Many years ago, when a client was trying to knock legal fees down, he said in a way I understood he meant as an insult, that Probate work is not rocket science.
It’s an interesting assertion, and one that I don’t completely disagree with.
Probate work, the administration of an estate, following the death of someone, is certainly predictable work. What I mean by that, is that when someone dies, the job of dealing with things, includes working out what the assets were on the date of that person’s death. There were a finite number of assets, with a certain number of institutions, whether they be banks, building societies, share registrars or others. Immovable property needs to be considered, and that may be as simple as a home passing to the surviving spouse, or it may include a portfolio of buy to let properties or a holiday home. There may be a fund manager to liaise with. Occasionally there’s a boat.
All of the above is generally identifiable and can be captured on a form, whether you call it a Fact Find or a Questionnaire.
The work that then follows, is extremely predictable, though different professionals will have different approaches to it, just as different workers have different approaches to any job.
When you get your car washed, some will allow that fine line of moss to continue to accumulate at the seal of your windows. Others will be so thorough, you feel you’ve had a brand new car delivered back to you.
Some Probate professionals will complete the forms required to obtain a Grant of Probate, and send you on your way. You will then be responsible for completing the rest.
Others, will ensure that all matters are dealt with thoroughly, correctly and completely. What that involves is making sure that all pension payments are accurately finalised, that all tax matters are resolved, that any property including now empty properties are comprehensively insured, that any trust issues have been consciously considered and action taken where necessary, that all appropriate re-imbursements are made, and that ultimately, following bankruptcy searches on all beneficiaries, that the final distributions are made in a timely way.
Sometimes, although you can see that you’re up to the job of completing the Probate papers to apply for a Grant, it’s the other aspects of truly being thorough in the administration of an estate, that make you feel it’s a good idea to hand it all over. You may have a busy family life or a demanding job, which mean that taking on the administration of an estate and doing it thoroughly, understanding it’s a personal responsibility, is just too much to take on.
If you need help, or you’re not sure if you need help, or you just want to find out the fixed price for getting things done thoroughly, please contact Jane on 01727 840 240 or Jane@jcwillsandprobate.co.uk and if you simply gain the confidence to get on with things yourself, great, but if you find you need to hand things over, Jane’s team promises to look after you as they would their own family. It’s our standard.
Probate work may not be rocket science, but it’s worth getting it done properly, so that your personal responsibility as an executor, doesn’t come back to bite you in future years.