If you are dealing with the estate of a loved one, you probably know that for large assets (like a house), you need a Grant of Probate. This legal document gives you the authority to sell or transfer assets.
However, obtaining Probate is slow (16+ weeks) and expensive.
The “Small Estates” Loophole For smaller shareholdings, UK Registrars often allow you to bypass the full Probate process. They use a special simplified procedure called the “Small Estates Indemnity.”
What is the Limit? Each Registrar sets their own limit, and it often varies by the specific company they manage.
- Equiniti: Often allows limits up to £50,000 for major companies like Lloyds or BT (though some are lower).
- Computershare: Typically sets the limit around £20,000 to £30,000.
- Link Group: Usually around £15,000 to £20,000.
Note: If the shares are worth MORE than this limit, you MUST get a Grant of Probate.
How It Works
- Check the Value: Use Divica or the Date of Death valuation to see if the holding is under the limit.
- Request the Form: Ask the Registrar for their “Small Estates Indemnity Form.”
- The Fee: You will usually pay a small administration fee (e.g., £50–£100) for them to process this form. This is significantly cheaper than a solicitor’s fee for full Probate.
- Countersignature: You may need a solicitor or bank official to countersign the form to verify your identity.
Why Use It? It speeds up the release of funds by months. Instead of waiting for the Probate Office, you deal directly with the Registrar to sell or transfer the shares.