The Association of Chartered Certified Accounts (ACCA) has been granted power by the oversight regulator to regulate probate activities, a development the organisation says complements its existing services.
The ACCA has been an approved regulator for probate services since 2009 but until now had not sought to activate its right. The Legal Services Board (LSB) yesterday said today it had granted formal authority. According to the association, the approval relates to the reserved legal activity of probate and the grant of probate or letters of administration in England and Wales, extending to non-contentious probate business only.
Ian Waters, head of standards at ACCA, said: ‘This is an important development for practitioners who will soon be able to provide highly valued and comprehensive support to their clients following a bereavement’.
He added: ‘The ability to offer legal services, including the reserved activity of probate, complements the professional services that firms already provide to clients such as inheritance tax planning, estate management and wealth management. Our members are already the most trusted advisers to businesses across the country.’
LSB chief executive Neil Buckley said: ‘Today’s decision introduces the regulatory arrangements, which put in place the arrangements to authorise individuals to carry on probate activities. The ACCA has been recognised as an approved regulator for many years and this technical measure simply provides it the regulatory framework to start regulating and authorising probate activities.
‘We welcome the ACCA starting to use its authorised status and see this as a positive contribution to the range of services and service providers in the legal services market.’