Frequently asked questions about probate.
Why are probate affiliates counted twice as principals?
To keep regulatory complexity to a minimum and the cost of regulation as low as possible. This may sound counter-intuitive but by adding an affiliate to the firm registration it avoids:
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- a registration renewal process for the individual each year; and
- the cost of a separate affiliate application as many of our the probate firms already have an ICAEW regulatory registration.
What is the probate compensation scheme levy?
It funds the required compensation scheme and associated insurance policy.Thank you for your feedback.