What is STEP and why is using a TEP solicitor important?

What is STEP?

STEP is a global professional body for professionals who advise individuals and families. It is widely considered to be the leading professional association for legal practitioners who specialise in helping individuals and families plan for the future. Full STEP members, known as TEPs (Trust and Estate Practitioners), are experts in inheritance and succession planning.

Types of STEP membership

There are three main levels of STEP membership as well as student status.

Student status

This is for people who are studying the entry-level STEP exams. Students are not recognised as members of STEP.

Affiliate member

This is the entry-level membership and the first step in becoming a full TEP. A minimum level of qualifications and experience is required to become an affiliate. Some members choose to remain at this level.

Natasha Yelland is an affiliate member and is currently studying for her STEP Diploma.

Associate Member

This is a mid level membership for those with more experience or those who choose not to proceed to full STEP membership.

Full member (TEP)

This is the top tier of STEP membership. Full Members are qualified practitioners with proven qualifications and experience. Only full members are able to use the TEP designation. TEPs are internationally recognised as experts in their field, with proven qualifications and experience in this area.

Paul ClarkTEP has been a TEP since 2015.

STEP Diploma

The STEP Diploma is considered to be one of the leading diplomas for professionals working in private client and is a globally recognised qualification. The diploma is made up of four Advanced Certificates and they cover areas such as Taxation of Trusts & Estates, and Administration of Estates. The Diploma is studied part time alongside work.

Paul ClarkTEP has completed the STEP Advanced Certificate in Cross Border Estates as well as the STEP Diploma.

Eligibility

Currently, to be eligable to study for the diploma, practitioners must be a member of STEP at a minimum level of Affiliate.

How long does it take to complete?

If one Advanced Certificate is studied at a time, then it would take around two years to complete the diploma.

Frequently asked questions about STEP

1. What is a TEP?

‘TEP’ stands for ‘Trust and Estate Practitioner’ and is the designation given to full members of STEP. Becoming a full member of STEP (and the right use the designation ‘TEP’) requires the applicant to prove they have a combination of specialist qualifications and experience including a significant involvement at a specialist level with inheritance and succession planning. For many people this also involves completing a two year diploma covering topics such as administration of trusts and taxation.

2. How many members of STEP are there?

There are 22,000 members of STEP globally and around 7,000 in the UK.

3. What is the highest level of STEP?

TEP status (full membership) is the highest level of STEP. Associate and Affiliate are the next levels below.

4. Why is it important to use a solicitor who is also a full member of STEP?

Solicitors who are TEPs have chosen to undertake further specialist training and this often this involves completion of a diploma (usually over two years). Before they are eligible to apply for full membership and TEP status they must also demonstrate that they have obtained a minimum of two years mid to senior experience. Once TEP status has been obtained, TEPs are required to continue to develop and maintain the knowledge and skills. This means TEPs will always be up to date on the latest legal, technical and regulatory developments that may affect you and your situation. Solicitors who are also TEPs are recognised as the being at the pinnacle of their profession and leading experts in their field.

5. How do I find a STEP qualified solicitor near me?

If you are looking for a STEP qualifed solicitor in Cheshire, Spall Clark has two STEP members; Paul ClarkTEP and Natasha Yelland. Paul is a full member (TEP) and Natasha is an affiliate member. It is also possible to search for a TEP or other STEP member using STEP’s search directory.

Information in this article has been reproduced from the STEP website. Further information can be found on the STEP website.

 

Our STEP Members

Arrange an appointment with a STEP member solicitor

Our STEP members are available to discuss legal matters such as Wills, Lasting Powers of Attorney, Probate, Trusts and Succession planning.

To book a free initial consultation with Natasha or Paul please call us on 01260 769 639 or email. We offer appointments at our office in Congleton, in your own home or online via Teams.

We look forward to hearing from you.