STEP stands for the Society for Trust and Estate Practitioners. STEP itself is a professional body which promotes high professional standards. A professional who has achieved full membership of STEP is therefore known as a “Trust and Estate Practitioner” i.e. “TEP”.
Such a legal professional specialises in inheritance and succession planning and dealing with drafting Wills and Trusts, administering estates, acting as Trustees and advising families on how best to structure their finances to ensure compliance and preserve their assets for future generations.
Swinburne Maddison is proud to have multiple STEP-qualified Solicitors in their Private Client team and is therefore pleased to be able to reassure clients that the department provides top-class advice and services.
Gaining full STEP membership is something that many Private Client Solicitors and professionals strive for and which, is not easy to achieve. Inevitably, it therefore provides the professional with the highest level of credibility.
Becoming a TEP
The process is rigorous and involves a minimum of four exams in relevant fields such as Taxation of Trusts and Estates and Trust and Estate Accounting. It also involves a minimum of two years of practical experience in the field. Therefore, a professional who has achieved this benchmark has shown not only their knowledge but also their passion towards this area of the law.
The STEP Diploma in Trusts and Estates equips the professional with knowledge and skills recognised throughout the industry. The STEP membership also provides the professional with training and updates in the field which ensures that they are and continue to be highly qualified in the area.
STEP also holds its members to a strict Code of Conduct and the STEP Standard Provisions of Best Practice. This ensures that the practitioner is held to a high ethical standard and are driven to act in the best interests of every client they meet.
Why choose a TEP as your Solicitor
According to STEP themselves:-
“Choosing a professional to help you to deal with such important and often sensitive issues can be difficult. Many aspects of planning are non-regulated, meaning anyone can write a will, for example, regardless of training or expertise. With a TEP, you’re in safe hands.
- Expertise: TEPs are recognised experts in their field, with proven qualifications and experience. By joining STEP and maintaining their membership they have also shown significant commitment to their continued professional development in this specialist area.
- Integrity: TEPs are subject to an extensive Code of Professional Conduct, requiring them to act with integrity and in a manner that inspires the confidence, respect and trust of their clients and of the wider community. In England and Wales, STEP members who draft wills are also bound by STEP’s Will Code.
- Knowledge: TEPs are required to maintain and develop the knowledge and skills relevant to their role as a condition of their continued membership. This means TEPs will always be up to date with the latest legal, technical and regulatory developments that may affect you and your situation.
- Connections: TEPs have access to a global network of 21,000 advisors and professionals, enabling them to share knowledge and expertise across professional and geographic boundaries and to offer a joined-up service that can really add value to you as a client.”
All of the above means that the TEP Solicitor is able to use their ever-growing knowledge to provide top-tier advice and support to clients.
Swinburne Maddison’s Private Client Solicitors are STEP qualified and we look forward to continuing to encourage trainee Solicitors to begin their journey of becoming a full member of TEP when they reach qualification as a Solicitor. We feel it has a real benefit to the firm and clients alike. For more information please do not hesitate to speak to your lawyer, or click here to visit the STEP website.
Are you a STEP Lawyer?
We are currently recruiting for a Private Client Lawyer to join our team who has a minimum of four years of qualification and is STEP Qualified. To apply for this vacancy please click here to visit our careers page.
