Will writing services are alternatives to having your Will drawn up by a solicitor or writing it yourself. Often cheaper than approaching a legal firm, these services come hand-in-hand with several benefits.
Why Will Writing Services Are Not Regulated
The Solicitors Regulation Authority (SRA) regulates solicitors, which protects the testator from mistakes in the Will. Any legal issues that arise, such as a question of mental capacity, can be resolved by complaining to the law firm. The testator will then have indemnity insurance if anything goes wrong.
Although this body does not regulate Will writing services, in 2013, the Legal Services Board recommended that Will writing should be regulated to protect those who use them. However, it was ultimately decided not to bring them under regulation.
This doesn’t mean that Will writing services are completely unregulated. Several independent bodies regulate the industry, including the Society of Will Writers and the Society of Trust and Estate Practitioners. The Society of Will Writers also provides professional indemnity insurance to offer compensation if anything goes wrong.
Other bodies that can regulate Will writing services include the National Association of Licensed Paralegals, who represent paralegals involved in providing these services.
Benefits of Using a Will Writing Service
Will writing services are an excellent choice for many people looking to create a Will. Some of the key benefits include:
- Will writing services are cheaper than solicitors – Solicitor costs can be steep. However, Will writing services are often much more affordable. Even if you use a Will writing service, you will be able to access legal advice, and you may have the opportunity to send your Will to solicitors for review.
- Professional Will writers allow you to work at your own pace – Using a Will writing service means that you can work through your wishes in your own time, without having to rush through a short appointment.
- You can create a Will online – Some may not feel comfortable drawing up a Will face-to-face. As a result, Will writing services often provide fully remote services that allow people to create Wills at home. In England and Wales, Wills can also be witnessed remotely.
- You can access expert legal advice – Although the Legal Services Board does not regulate Will writing services, you can still ask them for legal advice. Be sure to check that they are reviewed by a body such as the Society of Will Writers and have insurance to cover costs if anything goes wrong.
What To Know Before Using a Will Writing Service
Before you contact a Will writing service, there are several things that you should know about your estate:
- Your assets – Make a list of all the assets included in your estate, such as property, cars, stocks, and pensions.
- Mortgages and loans – Are there any loans and mortgages that you are still paying off? Make a note of this, and be sure to inform your Will writer.
- Who should inherit your estate? – Have a list of beneficiaries who will inherit your estate prepared. Those who you appoint as Executors can also be beneficiaries. However, witnesses cannot be beneficiaries.
- Who could execute your estate? – Your Executor is the person who will handle your affairs after you pass away. Executing an estate can be complicated, so it is essential to select someone capable of the responsibility. Your Will writer may be able to provide advice about who a suitable Executor may be, as the more complex your estate is, the more difficult it will be to execute.
- Who should witness your Will? – You need two witnesses to make your Will legally binding. Witnesses cannot be your spouse, any of your beneficiaries, or any of your beneficiaries’ spouses, so consider who may be suitable to be a witness. Good witnesses could be a colleague, neighbour, or professional.
If you are unsure about any of this information, your Will writer will be able to provide advice and information.
Conclusion
Hearing that Will writing services are unregulated sounds scary. However, the best services are committed to governing bodies, carry insurance to protect each client, and employ legal professionals to give the best advice.
Using a professional Will writing service is an excellent way to create a legally binding Will without paying the costs of a solicitor. They still provide qualified legal advice and ensure that your Will is watertight so your wishes can be carried out after your death.
The Planning Bee is a member of the Society of Will Writers, the Society of Trust and Estate Planning Practitioners, the Institute of Paralegals, and the National Association of Licensed Paralegals. We also carry £2m of professional indemnity insurance so you can rest easy knowing that you are receiving expert advice and are fully covered in the case of any mistakes.
Ready to create your Will? Contact us today for a free, zero-obligation chat with our expert paralegals.