How will the modernisation of estate administration aid probate solicitors?

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In a technologically developing world, the modernisation of traditional working methods will help to increase the success and capacities of 21st century businesses. By innovating outdated techniques, industries will be able to boost productivity and concentrate their efforts on other fronts. The probate industry is already reaping the benefits of the latest asset searching strategies.

For decades, probate has been a time consuming and manually driven process which has been unable to profit from advances in technology.

Now, probate and private client solicitors can enhance their efforts by using asset searching professionals who have an expertise in unearthing hidden monies in deceased estates. Experts such as Inheritance Data are exploiting modern technology to improve searching success rates.

In the past, solicitors may have been forced to ‘search in the dark’ when trying to find assets belonging to a deceased individual. This created extra work and meant that probate professionals were forced to individually contact a range of financial institutions to account for the total estate. By using Inheritance Data and modern practices, solicitors can submit a search to over 150 financial institutions from the click of a button, saving time and effort.

Helen Saxon from Money Saving Expert states that “up to £15 billion of unclaimed financial assets in the UK lie in old bank accounts, pensions, life assurance and investments.” A chunk of this money will belong to deceased individuals, signalling the importance of searching for lost, dormant and active assets in your client’s estates.

By using the Inheritance Data search, probate solicitors can streamline their estate administration and maximise the value of estate for their clients. By contacting a wide array of financial institutions via Inheritance Data, solicitors can also complete due diligence and minimise the risk of any case reopening again in the future.

If you think that you and your business could profit from an Inheritance Data asset search, head to https://portal.inheritancedata.co.uk/ and follow the instructions to register. Registration is completely free.

For any more information, visit www.inheritancedata.co.uk.

Josh Cousens | Inheritance Data.

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