Probate 2Hegarty Financial Management conducted a recent survey with Ireland’s leading Pension Providers on how they deal with Death claims “Without  Probate” As Pension funds are arranged on a single life only basis access to them can and are very important to dependents when a claim arises. “In our experience, dealing with death claims is a very sensitive matter at a time of great loss to spouse and family, immediate access to Funds can and does provide comfort and reduce unnecessary stress” says Jim Hegarty of Hegarty Financial Management  The results were staggering in so far as some providers released zero amounts, others varied from €25,000 to €30,000 & €60,000 (with some discretion) to a maximum of €150,000.Our survey showed Standard Life to be the market leaders in this area by providing access to €150,000 without probate.

As there is no industry threshold and no reason not to have one, Hegarty Financial Management are calling on all Providers to increase their threshold in line with Standard Life as a minimum and for these to be reviewed on an ongoing basis. Such a move will secure much needed financial  comfort at such an emotional time. There is No downside for the Fund Providers in allowing this to happen. It’s also important to be aware that when it comes to Bank accounts they require probate for amounts in excess of €25,000 so it’s wise to consider Joint Accounts.

Issued by Jim Hegarty, Hegarty Financial Management, for further information, please e-mail or by phone at 087 2438647.