The NFFD Probate Fund
The National Federation of Funeral Directors are obviously
very aware of the costs surrounding the death of a loved
one. They have looked carefully into how those expenses
can be reduced and the maximum inheritance passed on
to the beneficiaries.
The cost of granting probate can be the final ‘kick in the teeth’
for families with Solicitors taking between 2% to 4% of the
estate value. The NFFD Probate Fund works in a similar way
to a funeral plan by fixing the costs today ahead of the time
of need. However it ensures that the work is carried out by
professionals without diminishing the inheritance to loved
ones. This concept brings probate costs in the control of the
living, not some faceless law firm in the future.
– President of the NFFD
In recent years there has been an increase of trust corporations being established that are taking on independent fiduciary roles. Traditionally, trust corporations were created by banks and private client law firms. However, with probate disputes and contentious deputyship cases on the rise, alternative business structures (ABS) are entering the legal market. Private later life and estate planner firms have been reviewing their practices to consider how best to respond to consumer demand for specialist legal advice. The NFFD Fund is one such financial tool.