News

Profession Sees Sharp Dip in Share of Probate Market

There has been a marked dip in the profession's share of the probate market, with grants issued to solicitors dropping by 30% over the past 5 years, the Law Society Gazette has reported.

The figures, released by the Probate Service - part of HM Courts and Tribunals, show that the majority share in the probate market is no longer commanded by the legal profession, who only received 44% of probate grants issued in the last year, but by private individuals to whom 56% of grants were issued.

The concern lies in the fact that the increase in wills not professionally drafted comes with a commensurate increase in the number of faulty wills - the number of wills coming to probate in 2011 that had failed to appoint an executor or had appointed an executor who was unable or unwilling to administer the estate had risen by 5% on 2010 to 15,553.

Visit the Law Society Gazette for the full story.

These figures highlight the need for regulation in the will-writing profession, to eliminate the mis-drafting of wills. Until the event of such regulation, however, for peace of mind that your beneficiaries are properly cared for after your death it is vitally important that professional advice be sought from a qualified will-writing professional.

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Regulated Will-Writing a Step Closer

Following investigations by the Legal Services Board (LSB) which found will-writing and estate administration services to be below par, recommendations are to be made to the Lord Chancellor that these be made "reserved activities."

Proposals would result in all providers of such services being regulated to provide greater consumer protection in the light of "consistent patterns of sloppiness, simple errors and poor communication," often resulting in an "unacceptable service".

Additionally, regulation would protect consumers against unfair sales practices, fraud and deception, which were uncovered "all too often" in the investigation.

Visit the Law Society Gazette for the full story.

The LSB has said its proposals are designed to ensure a baseline of protection for consumers, effective regulation, and to enable competition and innovation.

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Intestacy Law Reform to Help Cohabitants

Proposed changes to inheritance laws are set to benefit the children, spouses and cohabitants of those who die intestate, reports the Law Society Gazette.

The new proposals published by the Law Commission include the granting of greater rights to the surviving partner and children of unmarried couples, espousing a simpler form of sharing of estates.

Professor Elizabeth Cooke, law commissioner leading the inheritance rules project, said that the proposals would "benefit many thousands of people at one of the most difficult times of their lives."

"At the same time," she added, "they preserve one of our most important freedoms, namely the right to choose to whom we leave property by will."

Visit the Law Society Gazette for the full story.

Current intestacy rules date back to 1925, presenting an anachronism to modern society. The new proposals have followed extensive research and consultation on how the law of inheritance should operate in the twenty first century.

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Research Shows “Incompetence” in Will Writing

The Law Society Gazette reports that research carried out by the Society of Trust and Estate Practitioners (STEP) into the will-writing market has revealed "incompetence or dishonesty" in two-thirds of cases.

The study revealed cases wherein there were hidden fees not outlined in the stated price of a will; where will-writing companies had gone out of business, their clients' wills disappearing with them; and where incompetence had led to sygnificantly higher tax bills.

Visit the Law Society Gazette for the full story.

The study has prompted STEP to renew its calls for better consumer protection.

The Legal Services Board has been engaged in a review of unregulated will-writing, seeking evidence of consumer harm. The Scottish parliament similarly has been going through the process of regulating non-lawyer will-writers through the Legal Services (Scotland) Bill.

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Office of Fair Trading Approves “Toothless” Will-Writing Code

The Law Society Gazette reports that a new code for will-writing practice by non-lawyers, as approved by the Office of Fair Trading (OFT), has been branded as "without teeth" by probate solicitors.

While under the new code of practice, Institute of Professional Willwriters (IPW) members will have to pass an entrance exam and complete ongoing professional training, the code lacks serious sanctions. For instance, should an IPW member be expelled for misconduct, there is no provision to prevent them from just carrying on writing wills regardless; or, should a will-writing company go bankrupt, there would be no safety net. As Helen Clarke, chair of the Law Society’s wills & equity committee, explains: "When a law firm folds, the Law Society intervenes and the profession takes on the cost. The IPW code contains no such provision."

Visit the Law Society Gazette for the full story.

A Law Society spokeswoman said: "While a code of conduct is important in providing quality assurance, anything short of regulation is not providing the most appropriate safeguards for the consumer.

"The consumer needs to be protected and know that any person writing their will is adequately trained, insured, protected against dishonesty, has a complaints and disciplinary mechanism in place, and remedies are available when needed.

"These are all key elements that form part of the solicitors’ regulatory model. Solicitors have the training, knowledge and protections in place to ensure that consumers are provided with a professional service, with safeguards to protect the consumer in place. Until will-writing becomes a regulated activity, the same standards cannot be guaranteed by all will-writers."

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