The Advance Probate Plan is for those people who would like to make sure that their passing is not accompanied by the need for their family to spend months dealing with the intricacies of probate and risking a fine if they get it wrong. It also means that the family will not need to find the cash – at a difficult time – to pay probate fees and expenses. Prepayment for probate.
Many banks and firms charge excessive fees for probate, secure in the knowledge that distressed relatives won’t have the strength to worry about minor details such as a small percentage “responsibility” allowance which could more than double the overall cost of the probate process. The Advance Probate Plan offers a guarantee that this won’t happen.
The Advance Probate Plan is a really simple way of setting aside a sum of money for professionals to sort out your assets and liabilities when you die. Not only that, but the Advance Probate Plan also helps to keep things tidy and organised so as much of possible (once again) to make your passing as straight forward in the financial sense as possible.
In the majority of cases where there hasn’t been a substantial change in your assets or liabilities, the recommended sum should be enough to cover all of the expenses of probate (dealing with the estate) – there may even be some change.