A study was made in behalf of the Fellowship of Professional Will Writers and Probate Practitioners, which established that 67% of consumers are under the impression that all will writers are lawyers. They emphatically are not.
Even more worrying, is that 82% of consumers thought that Will Writers had appropriate education and aptitude. Consumers can be left at the mercy of unprincipled Will Writers often with no indemnity if anything goes wrong.One such Will Writer, who was not a lawyer, was jailed for 8 years at Bristol Crown Court in October last year. He promoted himself as a financial consultant with a "home wills" business.
His victims are usually widows who have no inheritors whom he convinces to make him the executor of their wills. He was able to rip off £800,000 from 3 of his clients. The money designated for charity and caring for the sick, was instead diverted to his own account.Genuine will writers are supposed to adhere to the following guidelines: the should be practicing lawyers, they are governed by the Solicitors Regulation Authority; and they should be capable to put up a minimum amount of £2,000,000 for insurance. The cost which will be incurred by having your will made by a solicitor will depend on how complex 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 custom-made for you, complete with inheritance tax advice.
In another case, the news of a mother and children being denied a share of their son’s and father’s estate rams home the perils of not keeping your Will bang updated.
What he considered was a simple understanding between him and his estranged wife resulted in his other relatives being disowned. The lesson of the story is to check with the lawyer who made your Will, that there are no downsides or potential troubles in what you seek to accomplish.
Always ask for your solicitor’s advise when making alterations in your will. Most solicitors would not make a bill for general advice of this nature, so there really is no excuse in not asking. Keep in mind that if you plan ahead, your heirs will not have to confront unforeseen financial troubles. The solicitors’ standing are based on public confidence. Is it really worth the risk of having a Will prepared by someone other than your solicitor?