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Ward Williams Chartered Accountants
21/02/2024
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How long after Probate is granted does it take to receive inheritance?
Once a Grant of Probate has been issued, you may expect to receive your money quickly if you have been in line to inherit. However, this can vary greatly due to the complexity of the estate, and the possibility of the Will being contested, as well as more personal delays such as the Executors fitting this process around their lives. For an estate which has not got any property assets to be sold and only one bank account, it is possible that you will receive your inheritance in around six months. It is worth noting, though, that few estates are this simple.
The standard timeframe
The Probate process takes around a year on average, from the date of the person's death to the estate being distributed. It may take less time, but even simple estates usually take a minimum of six months to complete probate. This will give time to close any bank accounts, sell shares or transfer them, and sell or transfer any property assets left by the deceased. The Grant of Probate must be attained before these steps can be actioned, and the more varied assets the deceased held, the longer this can take. Some of the most complex estates can take many years to complete, which means the inheritors could be waiting much longer for their money than expected.
Further complications
As well as the potential for a Will to be contested, other complications which delay money being issued can include needing to locate difficult-to-find beneficiaries and selling any foreign property or other assets. In some cases, the estate may even be investigated if the person who passed away had a life insurance policy, or they are believed to have received a benefits overpayment.
Contesting a Will after Probate has been granted
Making a claim after Probate is possible, though this is much more complicated than doing so beforehand. There are stricter time limits on contesting a Will once a Grant of Probate has been issued, and you must have good grounds for contesting the Will. At this point, it is essential to seek legal advice to discuss your reasons to contest a Will and how to proceed with this challenge to the Executor of the estate.
For further information on Ward Williams Services and/or advice on Probate or Wills please contact Dipesh Parmar on 01932 830664 or Dipesh.parmar@wardwilliams.co.uk
