ICAEW.com works better with JavaScript enabled.

Probate News 5 - May 2018

Welcome to Probate News 5; your update containing the latest probate technical guidance and best practice advice. In this issue, we launch new resources to support our probate firms including new FAQs and the ICAEW accredited for probate logo, highlight new research – Diversity and the accountancy profession and ask you for your feedback on the funding of ICAEW probate related activities.

Funding of ICAEW probate related activities – we now need your feedback

The funding of ICAEW probate-related activities follows a ‘user pays’ principle; a firm fee is set at a level to cover required costs that allow ICAEW to carry out its statutory and regulatory duties.

Fee increases are required if there are inflationary increases in legal and office-related costs or from small percentage increases in quality assurance, conduct and administrative staff wages. All fee increases require pre-approval from the ICAEW Probate Committee and the Legal Services Board.

What is the view of your firm?

Do you agree or disagree a ‘user pays’ principle is the most pragmatic approach to the funding of probate activities? Please complete this short survey. The closing date is 31 May 2018.

Take part in the survey

Probate success stories

As part of our continuous improvement activity, we are developing the probate information available on our website for your potential clients and current / future accredited firms. Can we feature your firm as a case study? We’d like to show future accredited firms how your firm has benefited from having a probate licence. If you’d like to get involved, please email Michelle Jones.

Greater transparency in the legal services market

The Competition and Markets Authority’s report on a study of the legal services market carried out in 2016, concluded the legal services market is not working well for individual consumers and small businesses. We have published our Action Plan in response to the findings of this report and we will shortly be asking for your feedback. Look out for the consultation document in the coming weeks.

New resources for accredited probate firms

This month we have launched some new resources for ICAEW probate firms:

  • icaew.com/probate is re-launched We have re-launched the probate area of our website with improved navigation to help you easily find what you need. In particular, support and resources for probate accredited firms can now be found here.
  • Probate FAQs We have put together a list of frequently asked questions which cover the scope of the probate accreditation, eligibility and ongoing requirements. 
  • ICAEW accredited for probate logo To help your firm promote your probate service to current and future clients, we are pleased to launch the ICAEW accredited for probate logo. This is available for all probate accredited firms to use. Download your firm logo and guidelines for use.
  • Online community for probate firms Thank you to everyone who has let us know their views on whether an online community for probate firms will be beneficial. We have reviewed all the responses and we hope to launch it later this year.

Diversity and the accountancy profession

Diversity and the accountancy profession is a new piece of research, led by a research team from Cardiff Business School and HEC Paris. It sets out several recommendations for breaking down the current exclusion barriers and establishing the profession as an agent of change.