Hiring a Professional vs the 'DIY' Approach When Applying for Probate Yourself

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 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 the 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 a full estate administration service. You can find out more about our services on our website http://www.placedobson.co.uk/our-services/personal-services/probate and please feel welcome to contact us if you have any further questions.

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.