The problems with unregulated wills
There has been a significant rise in the number of unregulated will writing companies in the UK and this is something that we should all be concerned about. With prices designed to undercut the vast majority of legal firms, these will writing companies are producing wills that unfortunately do not cover anywhere near the level of detail that is required when a will is drafted and, as found to many people’s cost, have caused numerous problems later on when the wills have been read.
One of the biggest problems that people who have had had their will written by an unregulated will writing company face is that they will have no legal recourse should anything go wrong. More often than not, these types of companies are uninsured so if a will is disputed because of inaccuracies, the chances of receiving any legal compensation is very remote.
Typical mistakes that happen with unregulated wills include the following:
– Major discrepancies with how the will has been witnessed – there should be two independent witnesses who, under no circumstances, will be beneficiaries of the will. They also need to have seen the testator sign the will for it to be legally valid.
– Problems with how beneficiaries and assets have been described – not enough detail or clarity provided therefore leaving the will open to be contested.
– Legacy issues – problems with how the will has been worded which means that it could be open to various interpretations.
It is estimated that unregulated will companies make up around 13% of the overall wills market and a similar percentage of people prepare their own wills using will writing kits.
Don’t leave it to chance
A will is too important to leave to chance so you should always seek professional advice from solicitors who are regulated to perform the task. Contact us now for more information about creating a will that protects the interest of you and your family, leaving nothing to misinterpretation.
At HS Lawyers we are experts and qualified in all aspects of making a will. We ensure any course of action when getting a will written is both cost effective and workable for our clients. Our Private client department at HS Lawyers cover all aspects of wills involved from drafting a will and trusts to the administration and distribution of estates. Our trusts and estate solicitors have extensive experience in drawing up wills and dealing with estates, both large and small scale. At HS Lawyers your matter will be handled by one of our legal experts who are qualified and experienced and specialise in private client work. If you are looking to consult a legal expert regarding a will or estate planning matter you can contact our trusts and estates specialists based in West Bromwich (Birmingham), Wolverhampton and Peterborough by calling us on 0121 525 2555.