Home > Legal Articles > Are trusts subject to Probate?

Are trusts subject to Probate?

Posted on Thursday, 3rd March 2016 by

probateThis is a recurring question that requires some explanation.

Firstly, what is a Grant of Probate? This is a document that needs to be applied for by executors named in a Will once the Testator (the person who made the Will) has died. The Grant of Probate gives the executors the necessary legal document to administer the estate in accordance with the Will.

So, why would this be needed for a trust?

It depends on how and when the trust was set up. A trust can be set up in someone’s lifetime or on death via their Will. If a trust is set up in their lifetime, it is already in existence when that person dies. The Settlor (the person setting up the trust) chooses who the trustees are, the beneficiaries and the aim of the trust. The lifetime trust may have been active during the Settlor’s lifetime or may have sat dormant with a nominal amount in until that person died. Nevertheless, the administ ration of this trust will be dealt with by the trustees and will be separate from the administration of the estate. Therefore, a Grant of Probate will not be needed. If the trust is set up in a person’s Will called a Will Trust) generally the executors will be the trustees of that trust. The trust only comes into existence on death and therefore money from the estate will be paid into the trust. A Grant of Probate would be need to administer the estate and therefore is necessary for a Will Trust.

This article is intended to provide a starting point for trust administration. However, should you require more detailed advice, please contact our tax and trust specialist team in Market Harborough, for a free 30-minute consultation.

The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer.  If you are interested in obtaining advice, please contact one of our solicitors who will be happy and able to advise you on your own particular circumstances.

Talk to our legal team

The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact one of our lawyers who will be happy and able to advise you on your own particular circumstances.

[]
1 Step 1

Quick Quote

Your Nameyour full name
Contact Number
Post Codeyour full name
Your Messagemore details
0 /
Previous
Next

Related author articles
Article tags

Map and pin icon
Sign up to our newsletter
  ERROR: 8 - CURL error: