You may be considering creating a new Will. There are a wealth of companies out there who all seemingly offer the same thing but for very different prices. Like all things, the difference is usually in the detail.
Using a Will Writer to draft your Will
Whilst seemingly offering the same service as a solicitor, using a Will Writer to make your Will has some crucial differences:
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Lack of a standardised qualification
Solicitors must undergo a rigorous legal education lasting a minimum of six years – including two years of practical, on-the-job training.
With Will Writers, there is no standard level of training. Some may have completed a short course, others may have some form of qualification and others may have no qualifications at all. There is no guarantee that they have the in-depth knowledge required to make sure that your wishes in your Will are correctly prepared.
At Nelsons, we have teams in our Nottingham, Derby, and Leicester offices who specialise in advising on Wills, Lasting Powers of Attorney, Trusts and Estate Administration.
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Lack of regulation and insurance
Solicitors are heavily regulated by the Solicitors Regulation Authority (SRA). As part of this they have to carry professional indemnity insurance so that if the worst happens and they make a mistake, there are funds available to the aggrieved client.
Will Writers are not regulated and don’t have to carry insurance. If they make a mistake, there’s no guarantee of funds available to put things right.
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If the company goes under
If a solicitors’ firm goes into administration the SRA will take over the storage and care of the documents if required.
With Will Writers there is no governing body and no one who is obliged to look after important legal documentation should the company go into administration.
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Cost and storage
While a Will Writer can look like good value initially, commonly there are hidden extras. It is not uncommon for a Will Writer to make a yearly charge for storing your documents.
At Nelsons, we consider the storage of the documents a part of the service we offer you and we do not make an ongoing charge to store your documents.
Ensuring that your loved ones are provided for after your death is something which you should trust to someone who is trained, experienced, regulated, and insured. You need to give careful consideration to the person that you entrust with making your Will to make matters simpler for your loved ones after you’ve gone.
How Nelsons can help
Jane Sutherland is a Partner in our expert Wills, Trusts & Probate team.
For more advice or information in relation to making or updating a Will, please contact Jane or another member of the team in Derby, Leicester or Nottingham on 0800 024 1976 or via our online form.