Over the years there has been huge growth within the Probate and Court of Protection world, with Private Client solicitors being busier than ever and requiring more assistance from professional and reliable service providers to help get certain ‘non legal’ matters done.
The question is though, who can be trusted and relied upon? How do you ascertain who can be trusted without going through the risk of ‘trial and error’?
Probate and Court of Protection matters are two of the most stressful things a client will need to deal with, so any introduced firm must be several things.
1. Professional and able to deliver the service they have been instructed to.
2. Cost effective and able to produce evidence of their charges.
3. Understanding of the sector they are working within, and able to demonstrate such knowledge.
4. Have technical expertise and the means to complete the work as quoted.
5. Be able to communicate and work closely with the legal team.
6. Are available when needing to be contacted.
7. Can adapt to the needs of each individual case they are required to assist with.
8. Are committed to providing the same level of service as you are.
9. Have a reputation that can be relied upon.
Forward thinking and reliable companies are hard to come by, so here at Property Ladder Group we have made it our mission to ensure we work with the best of the best. Our ‘Partner Firms’ are people we work with that have solid reputations and are known for delivering the highest level of service to their customers.
We want to share our network with you, so you benefit from our many years of experience, and hopefully establish relationships with the right people.
One of our partner firms is EstateSearch our Director Darren Leggett, recently had a virtual interview with Ben Furlong who is the Associate Director of EstateSearch. Ben gave some very interesting answers on how their services are proving to be so helpful to the legal industry.
Interview With Ben Furlong
What kind of challenges exist when identifying accounts in an estate?
In the Direct Line survey, 88% of practitioners report growing difficulties in identifying estate accounts because of rise of online banking, switch to paperless billing, sheer range of financial service providers, moving houses and moving jobs more regularly, forgetfulness and secrecy or obfuscation.
What kind of issues does this create for practitioners?
Missed Asset = additional cost if discovered after distribution and potentially unhappy beneficiaries if having to pay incur cost of what they perceive should have been sorted.
Missed Liability = personal liability. Executors can advertise but note the Trustee Act caveats. Plus, nothing stops creditors chasing unhappy beneficiaries who might then ask why it wasn’t found in the first place.
How does Estatesearch help legal professionals?
We provide a comprehensive and efficient asset and liability search, which provides peace of mind for executors and beneficiaries. It helps re-patriate accounts and protects against cost or risk of missed assets/liabilities.
We take a data led approach using data and technology to draw on available information sources such as Credit Reference Agency data and using technology to automate task of searching for estate accounts.
Have you developed any interesting case studies?
Yes, checking DoB confirmed accounts and found £60k.
In another a removed Deputy was discovered to be hiding pension.
We’ve found accounts ranging from £2 to in excess of £1million.
What is your advice or recommendation to people when thinking about how to identify assets in an estate?
Consider and set your policies and procedures. Communicate risk in client care letter and ensure clients know what the options are. We offer suggested client care wording free of charge.
How does PLG assist you in your day-to-day role?
The ability to help deal with particularly complicated property matters, or property matters we are not well-versed in. Every time we have come to you you’ve been able to find a solution which is appreciated!
To find out more about Estatesearch and their services visit their website or email Ben email@example.com
To view the full interview see our Youtube channel.
At Property Ladder Group we pride ourselves on the relationships we have with professional industry experts in the sector. We understand the importance of forming relationships with the right organisations to ensure the introductions we make, and the individuals we team up with are operating to the same, extremely high standards as ourselves.
With this in mind, if you would like to become a member of our network and feel you would like to be introduced to other likeminded professionals that will help build your brands image, reputation and workload, please get in touch with the us on 0330 124 7434 or firstname.lastname@example.org