A Will is an extremely important legal document and passing on your assets on death will likely be one of the biggest financial arrangements of your life.
You may be considering instructing a Will Writer to prepare your Will for you, at the fraction of the price that it would cost to instruct a qualified solicitor to prepare your Will.
We all like to save money where we can, but what is the true cost of instructing a Will Writer to prepare your Will as opposed to a solicitor. There have been stories in the press of poorly drafted Wills, hidden fees, missing Wills and so on.
Solicitors are regulated by the Solicitors Regulation Authority (SRA) and must abide by the SRA’s Code of Conduct, a list of professional ethics and standards. This requires solicitors to act with integrity and in the best interests of their clients. On the other hand, Will Writers are not regulated like solicitors and some may not even be legally qualified. They can in fact just be salesmen trying to sell you something that you do not need, or convince you to do something that is not in your best interests. Worryingly, anyone can themselves a Will Writer.
As solicitors are regulated, you are protected should something go wrong. You may issue a complaint to the Legal Ombudsman if you are not satisfied with how the solicitor has handled your matter. Solicitors must also have indemnity insurance so that if your Will was drafted poorly, the beneficiaries have the ability to claim against the solicitors firm that prepared the Will for any loss resulting from the poorly drafted Will, whereas Will Writers are not obliged to be insured, so redress against them may prove difficult.
When you instruct a solicitor, you will receive reliable legal advice from a qualified professional, taking into account your personal situation and intentions regarding your Will, not simply a piece of paper with your wishes on it. Solicitors get to know you, ask questions about your family and finances to get a complete understanding of, not only what you would like to do, but what would be best for you taking into account legal matters and potential tax implications.
Do not take this decision lightly. It can be an extremely stressful time for our loved ones when we pass away and avoiding further stresses and strains that may be presented by a poorly drafted Will should be a priority. Knowing that your Will has been drafted professionally by a qualified solicitor can ease any concerns that you may have.
Should you wish to discuss your Will with us then please do not hesitate to contact us on 01494 685588.