Inquiry sanctioned on behalf of the Fellowship of Professional Will Writers and Probate Practitioners and published recently shows an terrifying 67% of clients believe that all will writers are solicitors. They unquestionably are not.
What’s worse, 82% of the consumers are under the opinion that Will Writers have proper training and qualifications. Clients can be left at the mercy of unscrupulous Will Writers frequently with no compensation if anything goes wrong.One such Will Writer, who was not a solicitor, was jailed for 8 years at Bristol Crown Court in October last year. He advertised himself as a financial adviser with a "home wills" business.
He preyed on widows who had no kids, and ensured he was made an executor in their Wills. He was able to rip off £800,000 from 3 of his customers. The money designated for charity and caring for the sick, was instead diverted to his own account.Authentic will writers are supposed to stick to the following guidelines: the should be practicing lawyers, they are regulated by the Solicitors Regulation Authority; and they should be capable to provide a minimum amount of £2,000,000 for indemnity. The price which will be incurred by having your will drawn by a solicitor will depend on how complicated your last requests are. Now, you have the choice to have your will done on-line; thru the post; or you can even have one tailor-made for you, complete with inheritance tax advice.
In another case, the news of a mother and children being refused a share of their son’s and father’s estate rams home the perils of not keeping your Will bang up to date.
What he considered was a simple agreement between him and his estranged wife resulted in his other relatives being disinherited. The moral of the story is to check with the solicitor who made your Will, that there are no pitfalls or possible problems in what you try to achieve.
Constantly ask for your solicitor’s counsel when making alterations in your will. Most solicitors would not make a charge for general advice of this nature, so there really is no reason in not enquiring. Keep in mind that if you plan ahead, your heirs will not have to face unanticipated financial difficulties. Lawyers have expended many years establishing up a huge bank of confidence with the populace. Is it really worth the risk of having a Will prepared by someone other than your lawyer?