The Institute of Chartered Accountants in England and Wales (ICAEW) has revealed plans to regulate probate services within alternative business structures.
The introduction of the Legal Services Act, late in 2011, saw everyone from small businesses to supermarkets being able to provide legal advice, as well as specific probate advice to consumers, with mixed results.
As a regulator, the ICAEW would be in charge of issuing licences to these types of firms, whether or not they featured trained lawyers.
The process to approve the institute as a regulator is expected to take up to a year and will hopefully be a step in the right direction towards regulating the will writing and probate industry as a whole. In this way, consumers will once again gain confidence that they are receiving the best advice based on their practitioner’s experience and expertise.
We are pleased to announce that IWC are now approved probate suppliers for the European Association of Will Writers.
The EAW promote the best practices in Will Writing and Estate Planning. IWC Estate Planning and Management Ltd. will work with its 50 members to raise the standards in the will writing and probate industry.
The EAW write more Wills, Trusts (Property and Discretionary), Powers of Attorney and Family Trusts than similar organisations. All EAW members are trained to the highest standards and must abide by the rules and code of ethics of the association. This includes having Professional Indemnity cover of at least £1m.
Members are regularly monitored and attend continuing professional development sessions to ensure that they are fully trained and operate ethically. The law is constantly changing so this is extremely important for practitioners to undergo continual training and development.
The Association has a register of will writers who operate in mainland Europe, Malta and Cyprus. For clients who have overseas property, shares or other assets, we can now refer your requirements to a registered EAW overseas lawyer to draft documents that will be valid in the country concerned.
We have recently introduced will writing and probate services in Scotland and the USA (Florida). This is in addition to our overseas probate services in Jersey, Spain, France and Poland. Our expansion plans are to include more overseas services to cater to UK citizens with assets abroad, especially those who own holiday homes in popular locations such as Spain and Florida. Thus, allowing us to offer a complete service.
We trust that our recent partnership with the EAW will instil our clients with even more confidence. IWC are members of Society of Will Writers & Estate Planning Practitioners. Our probate services are carried out by highly qualified individuals, some of which have full STEP membership (The Society of Trust and Estate Practitioners).
While we offer a low cost, fixed fee probate service – there is no compromise on quality of service, or level of credentials and experience.