Cost of Probate set to plummet thanks to Accountants!
Last week The Telegraph published an article looking at how the cost of executing a will is set to fall after accountants, such as our own Probate Practice, start to offer probate services. From next month, chartered accountants can apply to the ICAEW for a licence to offer probate services for uncontested wills. Peter James, head of regulator policy at the ICAEW, said costs will fall as competition increases. He said accountants are likely to offer fixed fees or hourly rates rather than charge a percentage of the estate. Reeves has 16 accountants applying for probate licences next month.
Clive Stevens, executive chairman of Reeves, said the changes will increase competition for probate assignments. “This should lead to a reduction in the cost of probate,” he said. “For a typical, non-contentious estate this could be by as much as one-third, which is potentially very significant for consumers.” for the full article click here – The Daily Telegraph
At The Probate Practice we have some of the very first accountants to be fully licenced under these new rules, and have a fixed price of 1.5% of the estate value.
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