Cost of Probate Expected to Fall

The cost of managing a loved one's estate and financial affairs after their death is set to fall after chartered legal executives and accountants start offering probate services.

Probate, a service which could only be carried out by a solicitor previously, has now been opened up through application to the Institute of Chartered Accountants in England and Wales (ICAEW) and The Chartered Institute of Legal Executives (CILEx). As long as the will is uncontested, Probate can be carried out without the supervision of a solicitor.

Before the new rules took effect in November 2014, solicitors would typically charge a percentage of the value of the estate - sometimes as high as 5% - plus an hourly fee for particularly complex cases.

Clive Stevens, executive chairman at accountancy firm Reeves, said:

"This should lead to a reduction in the cost of probate."

"For a typical, non-contentious estate this could be by as much as one-third, which is potentially very significant for consumers."

Michael Welsh, founder of comparison website CompareLegalCosts.co.uk, said:

"Accountants are more equipped to offer fixed costs"

"They use pricing models that allow them to calculate exactly how much a certain job will cost them and what to charge for it. This is exactly what customers want - you wouldn't buy a car without knowing exactly what it was going to cost you."

If you need help dealing with probate matters, contact our probate solicitors on 0845 603 0708 for advice.

Probate Solicitors, Bury