What to do before applying for probate and paying Inheritance Tax

Key steps before applying for probate

Written by Eliza, Bereavement Adviser at Octopus Legacy. Last updated: March 2026.

Before you apply for probate, there's groundwork to do. You need to find the will, build a picture of the estate, and work out whether inheritance tax is due.

This can feel like a lot. But taking it step by step makes it manageable, and getting it right now saves problems later. This guide walks you through what to do and in what order.

Step 1: Find the will

The first thing to establish is whether the person who died left a valid will. The will tells you:

• Who the executors are (the people responsible for carrying out their wishes)
• How they wanted their estate divided
• Any specific gifts of property, money, or possessions
• Whether there are any trusts
• Their funeral wishes (though these aren't legally binding)

Where to look for a will

• Their home: check filing cabinets, safes, and important papers
• Their solicitor, accountant, or financial adviser
• Their bank (some banks hold wills in safe custody)
• The National Will Register — a searchable database of registered wills
• The Probate Registry: if a previous will was registered during an earlier probate
• Will storage services (some will-writing companies offer secure storage)
• Family and close friends: they may know where it's kept

What makes a will valid?

For a will to be valid in England and Wales under the Wills Act 1837, it must be:

• In writing
• Signed by the person making the will (the testator)
• Signed in the presence of two independent witnesses, both aged 18 or over
• Both witnesses must have been present at the same time when the testator signed

If the will is unsigned, or if a beneficiary acted as a witness, it may not be valid. If you're unsure, get legal advice before proceeding.

What if there's no valid will?

If there's no valid will, the person died "intestate." The estate will be divided according to the rules of intestacy, the government's default rules for who inherits.

Under intestacy rules, the surviving spouse or civil partner receives the first £322,000 (the statutory legacy, updated July 2023), plus all personal possessions and half of the remaining estate. Children receive the other half. If there's no spouse or children, the estate passes to other relatives in a set order.

Unmarried partners, stepchildren, and close friends receive nothing under intestacy, regardless of how long they lived together. This is one of the strongest reasons to write a will.

Find out more about what happens if you die without a will.

Step 2: Identify the assets

To apply for probate, you need a full picture of everything the deceased owned. This is used to value the estate, determine whether inheritance tax is due, and complete the probate application.

What counts as an asset?

Don't forget joint assets. Assets held jointly need to be included. How they're treated depends on how they were owned — joint tenancy (passes automatically to the survivor) or tenants in common (the deceased's share forms part of the estate).

Gifts made in the last 7 years

Any gifts the deceased made in the seven years before they died may be subject to inheritance tax. This includes cash gifts, property transfers, and gifts into trust. You'll need to identify these for the IHT forms.

Gifts under the annual exemption (£3,000 per year), small gifts (up to £250 per person), and wedding gifts within certain limits are usually exempt.

Where to start looking

A good starting point is their paperwork at home. Check bank statements going back 12 months to see what was coming in and going out. Look at bank cards, post, and any correspondence from financial institutions.

Check their email too. Many accounts are now paperless, so statements and policy documents may only exist digitally.

Don't forget to notify organisations of the death as you go — this also helps you identify accounts you didn't know about.

Step 3: Identify the debts

The estate also includes everything the person owed. You need a full picture of debts to calculate the net estate value.

Common debts include:

• Mortgage or equity release
• Credit cards and store cards
• Personal loans and overdrafts
• Utility bills and council tax arrears
• Care home fees
• Funeral costs
• Income tax owed to HMRC
• Any other outstanding bills

Place a Section 27 notice in The Gazette and a local newspaper to give creditors at least two months to come forward. This protects the executor from personal liability for unknown debts.

Step 4: Value the estate

Once you've identified all assets and debts, you need to value them. This is required for the probate application and to determine whether inheritance tax is due.

How to value different assets

Property: Get a professional valuation from an estate agent or surveyor. HMRC may challenge the value, so it's important to get an accurate market valuation at the date of death — not what the property was bought for.

Bank accounts: Contact each bank for the balance on the date of death. They'll provide a written confirmation.

Investments: Contact the broker, fund manager, or NS&I for valuations as at the date of death.

Personal possessions: Items worth over £500 individually should be valued by a professional. For everyday household items, a reasonable estimate is acceptable.

Jointly owned assets: Only the deceased's share needs to be included. For joint tenancy property, you still need to report the value on IHT forms even though it passes automatically to the survivor.

Step 5: Work out if inheritance tax is due

Inheritance tax (IHT) is charged at 40% on the value of the estate above the tax-free thresholds. Not every estate pays IHT — in fact, only around 4% of UK estates are subject to it.

Current IHT thresholds (2026/27)

Do you need to pay IHT?

If the total estate value (after deducting debts and liabilities) is below the available threshold, no IHT is due. You'll still need to declare the estate's value, but you may be able to use a simplified IHT form.

If IHT is due, it must be paid within 6 months of the date of death to avoid interest charges. Some IHT can be paid in instalments — for example, the tax on property can be spread over 10 years.

IHT forms

The form you need depends on the estate's value and complexity:

• IHT205 (or the online equivalent): For estates below the IHT threshold with no tax to pay
• IHT400: For estates where IHT is due, or where the estate exceeds the thresholds but is exempt (for example, because everything passes to a spouse)

Important note: IHT rules can be complex, particularly for estates involving trusts, business assets, agricultural property, or foreign assets. If you're unsure, consider getting professional advice.

Step 6: Apply for probate

Once you've valued the estate and dealt with any IHT, you're ready to apply for the Grant of Probate (or Grant of Letters of Administration if there's no will).

What you'll need to apply

• The original will (if there is one)
• The death certificate
• Completed IHT forms
• The probate application fee: £300 for estates over £5,000 (no fee for estates under £5,000)
• Additional certified copies of the grant cost £16 each — order several, as banks and other organisations will need to see one

How to apply

You can apply online at GOV.UK or by post. Online applications are faster.

How long does it take?

Processing times vary by region and estate complexity. Simple estates may be faster. Estates with business interests, overseas assets, or IHT investigations can take significantly longer.

Do you even need probate?

Not every estate requires probate. You may not need it if:

• The estate is worth less than £5,000
• All assets were held jointly and pass automatically to the survivor
• All assets are held in trust
• Some banks and building societies release funds under a certain threshold without probate (typically £5,000 to £50,000, each institution sets its own limit)

If you're unsure, the simplest way to find out is to contact the organisations holding the assets and ask whether they require a Grant of Probate.

How Octopus Legacy can help

The steps before probate can be time-consuming and stressful, especially during bereavement. Our probate service can help at whatever stage you need support.

Grant of Probate service includes help with:

• Working out what inheritance tax is due
• Completing the IHT forms
• Applying for the Grant of Probate
• Delivering the grant to you

Full Estate Administration includes everything above, plus:

• Dealing with banks, energy companies, HMRC, and all other organisations
• Gathering all money and assets
• Paying creditors from the estate
• Helping to organise a property sale (if needed)
• Drafting estate accounts
• Distributing the estate to beneficiaries

Speak to one of our probate experts for free.

What are the key steps before applying for probate?

The key steps are: find the will, identify all assets, identify all debts, value the estate, determine whether inheritance tax is due, and then apply. Taking these steps in order ensures the application is accurate and avoids delays.

How much is the inheritance tax threshold in 2026?

The nil-rate band is £325,000 and the residence nil-rate band is £175,000. This gives a combined individual threshold of £500,000 for qualifying estates. Married couples and civil partners can combine allowances for up to £1,000,000. Both thresholds are frozen until April 2030. IHT is charged at 40% above these thresholds.

How much does it cost to apply for probate?

The probate application fee is £300 for estates over £5,000. There's no fee for smaller estates. Additional certified copies of the grant cost £16 each. You may be able to get help with the fee if you're on a low income or certain benefits.

How long does it take to get a Grant of Probate?

Online applications typically take 4 to 8 weeks. Paper applications take 8 to 16 weeks. The full estate administration process usually takes 9 to 18 months from death to final distribution.

Do I need probate if the estate is small?

Not always. You may not need probate if the estate is under £5,000, all assets were held jointly, or all assets are in trust. Some banks release funds without probate under their own thresholds (typically £5,000 to £50,000). Contact the organisations holding the assets to check.

What happens if there is no will?

The estate is divided under intestacy rules. The surviving spouse receives the first £322,000, all personal possessions, and half the remaining estate. Children get the other half. Unmarried partners and stepchildren inherit nothing under intestacy.

When does inheritance tax need to be paid?

Within 6 months of the date of death to avoid interest. Tax on property can be paid in instalments over 10 years. IHT usually needs to be paid before the Grant of Probate is issued.

What is a Section 27 notice and should I place one?

An advertisement in The Gazette and a local newspaper under the Trustee Act 1925. It gives creditors at least two months to come forward. It protects the executor from personal liability if an unknown debt appears after distribution. It's recommended for most estates.