Low cost probate versus do it yourself
This article on how predictions about the value of the average estate is interesting.
I have no idea how accurate the prediction is. Statistics from newspapers are notoriously unreliable but HSBC seem like a reliable source (you trust bankers, don’t you?)
The thought it raised in my head, though is the comparison with a house purchase.
For many people the two most valuable assets they will ever deal with are their house and their inheritance. An executor, of course, will be dealing with other people’s inheritance. But unlike most house purchases, there will not be a common interest between the parties involved.
There are some people who prefer to carry out the probate work themselves. For some very small, simple estates, that may well be preferable to involving professional advisors.
But whilst there is a recognition that paying for a good solicitor and surveyor is wholly preferable to attempting to carry out their jobs for yourself and attaching so much risk to such a large asset, I don’t think some people see probate is the same light, despite the complex tax legislation and competing interests of the different beneficiaries.
When you can get a low cost, fixed fee probate service like ours, I really believe the choice between us and do it yourself probate is easy!