Dealing with the real estate of your loved one after they die can be daunting. 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. The legal cost is the main reason why many people handle real estate issues on their own. 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 reasons many people prefer using fixed probate is that there is no money that one needs to pay upfront. You will, however, need to come to an upfront agreement about the total fee that you will be required to pay. Agreeing in advance can guarantee you that there will be no surprises after the estate is settled. To many people, the mere thought of hiring a solicitor makes them anxious since the services of a solicitor can get very expensive.
Probate entails making an application to the tribunal service, requesting to be permitted to take over the estate of your deceased and gain access to their finances. You will not require making an application for probate in case the deceased had all their wealth in the bank and the wealth is less than $ 5000. You will not have any problems accessing the account of your deceased since most banks allow relatives of the deceased to access the money if it is less than $5000.
You will not need to make any request even if the total sum is above $5000 if the bank clarifies that you are joint names with the estate owner.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.
In case you are not confident to deal with probate yourself, you should not be ashamed of it. The reason is that many people have had this experience as well. 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. However, avoid doing so. You certainly would not want to incur the high cost of hiring a solicitor. Consider using fixed pay probate as it is a great option.