Magma is pleased to announce a new addition to its range of client services.

Magma Trusts & Estates Limited is now licensed by the Institute of Chartered Accountants in England & Wales (ICAEW) to carry out the reserved legal activity of non-contentious probate. Whilst we have always been able to assist with certain aspects of the administration of a deceased person’s estate, as accountants and tax advisers we were not previously able to handle an application for a grant of probate. This was historically a reserved legal activity which would need to be carried out by appropriately regulated solicitors or by executors themselves. Following recent changes, the ICAEW is now an approved regulator and licensing authority for probate services. Magma Trusts & Estates Limited has been accredited by the ICAEW to provide these services. David Nash, Partner said “Magma Trust & Estates Limited is our dedicated trust and estate company which works alongside and in conjunction with the other Magma companies which provide accountancy, tax and other advisory services.  Together with are able to offer a seamless and wide range of services to executors on many levels; we can assist with all aspects of the process and provide as much support as needed.” Our services include:

  • Obtaining the grant of probate.
  • Completing the inheritance tax return detailing assets, liabilities and reliefs.
  • Advising on agricultural property relief, business property relief and other available reliefs and elections for inheritance tax.
  • Business and share valuations.
  • Administration of the estate generally.
  • Client account services to assist with the collection of monies and payment of liabilities.
  • Completion of tax returns needed for the deceased person’s estate.
  • Tax compliance and advice over the period of administration of the estate.
  • General advice on post-death planning opportunities, including deeds of variation.
  • Ongoing tax and financial advice for the estate beneficiaries and trusts.

Click here for further information on our probate and estate administration services.