• Most beneficiaries wait 6 to 12 months to receive their inheritance money, though very simple estates can sometimes be settled in 2 to 3 months.
• The wait mostly comes down to probate being granted, assets being valued and sold, and any Inheritance Tax being settled first.
• If you need money before all of that is finished, Provira’s Inheritance Advance can release part of your inheritance early.

Most beneficiaries in the UK receive their inheritance once probate has been granted and the estate has been settled, and that usually takes between 6 and 12 months from the date of death.

That’s a long time to wait, especially if you already have plans for the money or need it for something specific. 

If you need your inheritance sooner,Provira’s Inheritance Advance can give you access to up to 50% of your expected inheritance within days. There are no monthly repayments, no personal guarantees and no early repayment fees.

Start your application today.

How long does it take to get your inheritance?

Most beneficiaries wait somewhere between 6 and 12 months to receive their inheritance, counted from the date of death. If the estate is small with no property and only a few assets, it can potentially be settled in 2 to 3 months, though this is the exception rather than the rule.

A small estate with a couple of bank accounts is obviously going to be quicker to deal with than one involving a house, shares and assets overseas. Even tracking down paperwork or getting valuations back can hold things up.

What has to happen before your inheritance can be paid out?

There’s quite a lot the executor has to get through before beneficiaries can be paid their inheritance. The estate needs to be valued, any tax and debts paid, probate granted and, in many cases, assets sold. 

There are situations wherecash can be released during probate, including for some estate expenses, but beneficiaries will usually need to wait until much later in the process to get their inheritance.

Generally, the process looks something like this:

Applying for probate or letters of administration

Timeframe: A few weeks to a few months.

The executor named in the will has to apply for a Grant of Probate before they have the legal authority to deal with the estate. If there’s no will, someone applies for letters of administration instead, which does the same job under the rules of intestacy.

Valuing the estate

Timeframe: A few weeks.

Every asset in the estate has to be valued, including property, savings, shares and personal possessions. HMRC needs this figure to work out whether any Inheritance Tax is owed, and the more assets there are, the longer this can take.

Paying any Inheritance Tax that’s due

Timeframe: a few weeks, but longer if the tax position is complicated or the executor does not have the cash available to pay.

Any Inheritance Tax due normally needs to be paid, or a payment arrangement agreed with HMRC, before probate can move forward.

This isn’t always the full bill upfront. Certain assets, including property, can qualify for paying the tax in instalments rather than in one go.

This stage can still be awkward for executors, though, because the money needed to pay any tax can be tied up in assets that can’t be sold until probate is granted.

Collecting and selling assets

Timeframe: a few weeks to a few months, depending on the assets involved. Property, for example, could take up to a year in a slow market.

Once probate is granted, the executor can start collecting and selling assets. Bank accounts are usually faster to access, but property and shares can take longer to sell, especially if the market is slow.

Allowing time for any claims against the estate

Timeframe: a few weeks to a few months.

Executors will also allow time for any new debts or claims against the estate to come forward. They can be personally liable for payment if they distribute the money and a claim appears after, so there’s good reason not to pay everything out too quickly.

How long does probate itself take?

Probate itself normally takes a few months once the application has gone in, though the exact time depends on how complicated the estate is and how busy the Probate Registry happens to be at the time.

We’ve covered this in more detail, including what tends to slow it down, in ourfull guide to how long probate takes.

How long after probate will you actually receive the money?

Getting the Grant of Probate doesn’t mean beneficiaries are paid straight away. The executor may still need to collect money from bank accounts, sell property or other assets, settle outstanding debts and work out exactly what each beneficiary is due.

A house can keep things going for much longer. The executor might have the grant in their hands, but if there’s still a property to sell, the estate may not have the cash available to pay everyone yet.

Once everything has been sold and the remaining bills are paid, the executor can work out what’s left and distribute it.

Does having a will change how long it takes?

Having a will can make the process faster, mainly because it’s already clear who the executor is and who should inherit what.

Without a will, an administrator needs to be appointed and the estate distributed under the rules of intestacy, which can add more work to the process.

Our guide onwho inherits an estate when there’s no will covers this in more detail.

Can you receive your inheritance before the estate is settled?

If you need access to some of your inheritance before the estate is ready to pay beneficiaries, Provira’s Inheritance Advance is another option.

Provira’s Inheritance Advance lets beneficiaries access up to 50% of their expected inheritance before the full estate is settled, sometimes before probate has even been granted.

With an Inheritance Advance:

• There are no monthly repayments to make while you wait.
• There’s no personal guarantee and no charge over your own home.
• There are no early repayment fees if the estate settles sooner than expected.
• Interest is charged as simple interest, rather than compound interest, and repaid directly from your inheritance once it’s released.

If you’ve already been waiting longer than expected, our guide onwhy your inheritance might be taking longer than expected covers the things that may cause delays and what you can actually do about them.

How Provira can help you access your inheritance sooner

If you’re counting on your inheritance to clear a debt, help with a deposit or cover rent while you wait, a year can feel like a very long time.

Provira’s Inheritance Advance can give you access to up to 50% of your expected inheritance before the estate is ready to pay it out.

Our team can explain how an Inheritance Advance would work in your situation, what it would cost and how much you may be able to access before you decide whether to go ahead.

If you’d like to know how quickly funds can actually reach you once you apply, we’ve covered that separately inhow long it takes to receive an Inheritance Advance.

Find out if you’re eligible for an Inheritance Advance today.