My loves one`s estate is small. Do I still need a grant?
Generally speaking you will need a grant even if your loved one`s estate is small. However, if your loved one’s estate just contains Bank or Building Society accounts, there may be some scope to administer the estate without a grant. If there is less than £15,000 in an account, some Banks and Building Societies will close the account after being provided with a copy of the Death Certificate. If this applies to you it is worth exploring this avenue first, before going to the trouble of applying for a grant.
You will need a grant if the estate includes any:
- Property held as tenants in common (We can help you determine this)
- Most business interests
Obtaining a grant may also help with reducing Inheritance Tax in the future.