Not everything you own goes through probate. The difference between assets that pass through probate and assets that don't has a major impact on how quickly your estate can be distributed, how much it costs to administer, and what your beneficiaries actually receive. This guide breaks down which UK assets typically go through probate and which pass outside it, with the rules and practical considerations for each.
Key takeaways:
- Probate is required for assets held in the deceased's sole name above each provider's threshold — typically property, large bank balances, investments, business interests.
- Probate is NOT required for jointly-owned assets passing to the surviving owner by survivorship, pensions paid via beneficiary nomination, life insurance in trust, and very small estates.
- Most banks release balances under £5,000-£50,000 without a grant of probate (the threshold varies — check directly).
- Pensions and life insurance with named beneficiaries pay out fastest because they bypass probate entirely.
- Estate planning isn't just about your will — it's about understanding which assets pass under the will and which pass outside it, and making sure both align with your overall wishes.
What probate actually does
Probate is the legal process of getting authority to deal with the deceased's assets. The Probate Registry issues a grant of probate (where there's a will) or grant of letters of administration (where there isn't). The grant is presented to banks and asset-holders to unlock the assets so the executors can distribute them.
Assets that need probate are typically those held in the deceased's sole name above a threshold. Assets that don't need probate either pass automatically to someone else (by survivorship) or pay out under a separate contractual arrangement (beneficiary nominations).
Assets that typically GO through probate
### Property in the deceased's sole name
Always requires probate. The Land Registry will not transfer title without it. If the property is held as tenants in common (defined shares), the deceased's share passes under the will and requires probate.
### Bank and building society accounts (large balances)
Most institutions require probate for balances over their threshold. Examples in 2026:
- High Street banks: typically £20,000-£50,000
- Nationwide: £30,000
- NS&I (National Savings): £5,000
- Santander: £50,000
- HSBC: £50,000
Each institution sets its own threshold, often increased over the years. Smaller balances can be released on production of a death certificate, the will, and identification of the executors. Always check with the specific provider — thresholds change.
### Investments and shares
Stockbroker accounts, ISAs, share certificates, and most investment platforms require probate to release. Spouse ISA "additional permitted subscription" rules let the surviving spouse inherit the ISA allowance but the underlying assets still go through probate.
### Premium Bonds
Held by NS&I; required to be returned and the cash repaid to the estate. Probate required above £5,000.
### Business interests
Shares in a private limited company, sole trader business assets, partnership interests — all generally require probate (and often specialist valuation).
### Cars, valuable personal effects
Personal property of substantial value (a car, antiques, jewellery, art) usually require probate to transfer ownership. Lower-value personal effects (clothing, household items) can usually be distributed by the executors without specific authority.
### Royalties, intellectual property, copyrights
Continuing intellectual property rights require probate to transfer.
Assets that DO NOT go through probate
### Jointly-owned property held as joint tenants
The legal mechanism is survivorship: on the death of one joint tenant, the deceased's interest passes automatically and immediately to the surviving owner(s), outside the will. The deceased's share never forms part of the estate for probate purposes.
This is why severing a joint tenancy to tenants in common is sometimes part of estate planning — it puts the deceased's share into their estate for control by their will.
### Joint bank accounts
Same principle. On the death of one account holder, the balance passes to the survivor. Practically: notify the bank with the death certificate; the account becomes the survivor's. No probate needed.
### Pensions (most workplace and personal pensions)
Pensions usually pay out via a beneficiary nomination form held by the pension provider. The pension trustees decide who receives the death benefit, taking your nomination into account. The pension is outside your estate and outside the will (unless your nomination directs it to your estate, which is rare and usually tax-inefficient).
This is also why pensions are increasingly part of inheritance tax planning — they can pass to your beneficiaries free of IHT in many cases.
### Life insurance written in trust
Life insurance policies "written in trust" pay out directly to the named beneficiaries, outside the estate. No probate needed; funds arrive within weeks. Policies NOT written in trust pay into the estate and require probate.
### Trust assets
Anything held in trust (set up during your lifetime) is outside your estate. The trustees continue to hold the assets according to the trust deed.
### Very small estates
If the entire estate is small (typically under £10,000-£15,000) and consists only of personal effects and small bank balances, no formal probate is needed. Banks will release on production of the death certificate; personal effects pass to the executors without paperwork.
### Foreign assets in jurisdictions that recognise the deceased's will directly
Some countries can deal with the foreign asset on production of the deceased's documents without a separate UK probate process. Many do require the UK probate to be "resealed" or recognised locally — see our foreign property guide.
Why this matters for planning
The split between probate and non-probate assets has three big practical implications:
### 1. Speed
Non-probate assets often pay out within days or weeks. Probate assets take 6-12 months end-to-end. If your beneficiaries need money quickly (mortgage, immediate living costs), making sure key assets pass outside probate accelerates the support.
### 2. Cost
Probate has direct fees (£273 in 2026 for estates over £5,000) and indirect costs (solicitor fees, valuations, IHT preparation). Non-probate assets avoid all of this.
### 3. Coordination
Your will only controls probate assets. If your pension nomination contradicts your will (e.g. names an ex-spouse), the pension follows the nomination, not the will. Aligning the two requires reviewing both periodically.
Trusted Hands wills handle the probate-asset side of your estate. For non-probate assets — pensions, life insurance, jointly-owned property — check your nominations and ownership arrangements separately. Start your will →
Practical estate-planning consequences
If you want assets to pass quickly:
- Hold property as joint tenants if your wishes match the survivorship outcome
- Set up life insurance in trust (your insurer can help — usually free)
- Keep pension nominations current
- Use payable-on-death designations where available
If you want maximum control over who inherits:
- Hold property as tenants in common so your share passes under your will
- Set life insurance to pay into your estate (slower but follows the will)
- Be cautious with broad nominations on pensions if your will would direct differently
Most people use a mix — joint tenancy for the home with their spouse (simplicity), with everything else flowing through the will.
Frequently asked questions
How long after death can probate be applied for?
There's no minimum waiting period — executors can apply as soon as they have the death certificate, the will, and the asset valuations needed for the IHT return. In practice, gathering valuations takes 4-8 weeks before the application is made.
What happens if I die owing more than my estate is worth?
The estate is insolvent. Probate (or letters of administration) is still needed. The executors pay debts in the statutory order of priority; if there's not enough, some creditors receive nothing. Beneficiaries receive nothing. Family members are not personally liable for the deceased's debts (unless they were jointly liable in life, e.g. on a joint loan).
Can probate be skipped if the family agrees?
For non-probate assets, yes — they don't need probate anyway. For probate assets, no — even with full family agreement, banks and the Land Registry will not transfer assets without the grant. The grant is what gives the executors legal authority.
What's the difference between probate value and market value?
Probate value is the open-market value at the date of death, used for inheritance tax purposes. Banks will release assets at their value at the date of death, not later sale value. If property is later sold for more, capital gains tax may be due on the gain since death.
Can the executors sell my house before probate is granted?
They can start the process (instructing estate agents, accepting offers) but cannot complete the sale until probate is granted. The Land Registry won't transfer title without the grant. Buyers and their lenders will usually wait.
Are debts paid from probate or non-probate assets?
Generally from probate assets. Non-probate assets (joint tenancy property, pension proceeds, life insurance in trust) usually aren't available to pay the deceased's debts. The exception: jointly-owed debts remain the surviving joint debtor's responsibility.
Do digital assets go through probate?
It depends. Crypto held in a wallet you control is part of your estate and goes through probate. Cloud storage, email and social media accounts are usually licences (not property) and pass under each provider's terms. See digital assets in a will.
What if I'm not sure whether something needs probate?
Ask the asset-holder directly. Banks, pension providers and investment platforms all have bereavement teams who will tell you their requirements within minutes. Don't guess.
Trusted Hands is a UK will-writing service, not a firm of solicitors. Probate for complex estates (business interests, multiple jurisdictions, contested wills) benefits from advice from a regulated solicitor or probate practitioner.
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