Have you checked your Wills?

Wills & Trusts, photo of a grand parent and child

In the UK, Will writing is an unregulated profession which means that anybody can write a Will.  With many Will Writing companies selling Wills and Powers of Attorney, it is more important than ever to ensure that not only is your Will valid, but it is also fit for purpose.

In recent years, we have seen certain types of Will Trusts being sold on the basis that they work to protect your home from possible Care Home fees.  However, without suitable legal advice about rules relating to deprivation of assets, and what Local Authorities may do when faced with breaches of such rules, these Will Trusts may be worthless or potentially lead to increased expenses and taxes.

There are certain circumstances where these types of Will Trusts are appropriate, and can work to protect your assets.  However, it is important to ensure that your legal advisor has assessed the suitability of such Will Trusts, in your particular circumstances, and has provided you with the relevant advice so that you can make an informed decision.

It is not always easy to distinguish these Will Writing companies from Solicitors’ firms, and some of the names can be misleading, and give the impression that they are regulated Solicitors’ firms, when they are not.

The Society of Trust and Estate Practitioners (STEP) previously published a report on the threat posed to the consumer from some Will writers, outlining the following main threats:

The Legal Ombudsman has subsequently criticised the poor service provided by many Will Writers, and also drew attention to the fact that unsatisfied customers of unregulated Will writers have very little recourse.

If you are concerned about any of these issues, then please either contact us on 01323 727321, complete the contact form below or call in to any of our offices to arrange an appointment.  We are able to offer a no obligation initial consultation.

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