Law Firm vs Probate Consultant/Tech Firms

Finding help in Estate matters can be a challenging and time-consuming process.

In recent times, the proliferation of online providers and quasi legal operators has made that process even harder.

Here are 5 factors to keep in mind when choosing your representative:

1. Knowledge and Expertise in Law

   Solicitors have extensive knowledge and understanding of laws, procedures and background related to probate, including regulations and requirements for obtaining a grant of probate. They can provide comprehensive guidance and advice to navigate the process seamlessly. In contrast, consultants will never have the same level of legal knowledge and expertise, potentially leaving clients inadequately advised on the intricacies of probate.

2. Legal Practitioners Liability Insurance

   In Victoria, legal practitioners are required to have professional indemnity insurance as a condition of holding a practicing certificate and operating a law firm. This insurance is intended to protect clients from any financial loss resulting from the legal practitioner's professional negligence or breach of duty.

   Consultants and non-law firms do not have any such requirement, which is further conflated by their limited understanding of the law their lack of professional obligations.

3. Accountability

   Solicitors are regulated by their state-based authority (e.g., Legal Services Board in Victoria) which holds them accountable for their work. If a solicitor makes a mistake or fails to meet a client's expectations, the client can make a complaint to the Legal Services Board, which will investigate and take appropriate action. This provides a level of protection and recourse for clients that is not available when working with a consultant.

4. Understanding of Property Law, Tax and Stamp Duty

   Many deceased estates are the holders of real estate, from a Principal Place of Residence to multiple investment properties.

   Consultants & online operators are both unable (prohibited by law) and incapable (no practical experience) to advise clients of the steps they need to take or provide that service itself.

   This includes guidance on taxation and stamp duty implications.

5. Comprehensive Service (where required)

   Solicitors can provide a comprehensive service that includes not only obtaining the grant of probate but also helping to administer the deceased's estate, including the distribution of assets and the payment of debts and taxes.

   While a consultant may have some knowledge of the probate process, they are unable to;

·         File documents with the Court

·         Speak with Registrars at the Court

·         Draw funds to a Trust Account

·         Act in Titles Office or SRO dealings

·         Certify documents

·         Facilitate taxation requirements, etc

Disclaimer

This information is general in nature and is not intended to be relied upon as, nor to be a substitute for, tailored legal advice.