‘Will writing should be reserved, super-regulator recommends’! This is the opinion of the legal services board who believe Will-writing, Estate Administration and Probate should only be carried out by regulated legal professionals.
Earlier this year the Legal Services Board published their report in respect of these services following a review. It was determined that there were ‘systemic problems with the services delivered by many types of provider’. They found ‘consistent patterns of sloppiness, simple errors and poor communication which often resulted in an unacceptable service for customers’. Too often consumers were subjected to unfair sales practices; even some instances of fraud and deception were uncovered.
Part of the LSB review included a survey whereby 100 people who needed a Will found that 20 per cent of the Wills contained basic errors and some were so poorly drafted that they could not be executed therefore defeating their entire purpose.
We all know that unchecked discretion is open to abuse and often leads to malpractice which is why it is about time regulation is introduced! The Lord Chancellor will make the final decision over whether to introduce the much needed change after hearing the LSB’s final recommendations in early 2013.
Often people seek alternatives to Solicitors in the hope that they may save some money, but in fact Solicitors charge very little for a single straight forward Will, for example we charge £50+ VAT. Many Wills are indeed rather straight forward, but of course only if you know what you are doing! Surely preparing a Will or creating a Trust is one of the most important decisions you ever make therefore it would seem sensible to instruct a regulated legal professional with impeccably high standards!
All information is correct on the date of posting.