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How Long Does it Take to Get Inheritance Money after Probate Has Been Granted

It is very common for people to not know the meaning of probate, particularly if they have never had to deal with a deceased relativeu2019s estate before. Probate is the entire legal and financial process of administering the deceasedu2019s estate. This involves organising their money, assets and possessions and distributing them as inheritance, after paying any taxes and debts. If the deceased has left a Will, it will name someone that they've chosen to administer their estate (an executor).<br>

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How Long Does it Take to Get Inheritance Money after Probate Has Been Granted

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  1. How Long Does it Take to Get Inheritance Money after Probate Has Been Granted? What is Probate? It is very common for people to not know the meaning of probate, particularly if they have never had to deal with a deceased relative’s estate before. Probate is the entire legal and financial process of administering the deceased’s estate. This involves organising their money, assets and possessions and distributing them as inheritance, after paying any taxes and debts. If the deceased has left a Will, it will name someone that they've chosen to administer their estate (an executor).

  2. The meaning of probate and whether it is necessary is often confusing, particularly if there is no Will. Sometimes it will be easy to determine – for instance, if the deceased person had a small amount of money in the bank and owned nothing else, probate is unlikely to be needed. But if the deceased owned a property, or had multiple high value assets, probate will be required. How long after probate is granted does it take to receive inheritance?

  3. After probate has been granted, the beneficiary wants to know how long after probate is granted does it take to receive inheritance? The general timeline for probate is three to ten weeks. However, the following can help the process: ● Apply for grant of probate as soon as possible. ● The quicker the executor(s) or administrator swears an oath that the information in the probate application is correct, the quicker the grant of probate. ● If possible, pay any inheritance tax as soon as possible as this will also speed up the probate process. If this is not possible, contact HMRC straight away as they may be able to defer payment until the estate is settled. ● At the same time as applying for grant of probate, collect and get a valuation on the estate’s assets, particularly if there is property involved.

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