When someone dies, sorting out what they owned can feel like a maze on top of grief you haven’t had time to process yet. Working out what assets are subject to probate is usually the first practical hurdle, because it determines whether you need a grant of probate before you can access money, sell property, or close accounts at all.
The short answer is that any asset held solely in the deceased’s name, such as a house, a personal bank account, or shares, will almost always need probate before it can be transferred or sold. Assets held jointly, or those with a named beneficiary like certain pensions and life policies, often bypass probate entirely and pass directly to the survivor or beneficiary.
In this guide, we’ll walk through the main categories of assets that typically require probate, the ones that usually don’t, and the grey areas that catch families out. We see families dealing with exactly this uncertainty every day at Go Direct Cremations, often while arranging a simple, dignified cremation at the same time, so we’ve kept the explanations practical and free of unnecessary legal jargon.
1. Property held solely in the deceased’s name
Does it need probate?
Yes, almost without exception. If your loved one owned their home, a flat, or land in their sole name, you cannot legally sell it, transfer it, or even release the title deeds until a grant of probate (or letters of administration if there’s no will) has been issued. This applies whether the property is worth £50,000 or £500,000, and it’s usually the single biggest reason families end up applying for probate at all.
Why
Land and property in England, Scotland, and Wales are registered against a legal owner, and that registration doesn’t automatically update just because someone has died. The Land Registry and any solicitor handling a sale will insist on seeing the grant before they’ll process a change of ownership, because it’s the only document that legally confirms who has the authority to deal with the deceased’s estate. Without it, the property is effectively frozen, no matter how urgently the family needs to sell it to cover funeral costs, debts, or care home fees.
A solely owned property almost always sits behind the biggest single reason a family needs probate at all.
How the asset is transferred
Once probate is granted, the executor or administrator can register the change of ownership with the Land Registry and either sell the property or transfer it into a beneficiary’s name. The process usually follows this order:
- Value the property (often via a formal RICS valuation for probate and inheritance tax purposes)
- Include it in the probate application and any inheritance tax return to HMRC
- Wait for the grant of probate or letters of administration to arrive
- Instruct a solicitor to handle the Land Registry transfer or sale
- Distribute proceeds according to the will or intestacy rules
This whole chain can take several months, particularly if the estate is also dealing with inheritance tax calculations. It’s one more reason many families we speak with at Go Direct Cremations choose a simple, unattended cremation first, so the paperwork around probate doesn’t hold up saying goodbye.
2. Bank accounts and savings without a beneficiary
Does it need probate?
Usually yes, though the threshold matters. Most banks and building societies have their own internal limit, often between £5,000 and £50,000, below which they’ll release funds with just a death certificate and some paperwork. Above that limit, they will insist on seeing a grant of probate before releasing a single penny, even if the family is desperate to pay for a funeral or clear outstanding bills.
Why
Banks set these limits to manage their own risk, not because of any fixed legal rule. A sole account with no joint holder and no payable-on-death instruction legally belongs to the estate the moment someone dies, and the bank has no way of knowing who’s entitled to it without a grant confirming the executor’s authority. That’s why two accounts with identical balances at different banks can be treated completely differently.
The bank’s own internal limit, not the law, usually decides whether probate is needed for a savings account.
How the asset is transferred
Contact each bank directly and ask about their small estates procedure, since policies vary widely. Steps typically look like this:
- Send a copy of the death certificate to each bank or building society
- Ask whether the balance falls under their probate-free threshold
- Provide the grant of probate for any account above that limit
- Close the account and transfer funds to the estate’s executor account
This is often one of the quicker parts of estate administration once the grant arrives.
3. Jointly owned property and joint accounts
Does it need probate?
No, in most cases. When you’re working out what assets are subject to probate, joint property and joint bank accounts are usually the exception rather than the rule. If your loved one owned a house or a savings account jointly with a spouse, partner, or sibling, that asset typically passes straight to the surviving owner without needing a grant at all.
Why
Ownership structure decides everything here. Most jointly held property in England, Scotland, and Wales is registered as "joint tenants," meaning each owner holds the whole asset rather than a fixed share, so it passes automatically to the survivor by what’s called the right of survivorship. Joint bank accounts work the same way, since banks treat the surviving named holder as having full access from the moment of death. The exception is property held as "tenants in common," where each person owns a defined share that does form part of their estate and does need probate.
Joint ownership almost always sidesteps probate, unless the property is held as tenants in common.
How the asset is transferred
Transferring these assets is refreshingly simple:
- Send the death certificate to the bank or building society
- For property, notify the Land Registry with the death certificate to update the register
- No grant of probate is required unless the ownership was tenants in common
This speed is exactly why many couples deliberately hold property jointly.
4. Life insurance policies and pensions with a beneficiary
4. Life insurance policies and pensions with a beneficiary
Does it need probate?
Generally no. If your loved one took out a life insurance policy or held a workplace or personal pension with a named beneficiary, that money usually goes straight to the person named on the policy, completely bypassing the estate. This is one of the most common areas of confusion when families try to work out what assets are subject to probate, because a life policy can pay out six figures without a grant ever being needed.
Why
Written correctly, these policies sit outside the estate in law. Life insurance held "in trust," and most pension death benefits, are paid at the discretion of the pension trustees or insurer directly to the named beneficiary, so they never legally belong to the deceased’s estate in the first place. That’s also why they usually escape inheritance tax too.
A named beneficiary on a pension or life policy usually means that money skips probate entirely.
How the asset is transferred
Contacting the provider directly with a death certificate is normally all that’s required:
- Notify the insurer or pension scheme administrator of the death
- Provide the death certificate and the beneficiary’s identification
- Confirm whether the policy was written in trust
- Receive payment directly, often within a few weeks
Speed here matters, since this payout often covers funeral costs before probate on other assets has even started.
5. Business interests, investments and shares
Does it need probate?
Usually yes. Shares, investment funds, and business interests held solely in the deceased’s name almost always need a grant of probate before they can be sold, transferred, or closed. Registrars for shareholdings and investment platforms work the same way as banks, refusing to act on an account until they see legal proof of who’s entitled to deal with it. A sole trader business or a partner’s share in a partnership also usually needs probate, unless a partnership agreement says otherwise.
Why
Share registrars, such as those managing individual company shareholdings, and investment platforms holding ISAs, unit trusts, or general investment accounts, have no automatic way of knowing who inherits what. Unlike a pension with a named beneficiary, a stocks and shares ISA forms part of the estate and passes under the will or intestacy rules, which means it needs the same legal authority as a house or a solely owned bank account.
Shares and investment accounts sit inside the estate by default, unlike pensions or trust-based policies.
How the asset is transferred
Each registrar or platform has its own paperwork, but the pattern is consistent:
- Contact each share registrar, platform, or business partner with the death certificate
- Request current valuations for the probate application and inheritance tax return
- Provide the grant of probate once issued
- Choose to sell the shares or transfer them into a beneficiary’s name
- Wind up or transfer any business interest according to the will or partnership agreement
Business interests often take longest, since valuing a private company or a farming partnership can involve accountants as well as solicitors.
Planning ahead for probate
Sorting out what assets are subject to probate comes down to one simple test: does the asset have a named survivor or beneficiary, or was it held solely in your loved one’s name? Property, sole bank accounts, shares and business interests almost always need a grant. Joint accounts, jointly owned property, and pensions or life policies with a named beneficiary usually don’t.
Getting this right early saves weeks of delay, especially when bills and funeral costs can’t wait for a grant to arrive. If you’re weighing up how to handle arrangements while probate works through the system, choosing a simple, unattended cremation removes one major cost and one major deadline from your plate, letting you focus on the estate at your own pace rather than rushing a ceremony you can’t yet afford or organise. Talk to Go Direct Cremations about arranging a dignified, affordable cremation while you sort out the rest.