Accountants Welcome New Move on Probate Work

Surrey accountants TWP Accounting LLP have welcomed a government move paving the way for accountants to carry out wills and probate work.

The Ministry of Justice has approved an application by the Institute of Chartered Accountants in England and Wales (ICAEW), submitted last September, to offer services relating to wills and probate, the legal process of distributing someone’s assets after their death. The legal profession currently exclusively provides these.

The ministry also approved an application by the Institute of Chartered Accountants of Scotland (ICAS) to offer will and probate services in England and Wales. The ministry’s decisions are now awaiting formal approval by Westminster.

Mike Dawes, private client tax partner at TWP, said: “This is a welcome decision by the government. The move will give clients much greater choice in selecting their professional advisers, which should encourage everyone working in this field to be more competitive in offering fast, efficient and cost-effective will and probate services.

“Accountants already deal with a comprehensive range of financial affairs, including estates, tax planning and trusts, for their clients. Their expertise in these matters makes them ideally placed to provide wills and probate services to clients with whom they may already worked for many years, during which they have developed detailed knowledge of their finances.

“Whether a client chooses an accountant or a lawyer for will and probate work, they also have the peace of mind of knowing that their adviser is regulated by a professional body, to ensure that they receive a quality service.”

The ICAEW and ICAS applications were submitted after the government’s legal services consultative panel last year recommended broadening the provision of wills and probate services, following an 18-month consultation.

For further, information please contact TWP on 01932 704 700 or visit www.twpwealthmanagement.co.uk