PERSONAL LEGAL WILLS, TAX AND ESTATE PLANNING
Law Society Calling for Regulation of all Will Writers22/03/2011
Writing a Will is one of the most important personal decisions that someone will make. At the moment anyone in England and Wales can be a will writer and is not required to have any formal qualifications. If something goes wrong later on, will writers often do not have any consumer protection such as insurance in place. As a result, the Law Society has launched a new campaign to warn all consumers thinking of making a will of the dangers of instructing an unqualified will writer.
The Law Society is now lobbying the Lord Chancellor for all will writers to be regulated to ensure that not only are the individuals competent and able to hold themselves out as will writers, but also if something goes wrong, clients can be recompensed and the mistake addressed.
A negligently drafted will has the potential to cause profound problems for those left behind, resulting in not only delayed administration of the deceased’s estate, but disappointed beneficiaries and high cost to the estate.
The Law Society’s campaign highlights how important it is for consumers thinking of writing a will to instruct a qualified solicitor who can not only advise on complex financial issues, such as inheritance tax and trust planning, but who is also trained and regulated by the Solicitors Regulation Authority. Solicitors by law are required to have adequate indemnity insurance to protect the public if ever a mistake arises.
If you wish to make a will with a qualified solicitor please contact our wills team on 01604 258558.
The Law Society’s campaign booklet, briefing letter and response to the Legal Services Board Consultation can be found on their website at www.lawsociety.org.uk/newsandevents.