Can You Gain A Financial Advantage In Delaying Applying For Probate?

[paulo28]

I believe that someone is delaying applying for probate (currently approaching 2 years) because either they hope any debts may be subsequently written off or that because they currently haven't any discernible financial assets to declare, they are entitled to receive educational assistance etc.

[Peter Pedant]

no not really
Probate allows you to do deal with an estate ( and it costs)

if there is no estate ( or it is small - less than 5k ) then they may not bother. If the estate is insolvent then the person doing the clearing up (it doesnt even have to be an heir ) just writes a load of letters saying there is no money to pay this or that bill.

all this assumes when a person says there is no money then there is no money. ( and not s/t like - there is no money but there will be if you forgive the debt)

People think that if the dead man has assets of £500 and liabilities of £1000 - clearly insolvent then what happens is that you forgive (then get forgiven) the debts of £1000 and someone then pockets £500. You dont
You pay off the debts of £1000 in the order prescribed by law and write off what is left.

( I had relatives apply for the £250 from the sideboard which was the dead man's little float and I said no it was £2.50 because he drank as you well know and you dont want to contribute to the cost of his funeral do you no I thought not)

[bednobs]

i think te questiiner means that the administrator of the estate has debts themselves and is holding up administering so their debts get written off forst