Posts Tagged ‘Probate Services’
Following the death of a loved one it is important to employ a probate service in order to manage the transition of the estate to the beneficiaries in accord with the wishes expressed in the individual’s last will and testimony. However, a variety of different institutions offer a probate serve including high street solicitors, high street banks and probate specialists. Each type of institution offers a different level of service and varying probate fees which differ both according to the type of institution and according to the specific company.
High street banks and high street solicitors have the advantage of being found in even the smallest towns all over the country. They can be used for a variety of services and may have been used in the past when dealing with financial issues, property management or even legal problems. Therefore, the individual may have developed a trust with that particular institution which they may deem to be more important than the probate cost for the service which they offer. Past and experience and the location of such a service may influence and individual to choose a high street solicitor or a high street bank.
However, a wills and probate specialist can offer individuals many advantages over high street banks and high street solicitors. First and foremost, such a service deals exclusively with probate cases and therefore operates specialist systems and is entirely focused toward the service that is required. Generally, the cost savings generated through such specialist systems and low overheads are passed on to the client within the probate fees. Moreover, specialising in probate services ensures that the company has accumulated vast amounts of experience in this field and will have a professional attitude toward each and every probate case.
Moreover, wills and probate specialists present considerable cost savings to the client over competitors. In some cases the probate cost to the client can be as much as half the price of the probate fees charged by a high street solicitor and up to a quarter of the price charged by a high street bank. The lower the fees charged by the probate service, the more of the inherited estate that will go to the beneficiaries and not the intermediary. Moreover, a probate specialist will tend to charge fixed probate fees that are agreed up front rather than charging by the hour. This generally means that the client will benefit from a better standard of service and incur a lower probate cost.
The choice of whether to use a specialist probate service or a high street institution is a matter of personal preference. Both options offer compelling reasons to choose their services but a specialist probate service almost certainly offers a better deal for the client. While a high street institution may have been used in the past and may be closer to the client, a specialist probate service can offer a lower probate cost through fixed probate fees and specialist systems.