This Is Money  - Are probate plans the new Wild West? Salesman say they give peace of mind when a loved one dies... but they cost thousands and may be useless


For years Money Mail fought for pre-paid funeral plans to be regulated to protect vulnerable customers from rip-off sales practices. Claire Davis, director of Solicitors for the Elderly, says probate plans may not take into account the complexity of a person’s estate. She likens them to cheap wills that seem like a good idea at the time but can be overly simplistic and may end up costing more if issues arise and cause havoc for families at a time when they are at their most distressed and vulnerable. Ms Davies adds: ‘People need to understand the risks of taking unregulated advice from companies simply looking at their profit margins. ‘It’s important to find a properly qualified professional to support you during a stressful and upsetting time. You wouldn’t go to a heart surgeon for a broken leg or a hairdresser for a wedding dress.’