In case you have just lost a close relative, handling their real estate on your own is not a piece of cake.The good thing is that it is not a must that you deal with the real estate on your own, although many people prefer handling it on their own. In most cases, many people opt to deal with the real estate of their loved ones themselves to avoid the legal cost. They fear that huge legal cost may take a big part of the estate. Since dealing with probate yourself may be costly, consider going for the fixed fee probate.
One of the benefits of using fixed fee probate is that you will not be required to pay for the probate cost upfront. Although you will not require paying any money, you will agree on the total fee you ought to pay upfront. This can assure you that you will not experience any nasty surprise after the settlement of the estate. The fact is that the cost of hiring a solicitor can get too high and can strain you.
Basically, dealing with probate entails making an application to the tribunals service seeking the permission to take charge of your loved one’s estate and their finances. Again, applying for probate is not necessary in case the deceased had a total wealth that is less than $5000 and the wealth is in money form at the bank. Many banks will not hinder you from getting access to the account of your loved one in case the money in the account is below $5000.
Also, in case the total amount of money is above $5000 and you a have joint name with the deceased you will not have to apply for probate. It is a pleasure for every bank to switch the wealth of the deceased to your name on proving the death of the deceased. You will need to consider going for probate if these mentioned factors do not apply to you.
There is no reason to be ashamed if dealing with probate on your own seems challenging. The reason is that many people have had this experience as well. Handling taxes and financial issues may be very complicated at times. It is also not easy to think soberly when you are in the process of grieving the loss of a person close to you. In most cases, you may get the temptation of allowing your family solicitor to take charge of all the matter. No matter how overwhelmed you feel, avoid going this direction.This is because the fee for hiring a solicitor can get too high. You can take the worry away when you use fixed pay probate.