In October the Law Society of England & Wales published a damning report on their findings concerning Will writing companies and a Welsh consumer programme aired a “Watchdog” style enquiry into the actions of a Will writer against a member of the public.
It was found that the service provided by these individuals and companies was untruthful, expensive, shoddy and pointless. Furthermore they found that the public is being exposed to unregulated, unqualified and uninsured Will writers.
You, yourself, may well have been approached by a Will writer with promises of cheap Wills and cheap advice together with adverse remarks about solicitors and their charges. By all means listen but beware of the catches.
In the current economic climate, it is understandable that we should try and keep our expenditure to a minimum and shop around. But, beware of false economies. It will be too late when your family have to pick up the costs of putting things right.
As a Dorset Solicitor I am regulated by the Solicitors Regulation Authority. I am a Trust and Estate Practitioner and a Member of Solicitors For The Elderly. I specialise in Wills, Probate, Trusts and the Court of Protection and so am very aware of the quantity and quality of advice needed when preparing Wills. My advice will often include aspects of income tax, capital gains tax, inheritance tax and trust law, when relevant. My qualifications as a will lawyer and experience tell me when that advice is necessary. Can the same be said for Will writers?
As a Member of Solicitors For The Elderly, I am in constant contact with fellow members across the country swapping horror stories about Will writers.
“That’s just solicitors moaning about competition” I hear you say. Not so. I am more than happy for you to compare my services against Will writers, just confirm that what they tell you is true.
Here are some factual stories relayed to members of Solicitors For The Elderly by their clients:
1) Will offered for £49 but an upfront storage fee of £600 and further fees on retrieving the Will on death – My fee for a straightforward Will is £125 plus vat and free storage
2) Solicitors must be instructed to deal with estates and they charge 7% of the estate – Anyone can deal with the Estate and my fees are agreed with you beforehand and detailed – never at 7%, nearer 2% - I can offer a fixed fee or hourly rate.
3) A property trust can be prepared for £500 “saving care fees” – Sadly not true. Local Authorities successfully challenge these trusts – all you do is waste money in setting them up – by carefully wording Wills savings can be made.
A Will writing organisation, the Fellowship of Professional Will writers and Probate Practitioners is currently applying to become a Will writing regulator. The FPWPP was created by a company called Estate Protection Services which prior to September 2008 traded as Solicitors Probate Services (SPS). In June 2008 the Solicitors Regulatory Authority banned SPS from Probate services and intervened in the practice of Stephen Share an SPS director.
In the High Court, July 2008, Justice Patten stated:
“the business of SPS is simply a moneymaking exercise in which the clients’ interests are regarded as anything but paramount”, and that “the sales methods (of SPS) are calculated to prey on their (clients’) fears”
Unregulated, Unqualified and Uninsured –v- Regulated, Qualified and Insured, mmm, that’s a toughie!
Michael Micklethwait is a trained Solicitor and Associate at Humphries Kirk. If you have any questions you would like to ask Michael as a result of reading this article then please contact him on 01929 552141 or email m.micklethwait@hklaw.eu