If you own significant assets in the England and Wales regions of the United Kingdom (UK), it's a good idea to create a Will. Without a Will, your legal heirs would have to apply for a grant of letters of administration. But if you do have a Will, then your legal heirs will need to get a Grant of Probate to act as your personal representative (PR).Richard Smaller, Senior Associate Solicitor, Irwin Mitchell, a full service UK-based law firm, said to ET Wealth Online that a Grant of Probate (or a Grant of Letters of Administration if a person does not have a Will) shows that the individuals to whom it is issued are the deceased’s personal representatives (PRs) with the legal authority and responsibility to manage the deceased’s estate. Smaller says that the PRs are usually referred to as executors if appointed by Will or as administrators in other circumstances. The Grant allows the PRs to access bank accounts and sell property by proving their legal authority to do so.Also read: Own assets in India and England? Why experts say you should make two separate Wills immediatelyLegal heirs can’t sell property in England without Grant of a Probate of Will or Grant of Letters of Administration if no Will existsYousafa Hazara, Partner, Irwin Mitchell told ET Wealth Online, that not everybody will need a Grant (of probate or letter of administration) for their estate. Properties owned jointly, such as a joint bank account, usually directly goes to the surviving co-owner who will only need to produce the death certificate for the account to be transferred to them. Hazara says: “Typically, it will not be possible to proceed with sale of a property belonging to the deceased prior to issue of a Grant, but much depends on the identity of the legal owners and how the property was owned particularly if there was more than one registered legal owner.”To cover funeral expenses, funds can be released without probate grant or letter of administrationHazara says that to cover financial expenses for exceptional situations like funeral legal heirs need not get a Grant of Probate or a Grant of Letters of Administration if no Will exists.Hazara says: “Direct payment to creditors such as HMRC or money to cover funeral expenses may also be requested without production of a Grant.” If given indemnity, banks can release up to GBP 50,000 without Grant of Probate or Letter of AdministrationHazara says that many banks are willing to release significant account balances, sometimes as much as £50,000, to the person(s) who appear to be the PRs - or in a simple estate to the beneficiary. Hazara says: “This is usually in return for an indemnity in case it turns out they (banks) are not the person(s) entitled to receive those funds.”Also read: Have assets in the USA or UK? Why an Indian Will alone may not protect your heirsWatch out for inheritance tax aspect alsoHazara says that even if it is possible to secure release of the deceased’s assets without a Grant of Probate or Letter of Administration, it is important that other requirements are not overlooked. There is an inheritance tax liability to be dealt with, for example (and keep in mind that unspent pension wealth is going to be considered within the scope of UK inheritance tax from April 2027) . Therefore, according to Hazara, professional advice should be obtained as to when you may or may not need a Grant of Probate or Letter of Administration and, whether there is an inheritance tax liability given that any such liability will typically need to be paid within 6 months of the date of death to avoid interest and possible penalties in case deadlines are missed.Though registration of Will is not mandatory in England, should someone still register the Will?Hazara says that it is becoming more common for the location of a Will to be registered. For example, the National Will Register is a private company set up to provide this service. Registration is often arranged with the agreement of the client at the request of their solicitors who will continue to physically store the Will for them. The idea is to help ensure that the location of the Will is readily identifiable. Hazara says that this can be very helpful to families who might otherwise have to look through the deceased person’s papers, and/or otherwise contact different solicitors to see if they hold a Will for their loved one and work out which is the latest Will. Conversely, keeping a Will at home can be risky and not just because it could be lost or destroyed inadvertently. Smaller said that he has often found that in estate disputes, disgruntled family members search for and sometimes destroy Wills when they are kept at home, and the intended beneficiaries find it very difficult to prove that a Will had indeed existed and exactly what it had contained. It is also possible to lodge the original Will with the probate registry. Hazara says: “This can help ensure its existence is not overlooked or ignored, particularly when there is potential for family disharmony.”