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. Since dealing with probate yourself may be costly, consider going for the 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. However, you will agree on the payment you will require paying 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.
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. If the deceased total wealth is not more than $5000 and he or she had left all the wealth in the bank, you will not have to apply for probate. 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.
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. If the banks are convinced that the deceased is dead, they will gladly switch the wealth in your name. In case none of the above applies to you, you may have to deal with probate.
In case you are finding it overwhelming to handle probate on your own, you should not be shy about it. 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. Taking care of things when you are not done grieving the loss of a loved one can be very taxing. In most cases, you may get the temptation of allowing your family solicitor to take charge of all the matter. However, avoid doing so. This is because the fee for hiring a solicitor can get too high. The best course of action to take is to use fixed pay probate.