Whilst it’s not paid work, or a job, being an Executive or holding Grant of Probate over a will is a big responsibility. It involves a lot of work and legal duties. Whilst it can be complicated, it can nonetheless be very rewarding; something you could arguably put on your CV if you needed to prove your ability to act independently or follow procedures.
What is Probate?
Probate is, essentially, the legal authority to oversee and administer an estate. It’s not always needed, but it will be used whenever someone, such as a firm or bank affiliated with the estate in question, needs proof of your legal right to administer the property. There are two main ways to receive Probate:
If you are named as an Executor in the will of the deceased, you can receive Grant of Probate.
If there is no will, or there are no Executor’s outlined, you can still receive a Letter of Administration. As the name suggests, this offers you Probate or the right to administrate the estate.
As can be seen, it isn’t always easy getting Probate, yet nothing else can happen until the legal Executors and personal representatives of the deceased are named and formalised. As such, you may wish to seek additional assistance. Co-Op Probate, for instance, can help with more of the technical and legal facets of the process.
So what does someone do once given Grant of Probate? As already explained, such a role places you as an Executor, named to execute the will. This includes a number of steps, such as:
Getting a valuation of the estate. The estate cannot be divided or administered until it is properly, and fully, valued.
Using your Grant of Probate to access various parts of the estate, including property and other funds locked in with other firms and banks.
Administering the estate to those entitled. When there is a will, this is mostly outlined. In other cases, you have to follow rules of intestacy to determine who receives which portion of the estate.
Similar to Probate itself, this is not without its legal duties and difficulties; again, professional help and assistance is advisable to help you get through this process. None the less, acting as an Executor with Grant of Probate is a role that doesn’t happen often, but it is one that can gain you valuable experience and skills.
Whilst it’s not a form of employment, it is something you may wish to use in future job prospects. As such, you should not get doubts when Probate is issued, or fear the worst; with the right help and assistance, it can be a very valuable and rewarding experience.