“The CMA investigation is reported to be as a result of a series of concerning complaints from consumers who had suffered considerable harm at the hands of unregulated Will-writing providers. Solicitors are regulated and held to an extremely high professional standard by the Solicitors Regulatory Authority and are bound by the requirements placed on them to keep documents and files for a certain period of time. However, Will-writing services can be provided by non-solicitors who are unregulated and are not bound by the same levels of regulation. Concerns were therefore raised by the CMA about the potential risk to individuals, many of whom may be elderly and/or vulnerable.
The initial research and the investigation conducted by the CMA uncovered numerous areas for concern and breaches of consumer protection law. This included misleading advertising, unfair contract terms, pressure selling, a lack of transparency in relation to charges and products being sold to consumers that were unsuitable for their needs. As a result, the CMA has published guidance for businesses operating in this unregulated sector to help them understand and comply with consumer law. The CMA have also published guidance for consumers setting out what they should consider and look out for when buying Will-writing services.”
It is essential that anyone who owns assets should draw up a Will. Studies show that there is a clear gap in the public’s knowledge as to how their estates will pass on to their relatives should they not have a Will in place.
Individuals have a range of options when considering how to capture their testamentary wishes. They may wish to write a Will themselves, instruct an unregulated professional to do so for them or instruct a regulated professional, such as a solicitor.
As a solicitor specialising in Wills, trust and inheritance disputes I have witnessed first-hand how such cases can go wrong. This may be because the requirements of executing the Will have not been met, the provisions of the Will are void for uncertainty or a claim is made against the estate – all of which may end in the estate being distributed contrary to the testator’s wishes. As a result, there are extremely limited circumstances when I would suggest making a homemade Will and this would be reserved to very small estates with simple assets and family dynamics.”
For more information about unregulated will-writings please contact Partner Cathryn Culverhouse.
