At the end of last year, the Legal Services Board recommended that members of the Institute of Chartered Accountant in England and Wales also be allowed to practice in this area. In the past, the Lord Chancellor has tended to take about three months to decide on such recommendations. If the decision were a positive one then it would need to go through parliament before, probably, taking effect later this year or in 2015.
Very acceptable profits
Joe Reevy, managing director of Best Practice Online, says that the accountants are regarding this expected extension of their work as 'a potential bonanza'. He says that accountants 'have already created the necessary processes and work flows and they believe they can do non-contested probate for 30 per cent less than the local legal profession… and still make very acceptable profits'. Source: Legal Futures
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