So, what really happens behind the scenes when your internal collections team uses Probate Finder OnDemand® to place accounts for probated estate identification? Most users’ knowledge of the process begins and ends with our “One-click” claim approval. However, there is a complex, unseen series of actions beneath the surface.
Overview
Probate Finder OnDemand® is the premier online solution for probated estate location and claim presentation. Our solution allows organizations to automate a robust and complex probate location, matching and claim presentation process while effectively managing compliance and security. Our industry leading, web-based application allows our clients access to our proprietary database and enables them to:
Search for probated estate information
Outsource claim processing
Insource the management of post-claim follow-up
Sara Brown, Customer Care Manager
As part of the Probate Finder OnDemand® management team, I oversee client onboarding and management, along with product and process enhancements. We continue to evolve our application to accommodate our clients’ needs, and to ensure a user-friendly platform.
Often, because our application is so user-friendly, the value becomes minimized, and can often create a disconnect in new client expectation versus what really happens.
Below are the three most common Probate Finder OnDemand® client expectations often grounded by reality.
Expectation
“Once a claim is filed, the work is done.”
Reality
There is often a misconception that when a claim is filed, the work is done. While this may be true in some cases, given that locating a probated estate and presenting a claim is a critical component to securing your interest, the reality is that minor touch-points and outbound communication efforts are necessary to ensure optimal results.
Once a claim is filed, follow-through actions can be taken to ensure a claim is accepted (in addition to understanding the status of your claim). These actions can drastically increase your recoveries.
Proper follow-up can result in faster recoveries and an overall improved return on investment.
Expectation
“A located probated estate equals recovery dollars.”
Reality
Even if a probated estate is located, that doesn't equate to 100% monetary recovery. Keep in mind, estates are comprised of a wide-range of assets and the individual value those assets carry.
Because of this, funds available may not be enough to cover all debts of the estate. Things to consider to enhance your recovery process and increase the likelihood of claim payment include:
Timely presentation of claim; even when filing within the claims period, the sooner you file, the better.
Understand the full inventory of the estate.
Contact representing parties and ask questions.
Expectation
“We can manage the estate sourcing and claiming filing variables internally.”
Reality
There are over 20,000 claim filing variables across 3,450+ probate courts. To effectively manage the entirety of these changing variables, you would need to have a solely dedicated in-house team to monitor changes and ensure consistent compliance.
Having an automated process to simplify all the complexities of probated estate sourcing and claim management needs to be a best practice incorporated in to your estate recovery process.
Understanding the probate process and having the right probate partner can create an additional revenue stream. Knowing the reality of filing on probate by having proper expectations of both timelines and follow-up can improve your results.
About the author
Joining DCM Services in 2006, Sara applies her 10 years of experience in probated estate location and claim presentation operations, to successfully managing the customer care team for Probate Finder OnDemand. Committed to maximizing recoveries for our clients, Sara works as an expert advisor within the Probate Finder OnDemand application product. Sara’s team strives to ensure a smooth transition from the onboarding and implementation process to maintaining positive and valued customer relations. Sara Brown received her Bachelor of Science from St. Cloud State University in Social Science.