Probate Planning

‘So, what is Probate?'

When you die the executor of your Will, a loved one or a friend will need to deal with your estate (money, property and possessions) by collecting in all the money, paying debts and distributing the estate to those people entitled to it.

‘Probate’ is the term often used to describe the legal document given to one or more people authorising them to do this. Often people will seek professional help at this time because it is so very time consuming and complicated.

If your assets are in the region of £200,000, banks could charge you up to 5% (£10,000) to administer the estate and a solicitor as much as 3.5% (£7,000) *. This charge will be taken directly out of your estate, leaving your beneficiaries with less.

‘That’s £10,000 to distribute the estate? There must be another way?’

Fortunately there is. itc Legal Services are the largest probate providers in England & Wales. They offer a transparent and fixed price service to ensure that money can be one less thing for you to worry about.

For example, for a £120,000 estate itc Legal Services will usually charge £2,050, saving you up to £3,700 on a typical bank's fee and up to £950 on a typical solicitor's fee. On an estate of £450,000 itc Legal Services will usually charge £5,050. This could save you up to £11,700 on a typical bank's fee and up to £3,950 on a typical solicitor's fee. 

You can make these savings by taking out a Will Care Plan. The plan will include Will Writing, storage and unlimited update. There will also be a free home visit for your loved ones when the Probate administration is needed, explaining everything they need to know.

‘What do I do next then?’

To find out whether you need a Will Care Plan, speak directly with itc on 0800 195 2927.

Alternatively they can call you - request a call back here.

_{* Source The Guardian, Saturday September 09 2006}