Why is my inheritance taking so long?

Your inheritance is taking so long due to the many legal steps you have to complete when someone dies.

The probate process of administering an estate can take between 6-12 months, often longer if the estate is particularly complex.

At Provira, we know the wait for an inheritance can be emotionally exhausting. With confusing legal processes and a lot of unknowns coming along at a difficult time in your life, it can seem endless.

That’s why our Inheritance Advance is designed to help beneficiaries move forward, offering access to up to 50% of their inheritance within weeks.

To find out more about our Inheritance Advance, click here

How long should it take to receive an inheritance?

It should take between 6-12 months from the date of death to receive an inheritance, though sometimes it can take longer if there are administrative delays in the probate process.

The probate process is made up of many steps and delays can happen at any moment.

In less common cases where the estate is very simple and there are minimal assets – for example, there are no properties or overseas assets – beneficiaries can hope to receive their inheritance very quickly. Sometimes as soon as 2-3 months from the date of death.

However, in most cases, it’s not unusual to be waiting over 6 months while the estate works through all the different elements of the administration.

Essentially, the larger and more complicated the estate, the longer beneficiaries have to wait for everything to be resolved.

Why does probate take so long?

Strict legal requirements, complicated estates, or executors facing specific administrative challenges are the most common delays that prevent the probate process from moving forward.

Key reasons for probate delays are:

Legal Stepping Stones

Standard procedures such as court validation of the will and a legally required waiting period for any unforeseen debts to appear can delay probate. Gaining approvals from HMRC can also often take a chunk of time. There are often backlogs in processing forms, meaning vital documentation needed to complete probate, such as the Inheritance Tax receipt, takes a while to be provided.

Also, as Inheritance Tax must be paid before probate can be completed, issues with not being able to pay this off can delay the entire process significantly as executors spend valuable time attempting to source the funds to cover it.

Read our guide to find out more about what to do if you can’t pay an Inheritance Tax bill.

Complex Estates

As with any process, the fewer steps there are, the quicker it is to resolve. Any additional element such as having multiple businesses, bank accounts or overseas assets, can add time to the waiting period. In particular, if there are properties involved and you’re waiting for them to
be sold, this can significantly impact why your inheritance is taking so long.

Administrative Road Blocks

While addressing each step and element takes time in itself, unexpected challenges often contribute to delays in inheritances being distributed. Missing beneficiaries, inexperienced executors, or will disputes can all cause their own administrative problems, with disputes sometimes taking years to resolve.

These delays are often why beneficiaries are left wondering why their inheritance is taking so long. At Provira, we meet people in this limbo every day.

That’s why our Inheritance Advance is designed to provide a simple way forward for beneficiaries.

With our Inheritance Advance, you can access up to 50% of your inheritance within just a few days. We only charge simple interest, not compound interest, saving you money in the long term. Plus, with no monthly repayments or early repayment fees, and a supportive member of our team dedicated to guiding you every step of the way, you won’t have to worry about a thing.

Reach out to us today to start your application, it takes just a few minutes.

How long does the executor have to pay the beneficiaries?

The executor has as long as the estate takes to administer to pay the beneficiaries. The aim is usually within 6-12 months from the date of death but, based on the complexity of the estate, it can take longer.

Before they pay the beneficiaries, they have 6 months from the date of death to pay Inheritance Tax and any other estate debts. Only then can they pay out the inheritance.

There is also a priority order in which the executor pays the beneficiaries. This order of distribution is decided by the type of gift each beneficiary will receive.

This is split into:

Specific beneficiaries.

These beneficiaries will receive named items such as jewellery or furniture. They often receive their inheritance earlier as they’re not dependent on
final estate calculations.

General beneficiaries.

This term is given to beneficiaries who are to receive a specific amount of money. The wait for this type of inheritance depends on how long the probate
process takes, typically 6-12 months, as probate must be granted before funds can be released by the estate.

The final amount they receive can also be affected by the amount of money left in the estate after probate is complete. For example, if an estate has
a lot of debt, funds will be used to pay this off before being distributed to beneficiaries.

Residuary beneficiaries.

As with general beneficiaries, residuary beneficiaries receive their inheritance when probate is over. As the name suggests, they will receive the remaining funds available from the estate. Their inheritances are the most at risk of being impacted if the estate has to settle large debts.

How Provira can help when your inheritance is taking so long

Receiving an inheritance should be an exciting time in your life, but it’s often accompanied by stress and confusion, particularly if you’re under financial pressure.

Through our Inheritance Advance, Provira offers a simple, speedy solution, allowing you to access up to 50% of your inheritance within just a few days.

Taking out our Inheritance Loan means:

• 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

We even relieve the stress of paying the loan back, as repayment is provided directly from the estate as soon as the funds are released.

Waiting on an inheritance and need it soon? Speak to our team about an Inheritance Advance here.