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Follow the money

A recent Probaters’ client mentioned this phrase a couple of times “follow the money” – it explains the attraction of many businesses to probate work. Although the actual application for a grant of probate is regulated, the administration of the estate is not and therefore the market is a magnet for all kinds of businesses regulated and unregulated, some with a professional background many others with an aggressive approach to sales and profit maximization. Banks, funeral directors, pension providers – these are just some of the organizations which establish links with probate providers in return for referral fees. 

If you are an executor, bear this in mind and try to work out exactly what the relationship is between the various organisations who try to sign you up and ask them about referral or other financial arrangements.

 

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