

Making sure the liabilities are paid, searching for missing assets and overseeing the distribution of the net estate as well as preparing the final estate accounts for beneficiaries are also key tasks we can undertake.

If you would like to discuss how we can support you or your family, please do not hesitate to get in touch with our specialist Private Client team.