We are delighted to let our readers know that Key Business Consultants have passed our exams to apply for authorisation to handle the probate process for our clients.
Probate services concern the administering of the estate of a deceased person in order to resolve all claims and distribute the deceased person’s property as per their final wishes.
Accountants have always typically played an important part in helping finalise the administration of an estate. However, it is only since 2014 that accountants have been able to apply for a licence to handle the full probate services. The only probate matter where a solicitor was previously required was the preparation of the Executor’s Oath but this Reserved Legal Activity is now permissible via the ICAEW.
The ICAEW (of which we are a member) is an approved regulator and licensing authority for probate services and Key Business Consultants are now able to apply for accreditation to offer probate services. We are delighted to be able to offer our clients a very high standard of probate work whilst at the same time offering a good value alternative to using a law firm for probate services. We can also help with other work such as negotiating valuations with HMRC to ensure that the amount of tax payable is as low as possible.
Whilst it is hard to estimate how long probate can take, in our experience, a simple probate case can usually be resolved in around six months whilst more complex cases can take twelve months or even longer. It is always our intention to be able to deal sensitively with family members at a time when they are bereaved and to remove some of the inevitable stresses and strains of dealing with probate matters.
A solicitor may also be required where there are contentious probate matters. We are trained in understanding when non-contentious probate becomes contentious. As such, we are moving, like most accounting firms, towards a hybrid accounting-legal practice known as the Alternative Business Structures (ABS) structure. This will allow us to offer more legal services as time goes on and to provide a more complete service to you.