Dealing with probate? We are here to help

If you are an executor, you now have more choice than ever in who you turn to for probate support.

Accountants like us can now take the lead- and for good reason.

The law changed in 2014 to allow Chartered Accountants to provide professional services for non-contentious probate. Prior to this, the work was an activity reserved for Solicitors.

This has meant that executors of Wills who want professional support have the choice between appointing a solicitor, a bank or an accountant.

Through Sumer Probate our team has over seven years of experience in delivering this kind of work.

So, why might we be the right choice for providing probate services to you?

Accountants are great at the numbers!

Firstly, I am sure that most people would need no persuading that Chartered Accountants are the experts in financial matters, which is critical when dealing with probate.

In particular, the calculation of Inheritance Tax (IHT) is complex, and the rules are evolving all the time.

For instance, the recent Budget has effectively abolished IHT exemption for pension schemes and greatly curtailed rules for farmers.

Our team of tax experts are well placed to support you through the tax maze and being the key professional ensures we are involved when we need to be and that the calculations are robust.

Lawyers often involve accountants anyway

Tasks such as valuing the estate often requires input from accountants even if the probate is handled by a firm of lawyers.

This involves engaging two separate professional firms, potentially duplicating work and increasing time costs.

Probate and IHT go hand in hand, and accountants are used to dealing with all the specifics of IHT, as well as other taxes.

We are good at spotting tax planning opportunities

There are situations where tax planning opportunities can be grasped after the date of death.

We are alert to these opportunities and have experience working with solicitors to obtain deeds of variations to amend the Will to a more favourable position if appropriate.

Very often there are pre-existing relationships with the families

A death is a stressful and difficult time for any family.

Our pre-existing relationships means that we often have financial information available, can be alive to the complexities of the family and can generally be easier to work with than a “brand new” professional.

Our goal is to ease the burden during a difficult time, offering clarity and reassurance to the beneficiaries.

We aim to work with the teams at your local offices to leverage existing relationships.

Our costs are competitive

Some solicitors and banks charge a percentage of the estate as well as time costs.

It has been debated that this may result in fees which are 40 per cent higher than an accountant who offers a similar service.

We do not charge a percentage of the estate. Our fees are transparent, based on time spent, and are communicated in advance.

Sumer Probate is licensed by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious probate in England and Wales.

Details of our probate accreditation can be viewed at icaew.com/probate under reference number C01100334.

Need assistance with any probate matters? We can offer you a free consultation to find out about your specific circumstances and answer any question you might have. Contact us today.

James Gare