Who Should Use a Fixed Fee Probate Service?
You may have already heard of the benefits of using a fixed fee probate service if you have been left with the responsibility of dealing with a loved ones estate. But is a fixed fee probate service right for your situation?
This will depend on a number of things, including the value of the deceased’s estate and whether you feel up to executing the estate yourself at your sad time of loss. If the deceased has left significant assets of about £10,000 after funeral costs, you may want to use a fixed fee probate service to deal with the estate on your behalf. But if the estate is worth under £5000 after funeral costs, you will not need to apply for probate at all, as the bank will allow you to access your loved ones money.
If the proceeds of the estate are tied up in property, or shares, or anything other than just money in the bank, you may want to use a probate service to deal with everything on your behalf. Also if there are bills to be paid and money to chase up from those who owe the deceased money, it may be easier to opt to get an expert to do all this for you.
You may not need to apply for probate at all if all the assets your loved one left is in joint names with you. In that case, you will probably just need to ask the financial institutions concerned to transfer the assets into your name only.
Another reason that many people choose to use a fixed fee probate service, is to avoid massive legal costs. You may not wish to deal with your loved ones estate yourself, at this time of grief. But you may be worried that legal costs will eat up a large amount of the estate if you appoint a solicitor to deal with the estate on your behalf.
And your concerns are understandable. After all, each solicitor’s letter could cost you around £100, and a simple telephone call could be as much as £50. You have no way of knowing what the final bill may be, particularly if the deceased’s finances are complicated and dealing with the estate is a long and drawn out process.
This is a good reason to opt for a fixed fee probate service. By agreeing a fixed fee, you know the exact costs before you proceed and you don’t need to worry about a huge legal bill at the end.