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. Most people are afraid that a huge part of the estate may be spent on legal cost.In case you would not want to handle probate on your own, consider going for fixed fee probate.
One of the main benefits of considering fixed probate is that you will not have to pay any money upfront. Although you will not require paying any money, you will agree on the total fee you ought to pay upfront. Agreeing in advance can guarantee you that there will be no surprises after the estate is settled. 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 allow you to get access to the account of your deceased if the money is below $5000.
The bank will also not ask you for probate if you are in joint names with the deceased even if the money is more than $5000. Basically, banks will be glad to switch the wealth of your loved one to you once you prove the death of the deceased. In case none of the above applies to you, you may have to deal with probate.
There is no reason to be ashamed if dealing with probate on your own seems challenging. The fact is that you are not the only one who find it taxing to handle probate on their own. Handling taxes and money can be a daunting task to many. It is also not easy to think soberly when you are in the process of grieving the loss of a person close to you. You may also be tempted to hand things over to your family lawyer. No matter how overwhelmed you feel, avoid going this direction.This is because the fee for hiring a solicitor can get too high. Consider using fixed pay probate as it is a great option.