A dramatic reduction in the number of people working at the Probate Service has caused long delays in processing probates, according to Ministry of Justice figures obtained in a Freedom of Information (FOI) request by law firm Nockolds.
The FOI showed that staff at the Probate Service was cut by a third from 188 to 123 people over three years.
The situation has brought increased levels of heartache to many families trying to deal with the estates of their loved ones.
Shelley Read, senior technical manager at Royal London, noted: “any delays when families are dealing with the estate of a loved one are difficult. But that can be made even worse if the family have financial worries too.
“But there are steps which can be taken to address the issue, especially if any life insurance policy is set up under a trust.
“Often people have life insurance policies where the aim is normally to repay a mortgage and look after the family,” Read said. “However, if it isn’t set up under trust then it counts as part of the estate and can be held up by the probate process.
“Setting up a policy under trust means it isn’t considered part of the estate. This means the time it takes to pay beneficiaries is much shorter and gives the peace of mind that any bills can be dealt with in the meantime” Read noted.
Beneficiary nomination
“Some companies also offer something called beneficiary nomination which is a simple way that policy holders can nominate who they want policy proceeds to be paid to in the event of a claim,” Read said.
“Having joint accounts also means that there can still be access to funds as all the money will go to the surviving partner without the need for probate.
“Although pensions are not normally part of the estate, it’s worth checking that expression of wish forms have been filled in so no delays are encountered and pension savings go to those you want them to go to,” Read said.