A recent survey has highlighted a lack of awareness of the importance of Wills and a misconception that all “Will Writers” are regulated.
If you are thinking of having a Will or updating your current Will these are the questions you need answered before going ahead:
- Is the firm regulated? Unlike Solicitors many “Will Writers” are not subject to compulsory regulation.
- Can they provide related advice, about Inheritance Tax, Care Home fees, Trusts or Lasting Powers of Attorney?
- Do they charge extra for secure storage or retrieval?
- What qualifications and experience do they have?
- Do they have mandatory professional indemnity insurance?
The financial cost of getting a Will wrong could be significant, not to mention the upset and disappointment suffered by loved ones. The defect may not come to light until after your death – too late for you to rectify!
Even a simple Will is easy to get wrong if the person preparing it has not been legally trained.
Anyone can write a Will regardless of training or expertise. Make sure you choose a competent, regulated adviser to write yours.
For advice on your Will please contact Penny Smith at Belcher Frost Solicitors.