When you receive inheritance money in the UK, a process called probate must take place.

While learning you are due to receive an inheritance is an incredibly fortunate position to be in, it’s often accompanied by grief, confusing legal processes, and unexpected delays that can make you question what is going on.

At Provira, we see this every day. So we’ve drawn together this useful guide to simplify the complexities surrounding one of the most unique moments in your life. 

What is the process of receiving an inheritance in the UK? 

The process of receiving an inheritance in the UK is called probate. Probate is essentially the legal term applied to the administrative sorting of someone’s estate. 

It can take time and be confusing to understand, particularly if you’re waiting to receive an inheritance.

This process is completed by the executors of the estate. It is made up of multiple, complex steps that can extend the timeline of when you receive your inheritance depending on how simple the estate is to sort.

Step 1: Filing a petition

The executors will need to file a petition in court to request to admit the will, formally be appointed as an executor on behalf of the estate, and officially launch the probate process.

Step 2: Reviewing and preparing the estate

The executors register the death, gather relevant documents such as the will and death certificate and a valuation of the total estate begins, including all assets and debts. 

This is one of the biggest parts of paperwork as it involves reaching out to banks, pension providers and any other organisations that could contribute to the total value of the estate.  

Step 3: Pay Inheritance Tax

This is a particularly important moment for executors. HMRC has a 6-month deadline from date of death for when the payment must be received, and it is required for probate to be completed.

It can be the case that estates do not immediately have the funds to cover the cost of IHT. 

This is most commonly due to all the required funds being tied up in the estate, and no funds are able to be released until probate has been granted.

As an executor this can be incredibly stressful as it can cause delays and put the estate at risk of being charged interest from HMRC.

At Provira, we understand the burden this can be. That’s why our Estate Advance can offer you a simple way forward, giving you access to up to 50% of the total estate value within just a few days, removing any delays in the probate process. 

Find out more about our Estate Advance here.

Step 4: Applying for probate

At this stage, all the information has been gathered, the estate has been valued, and all the required application forms begin to be filled out.

If there is a will, the application form that must be filled out is called PA1P.

If there is no will, this will be an application for letters of administration and the form to fill out is called PA1A. 

Both applications can be done via GOV.UK or by post. If the value of the estate is over £5,000, a fee of £300 will need to be paid. There’s no fee for estates valued below £5,000.

Depending on how complex the estate is, this part of the process is normally a case of waiting for probate to be granted.

Step 5: Estate administration

Once probate has been granted, the executor has the authority to manage and distribute the estate. This includes closing down bank accounts, selling assets (if necessary) such as property or shares, and paying off debts or taxes owed by the estate.

Step 6: Beneficiary distribution

After all of these steps have taken place, beneficiaries will be informed when they are receiving their inheritance money. As this is the final step and occurs after actions like selling a property, it can often take between 6 and 12 months to receive your inheritance money.

If you are due to receive an inheritance and are stuck in a lengthy probate process, our Inheritance Advance could bring you some relief. 

It gives you access to up to 50% of your inheritance early, takes just a few days, and there’s no need for credit checks or putting down personal assets as collateral. 

Find out more about our Inheritance Advance it here

How long does it take for inheritance money to come through in the UK?

It can take anywhere from 6-12 months, often longer, for inheritance money to come through in the UK. This is due to the fact that beneficiaries only receive inheritance money in the UK after the lengthy probate process has been completed.

What can delay receiving inheritance money in the UK?

As there are multiple steps to receiving inheritance money in the UK, delays are inevitable and can happen at any point. Common delays are:

Selling property. 

As with the sale of any property, this all depends on the market, how long it takes to find a buyer, and the steps that come with it such as conveyancing.

Foreign assets. 

Perhaps unsurprisingly, foreign assets can take more time to sort out in the probate process. This can be delayed even more if there is foreign property as it will require more representatives such as lawyers and estate agents being involved.

Settling Disputes

Wills are able to be contested based on its validity or in the case that beneficiaries consider it unfair. These disputes can sometimes take years to resolve, leaving beneficiaries in a bit of a limbo until they receive their inheritance.

Missing paperwork or beneficiaries

If key documents are lost or if the executor struggles to locate beneficiaries, this can set back the probate process as it won’t be able to proceed until they’re found or the situation is resolved.

How Provira can help when waiting for inheritance money in the UK

While receiving an inheritance is an exciting moment, it can be a lengthy process. This can become particularly stressful if you’re facing financial pressures. 

That’s why, at Provira, our Inheritance Advance is designed to offer a fast financial solution. 

With Provira’s Inheritance Advance, you can access up to 50% of your inheritance within a few days. We promise: 

• No need to wait for probate to finish
• No credit checks
• No compound interest payments, only simple interest
• No monthly repayments
• No need to put down any collateral 

You don’t even need to worry about paying it back, as repayment is made directly from the estate once funds are released.

We’re here to make this stressful time a little easier.

If you’re waiting on inheritance and need access to it soon, speak to the team about an Inheritance Advance here.