Travel agents, car dealers, estate agents – it’s common place to make sure that the person you’re relying on to book your holiday, buy a car or even a house from is regulated by their industry watchdog to give you peace of mind.
But when it comes to important legal issues like making a will, around 65,000 of them a year are being drafted by unregulated providers of wills and estate administration, mainly sole traders.
Will Jones, a solicitor in the Wills, Probate & Lifetime Planning department at FBC Manby Bowdler, explains why you shouldn’t gamble with this crucial part of your life planning:
“Putting your affairs in order and drafting a will is one of the most sensible things you can do but around 73 per cent of 16 to 54-year-olds don't have a will, while only 64 per cent of people over the age of 55 have made their final wishes clear.
“If you don’t specify how you want your estate and property divided in a will, your wishes may not be carried out and that could have a profound effect on your family and friends. What is concerning is that so many people are turning to will writers who can offer no guarantee or support in case of a dispute or error.
“They may be attracted by the lower price tag – the average price of a single will drawn up by an unregulated provider is around £40 – but that could prove to be a false economy if they make a mistake which leads to problems administering your estate.
“A lawyer, backed by their professional standards and indemnity insurance, provides a layer of consumer protection that you won’t get from an unregulated provider. You wouldn’t take the risk with a holiday so why take the risk with your will.”
Will added: “Using a lawyer is not as expensive as people think, so it is worth shopping around and to ask for a few quotes from professional firms.
The professional firms will be able to provide the reassurance of an experienced and established provider, backed by the consumer protection unique to a law firm.”
Follow this link to find out more about the Will making services offered by FBC Manby Bowdler.