Once Probate Has Been Granted What Happens Next
After a friend or loved one has passed away, the matter of their estate is one of the most prevalent concerns for those involved. This process can become even more complicated when it comes to the subject of contesting wills, and when the best time to approach this may be. Probate can be difficult to understand at the best of times – and once probate has been granted, what happens next? We take a closer look at this process, and how it may impact you if you wish to contest a will.
Once probate has been granted, what happens next?
The truth of the matter is that once probate has been granted, what happens next covers a variety of different steps that must be taken. If the deceased party has left a valid will, then their appointed executor will have applied for the grant of probate. This allows them to have full legal access to the estate of the testator, so that they can carry out whatever instructions have been written in the will, among other duties.
Handling bank accounts and similar holdings
The first steps after probate has been granted is for the executor to close any bank accounts or similar cash holdings, including dealing with shares, and cashing in any pension policies or life insurance policies that the testator had. This is the first step of administering the estate.
If the property and assets held by the deceased are not shared with the executor or another party, they will be sold as part of the process after a grant of probate. These combined holdings, including cash, shares and similar, all fall under the “estate” title.
Handling outstanding debts
Before any steps can be taken to carry out the wishes of the testator, any outstanding debts must be addressed and settled. In some cases, a notice will be put out in a local or national paper to make debtors aware of the death, giving them a set time frame to make a claim against the estate.
Distribution of the estate
The executor’s most important duty is to distribute the estate to those named in the will. While this is often a straightforward process, if the contents of the will have not been known beforehand, this can lead to wills being contested. Contesting a will after probate is more difficult than doing so before this step has been taken, with some grounds only being valid within six months of probate being granted.
How Will Claim can help
Once probate has been granted, it is much more challenging to contest a wall – so if you want to access support from experts in contesting wills, then the experts at Will Claim are here to help. We support clients across England and Wales, providing advice on will disputes and helping to handle cases, often on a no win no fee basis. Get in touch to arrange a free claim assessment and get advice on tracing a will, will validity, contesting a will after probate, and more.