What is the protocol’s purpose?

The protocol is intended to provide a clear and consistent process for all authorised probate practitioners (including accountants). It states that ICAEW is a signatory and an approved regulator for legal services.

What does the protocol contain?

The banking protocol sets out the information required by financial institutions to access accounts and release assets held by deceased customers. This includes:

• how to verify the probate practitioner’s regulatory status and authority to act for the estate;
• a link to ICAEW’s probate and oaths register;
• the information needed by financial services firms and the information they will provide; and
• how funds are identified, released and accounts closed.

We recommend ICAEW-accredited probate firms provide company headed paper to banks and financial institutions containing a link to their entry on ICAEW’s probate and oaths register. This will confirm their authorisation and that they are regulated, qualified, authorised and covered by liability insurance to their clients.