Applying for Probate can be a lengthy, time-consuming and painful process, and in some situations, just completing the application can take up to a year or more. If you have to apply for Probate, you have the option to hire a professional for help and advice or to do it yourself individually. Either way, it’s crucial to understand the practical pros and cons.

Hiring a Professional

Pros:

• Takes most of the headaches away
• Having someone experienced at what needs to be done
• Gain expert advice and tips throughout the application process
• One-to-one tailored service with a dedicated account handler
• You can choose the level of service that you need – for example, you might require help with the application and paperwork service, or you might want to hire someone to take on the full estate administration
• Somebody having full knowledge on Inheritance Tax, the reliefs and the pitfalls

Cons:

• You will need to pay a professional

DIY Probate

Pros:

• DIY Probate will be cheaper than using a professional service
• You’ll gain knowledge about the Probate application process and should you ever need to apply again you will have an initial understanding

Cons:

• Underestimating the amount of paperwork and time involved with the application process
• Easy to overlook assets that need to be included
• Assume that Probate is just about inheritance tax
• Greater risk of incurring a penalty or interest charges
• The unknown!

It can be a personal struggle having to deal with a loved one’s financial affairs after they’ve passed away and the Probate application can be very complicated and take a great deal of time. It’s important to find a service that is right for you, and whether you choose to hire a professional or decide to DIY Probate, either way, we recommend getting some initial advice and support to help get you started.

Here at RPD, we offer a service that is tailored to best suit your requirements, from an application and paperwork service to full estate administration service. You can find out more about our services here and please feel welcome to contact us if you have any further questions.

Call – 01293 521191

Email – info@placedobson.co.uk. 

In November we will continue the discussion of Probate, and will present a case study from a previous client who completed a Probate application with us.