Tackling the funding gap in estate administration

Founded in 2020 Provira is one of a handful of FCA-regulated organisations offering inheritance and estate lending services to cover inheritance tax and estate costs. In this latest Today's Wills and Probate Podcast episode host David Opie speaks with John Sanderson, Director of Partnerships at Provira, about the growing role of inheritance and estate lending in the probate process, exploring the reasons for increasing demand and how they work in practice both for consumers and probate professionals. Although still in its infancy as a sector, inheritance and estate lending has rapidly become a recognised solution to the cashflow problems that frequently arise during estate administration, with lenders like Provira offering beneficiaries access to up to 50% of their expected inheritance either before or after probate is granted. These funds can be released within days and can be used for almost any purpose, from clearing debts to meeting living or care costs. Another option is to borrow against the estate to meet estate liabilities, most commonly inheritance tax, but also other administration costs such as legal fees, surveyors’ fees or property renovation to enhance sale value.Rising house prices combined with the long‑term freeze of the inheritance tax nil‑rate band have led to more estates incurring tax liabilities. At the same time, many estates are asset‑rich but cash‑poor, with value tied up in property and investments that cannot easily be accessed before probate. This creates a funding gap at a critical moment, particularly given the timing of IHT payments, which is driving interest and demand for lending services explains Sanderson. The Today's Wills and Probate podcast is available on your preferred podcast provider, and at www.todayswillsandprobate.co.uk. Subscribe today to hear all the latest news and views across the wills and probate sector.Thank you to our podcast sponsors LEAP Estates, Estate Research, Property Ladder Group and Finders International.