Probate
The legal process of dealing with the estate of someone who has died, including obtaining a Grant of Probate, paying debts and taxes, and distributing the remainder.
Probate involves valuing the estate, paying debts and Inheritance Tax, applying to the Probate Registry for a Grant of Probate (or Letters of Administration if there is no Will), collecting in assets, and distributing the residue to beneficiaries.
Not every estate needs probate. Small estates, estates held jointly, and estates without significant property may not require it.
The Grant of Probate is the court document that confirms the executor's authority to deal with the estate. Banks, building societies and the Land Registry require sight of it before releasing or transferring assets.