Probate tends to arrive at a moment when life already feels complicated. It brings forms, deadlines and a surprising number of small but important tasks that are very easy to overlook. Here are some of the most common things that slip through the net.
- Finding every asset
Most people focus on the obvious items such as the property, the bank accounts and the investments. But probate requires a complete picture of the estate. That includes premium bonds, old workplace pensions, forgotten savings accounts and even digital assets. Missing something can slow everything down and create problems later.
- Registering any trusts created by the will
This is one of the biggest surprises for families. If the will creates a trust, that trust may need to be registered with HMRC through the Trust Registration Service.
The rules come from the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. These regulations were expanded following the Fifth Anti Money Laundering Directive which the UK implemented in 2020. This is even the case if they do not have a tax liability.
There are some exceptions so it’s best to take legal advice early on. As an executor, do not assume that a will trust is automatically exempt!
- Keeping beneficial owner information up to date
If a trust does need to be registered, trustees must provide full details of all beneficial owners. This includes the settlor, the trustees, the beneficiaries and anyone who has control over the trust. Any changes must be reported within ninety days. It is a simple rule but one that is frequently forgotten.
Final thought
Probate is rarely straightforward, but it becomes far more manageable when you know what to expect. Tracking down every asset, understanding when trusts must be registered and keeping HMRC updated are all essential steps that are easy to miss. A little organisation early on can save a great deal of stress later.
Coming up next
In the next blog we will look at practical steps you can take to make the probate process easier. From preparing key documents in advance to knowing what to expect, it will focus on simple actions that reduce stress for you and for the people who may one day need to deal with your estate.
Published on: 12.06.2026
Contact: Daniel Sperber at Coleshill Wealth Management
T: 01675 622 445
E: daniel@coleshillwealthmanagement.co.uk
The information contained in this blog is for information purposes only and does not constitute advice. Please seek financial advice before making any decisions. The value of investments can go down as well as up and you may not get back the full amount you invested. Past performance is not a guide to future returns.