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Why putting off probate could cost you more than just time

After losing a loved one, many families put off applying for probate, either due to grief, confusion, or the belief that it is not urgent.

However, waiting too long can lead to unnecessary complications, including financial strain, lengthy delays, and even missed tax deadlines.

Unfortunately, the probate system is already experiencing delays, and upcoming changes to Inheritance Tax (IHT) could make matters even worse.

If delays do worsen, it is important to apply for probate as soon as possible.

The current state of probate delays

The number of probate cases taking more than a year to be granted has risen by 65 per cent over the past three years.

For families, this means months and sometimes over a year of financial uncertainty, as assets remain frozen, and beneficiaries cannot access their inheritance.

Delays can also lead to additional costs, including property maintenance expenses, ongoing bills, and even penalties for late tax payments.

Upcoming IHT changes will create even more delays

From 2027, the Government plans to include pensions within the scope of IHT, meaning executors will need to gather even more financial information before probate can be granted.

The added burden to the probate processes will mean that even families who do not owe any tax will face months of extra delays.

At present, many pension pots fall outside of IHT calculations, allowing beneficiaries quick access to funds.

However, under the new rules, executors will have to contact every pension scheme the deceased was a member of, confirm the value of any unused funds, and complete an HM Revenue & Customs (HMRC) calculation before probate can even be applied for.

This process could take months longer than it does now, delaying the distribution of assets even further.

The financial and emotional toll of delays

Delaying probate can also have real financial consequences. Here are some key reasons why waiting can cause problems:

Bills and debts still need to be paid – Mortgage payments, utility bills, and other financial obligations don’t stop when someone passes away. The longer probate takes, the more pressure executors and families face to cover these costs.
IHT deadlines won’t wait – HMRC expects IHT to be paid within six months of death, even if probate hasn’t yet been granted. Delays can result in interest charges and penalties.
Frozen assets cannot be accessed – Until probate is granted, bank accounts and investments remain inaccessible, meaning families may struggle financially, especially if they were reliant on the deceased’s funds.
Property can lose value – If an estate includes property, delays in probate could mean losing potential buyers, leading to price reductions or extra costs for upkeep.

How to avoid probate delays

While the probate process can seem daunting, taking action early can help reduce waiting times and financial pressures. Here is what you can do:

Seek legal advice early – Many families delay probate because they don’t know where to start. Our solicitors can guide you through the process and help you avoid common problems.
Gather financial information quickly – Start collecting details of the deceased’s assets, including bank accounts, investments, pensions, and debts, as soon as possible.
Pay any tax due promptly – Ensuring that IHT is paid on time will prevent further delays and penalties.
Submit probate applications sooner rather than later – With increasing delays, the earlier you start, the better.

If you have recently lost a loved one, don’t put off the probate process – beginning the process now will save time, reduce stress, and help avoid financial difficulties down the line.

If you need help with probate, contact our expert team today. We can assist with everything from applying for probate to handling complex estates, ensuring the process is as smooth and stress-free as possible.

Rachel Blackburn

Head of Wills, Probate and Older Client Services

I joined Mander Hadley’s Wills, Probate and Older Client Services Team in 2018.I specialise in the preparation of Wills, Probate and estate administration, trusts and trust administration and Lasting Powers of Attorney. I also have experience of care fee planning and appeals of Continuing Health Care decisions.

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