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Probate Services

We aim to provide a service that will alleviate any of the administrative pressures...

At Compass Accountants, we understand that the passing of a loved one can be an incredibly difficult time therefore we aim to provide a service that will alleviate any of the administrative pressures by efficiently handling all legal and financial affairs.

What is probate?

In essence, Probate and estate administration is the financial and legal process which occurs after someone has died. The purpose of this is to ensure that relevant taxes are collected, any outstanding debts and monies are paid and the remaining assets from the estate are distributed to the relevant beneficiaries.

Compass Accountants is one of only a small number of accountancy firms licensed to carry out probate services by ICAEW (The Institute of Chartered Accountants in England and Wales), and one of even fewer in Fareham and Portsmouth.

As accountants, we are fully qualified and highly experienced in dealing with all aspects of taxation, legislation, assets, liabilities, preparation of accounts and estate planning, and so we consider ourselves to be in the perfect position to assist with such services.

Initial consultation for our probate services is without charge or obligation

If you are interested in booking an appointment for a free consultation for probate services- or would like to ask a question, please feel free to call us on: 01329 844145.

Who can use our probate services?

Our probate services are open to both existing and non-existing clients. If necessary, we are able to carry out work with the deceased’s accountancy firm in order to obtain the necessary legal and financial information.

If the deceased is an existing Compass Accountants client, the process will be even simpler as we will already be aware of their financial circumstances. Our working relationship may well have already entailed the preparation of annual accounts or completing tax returns; meeting up on a regular basis to discuss business and financial affairs; and developing an understanding of background and family- all of which is a vital information throughout the process of the service.

Keeping the costs low

Up until December 2014, the provision of Probate Services was limited to solicitors, who have traditionally charged a percentage of the value of the estate. We work on a fixed fee basis and can offer a real value for money alternative.

At Compass Accountants, we will be able to guide you through the complications of inheritance tax, income tax and capital taxes, ensuring that the amount of tax that needs to be paid from the estate in minimised. Furthermore, we will work with you (and any of the beneficiaries) to set in place plans to minimise their future tax burdens.

To read more about the hidden risks of DIY probate - click here.

Taking care of probate

A client case

Mr G.W, from Emsworth recently appointed Compass Accountants to provide probate services after receiving a recommendation from a funeral director…

 “The idea of an accountancy firm that provides a probate service immediately appealed to me. I know that solicitors also do probate, but accountants know about money- that’s their job. Solicitors also charge a lot of money, so when it comes to finances, I personally think you need an accountant.”

“I also wanted everything to be done professionally. I know that some people attempt to do their own probate, but I didn’t want to take any risks. It’s way too important to be making any mistakes with. Also, the likelihood of you not doing something properly is high. Yes, you can shut down the accounts and get final figures together, but doing probate is like tax- if you are dealing with a government body you need a competent professional. Using a professional means, it’s done properly and done once and that was why I took on Compass’ services.”

“When you consider that the probate process takes around 15 weeks, you don’t want the paperwork to come back because it hasn’t been done properly- only to wait another 15 weeks!”

“Compass made the process very smooth, and there were no issues or problems. Kerry came out to visit me to get everything done- it was an excellent service. I can’t fault it at all.”

“I would highly recommend Compass for their probate services. I was particularly impressed at how they were very clear and upfront with costs of the service. They also go above and beyond to help. For example, my wife and I had joint ownership of our property and so Kerry contacted the land registry and made changes, to ensure I am now on the deeds as Proprietor with Title Absolute, so that was all taken care of by Compass. It had to be done, and if I went to a solicitor to do that, they probably would have charged a lot of money!”

“Kerry is also going to come back to help me to adjust my will in the near future- which is another service they are offering.”

“With all these things, if I really had to, I could probably could do them myself as I’m good with investments, figures and finance- but I wouldn’t be confident – and that’s very important. Compass give me that confidence. I feel assured that I am in capable and safe hands.”

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