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Anyone offering Probate Services yet?

Anyone offering Probate Services yet?

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I'm wondering about getting training to offer Probate Services as outlined by the ICAEW, and supported by SWAT Training.  Has anyone gone through this already?  Is Probate work satisfying/ profitable/ time consuming?  Before investing in the time and training required, I would really appreciate any ICAEW members' (now registered to provide Probate Services) views as to whether they have found it worthwhile.

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By SteveReynolds
31st May 2015 16:43

Take Care

I do regular work for solicitors preparing IHT forms, tax returns, estate accounts etc and have seen the complications involved in providing probate services. The small estates can appear very easy to administer but often quite obscure legal points arise.

I for one, would prefer to deal with the tax and accounting issues and leave the rest to the legal profession. I am not sure whether the fees involved would cover the increased PI risk, training etc etc without a significant volume of work.

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By Mike Sturgess
07th Aug 2015 10:35

I know this is an old post, but thought that it was worth updating. As of today ICAEW has granted licences to 116 firms. Individuals from over 300 other firms have been through the training or are booked on future courses that will lead to being licenced.

The success of being licenced depends on whether or not the firm markets the services or not. Even just writing to all clients notifying tem of the new service works, with one firm picking up six jobs in the first six months. This involved replacing solicitors in two cases and banks in two more. Another sole practitioner who initially had said he was happy to act as an alternate to others if required has recently contacted us to ask to b removed from our list of available firms as he is now too busy with probate work. However, I have spoken to another firm that has received very little work to date, but then it is not on their website, even though the are the first firm licenced in their city, and although they are active on social media they have never mentioned it at all. If you keep your authorisation as a closely guarded secret you will not get any work. If you beat the drum about your new service you will.

We only have anecdotal evidence t support this so far, but I strongly believe that this market is ours for he taking, if we want it.

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