DIY Probate | A Cautionary Guide

Administering an estate following the death of a loved one is a significant and emotionally charged responsibility. Many individuals, seeking to save on professional fees, opt to undertake the probate process themselves.

While DIY probate may seem straightforward at first glance, it is fraught with potential pitfalls that can lead to delays, disputes, and even personal liability.

This article explores the risks of administering an estate as a layperson and weighs the pros and cons to help you make an informed decision.

The Risks of DIY Probate

• Legal and Procedural Errors

Probate involves complex legal requirements, from applying for the grant of probate to distributing the estate in accordance with the law. Errors such as missing deadlines, misinterpreting the will, or failing to account for all assets can not only cause delays but can stop the proceedings.

Correcting mistakes on Probate matters often requires professional intervention, negating any initial savings.

• Tax Implications

Executors must correctly calculate and report Inheritance Tax (IHT) liabilities. Missteps, such as undervaluing property or failing to claim reliefs, can result in penalties or overpayment.

On the other hand, underpaying tax could lead to HMRC investigations and fines.

• Personal Liability

Executors are legally responsible for ensuring the estate is distributed properly. Errors, such as paying beneficiaries before settling debts, can leave Executors personally liable for any shortfall. Disgruntled beneficiaries or creditors can take legal action against you.

• Hidden Costs

While DIY estate administration eliminates professional fees, unforeseen costs—such as court fees, valuation services, and additional legal advice—can accumulate.

Additionally, the time commitment of managing the process, especially for those unfamiliar with probate, can be substantial.

• Family Disputes

Mismanagement of the estate or perceived unfairness can spark family disagreements, leading to strained relationships and, in some cases, litigation.

An independent professional can often act as a neutral party to defuse tensions.

When to Seek Professional Help

While DIY probate might be feasible for straightforward estates with clear instructions, getting advice from a specialist solicitor is strongly recommended.

In particular, legal expertise is particularly important in the following scenarios:

• The estate includes high-value or complex assets (e.g., property, businesses, shares).
• There are disputes among beneficiaries or unclear terms in the will.
• The estate owes Inheritance Tax.
• The estate involves international assets.
• You lack the time, confidence, or legal knowledge to manage the process thoroughly.

How can Hegarty help?

Administering an estate is not just an administrative task; it is a legal duty with serious implications. While DIY probate might save on costs, the risks of errors, disputes, and personal liability often outweigh the benefits.

Seeking professional guidance ensures the process is handled efficiently and in compliance with the law, giving you peace of mind during a challenging time.

If you are considering DIY probate or have already begun the process, our experienced and friendly team are here to help. Contact us for expert advice and support tailored to your needs.