Trust Inheritance Will Writing Service

p2vadgama

Hi,
My first time here.. a little nervous after a visit from Trust Inheritance yesterday. Agreed to do a 'double will' for both my wife and myself for a 50% saving of 49.00... so we only had to pay 49.00.. so where is the catch??

After about an hour and a half, and a lot of legal jargon and the complications involved after a death, we were shown charges from the top 3/4 banks and the % they would charge to 'release' the estate to the living spouse. We were looking at a cost ranging from 15000.00 upto 40000.00...!!

However, the rep later informs us that we do not need to worry about paying these kind of sums at all. Providing ofcourse we take out a 'comprehensive policy' with them at a premium of 2500.00, a one off payment (0% over 12 months, after a deposit of 700). This policy we are told, will cover basically everything in the event of a death.

I am not too sure about this whole thing. Am fully aware ofcourse there are legal complication with estates, inheritance tax etc, and have been trying ot find out if any other company out there are offering similar services? Basically just need advise from anyone who have been involved with Trust Inheritance in the recent past?

Is this a scam???!

Any help advise would be greatly welcomed.

localhero

p2vadgama wrote:

Hi,
My first time here.. a little nervous after a visit from Trust Inheritance yesterday. Agreed to do a 'double will' for both my wife and myself for a 50% saving of 49.00... so we only had to pay 49.00.. so where is the catch??

After about an hour and a half, and a lot of legal jargon and the complications involved after a death, we were shown charges from the top 3/4 banks and the % they would charge to 'release' the estate to the living spouse. We were looking at a cost ranging from 15000.00 upto 40000.00...!!

However, the rep later informs us that we do not need to worry about paying these kind of sums at all. Providing ofcourse we take out a 'comprehensive policy' with them at a premium of 2500.00, a one off payment (0% over 12 months, after a deposit of 700). This policy we are told, will cover basically everything in the event of a death.

I am not too sure about this whole thing. Am fully aware ofcourse there are legal complication with estates, inheritance tax etc, and have been trying ot find out if any other company out there are offering similar services? Basically just need advise from anyone who have been involved with Trust Inheritance in the recent past?

Is this a scam???!

Any help advise would be greatly welcomed.

Hi and welcome to the forum.

The catch is the 49 quid Will is to get them through your door so that they can try and sell you a pre-paid executorship/probate service.

Your executors should be someone you trust (ie a member of your family or friend) who can do the job for nothing. If they need 'professional' help at the time they can and should obtain it.

If you appoint this firm as your executors now then a) Will they be around to fulfil their part of the bargain when you die? and b) if your family feel that they could carry out the task themselves this company is entitled to take up its role.

Even though I do estate administration work myself, in almost 100% of cases I would never advise my clients to appoint a 'professional' as their executor as a) it's unnecessary and b) it's unethical.

I would instead explain exactly what an executor does and let the clients choose someone that is a) fairly sensible; and b) trustworthy. In most cases it will be one or two of the beneficiaries.

Before you decide whether or not you will proceed with this company, I will borrow the excellent analogy from post 18 - ask yourself if you would pay for a car now for delivery in perhaps 20 years time that you probably won't need at the time, from a car company that may not even be around to provide it.

You might also want to read a few threads on the subject in this forum to gain a bit more of an insight. Remember this is a completely unregulated sector - the law allows anyone to be a willwriter with no qualifications, training, insurance or system of redress.

Baggysdad

we were shown charges from the top 3/4 banks and the % they would charge to 'release' the estate to the living spouse. We were looking at a cost ranging from 15000.00 up to 40000.00...

Did they show you any comparison quotes from solicitors?

Probably not.

Banks charge between 4 and 5 times what a solicitor would charge. And that's assuming that you need professional help - it maybe that your executors don't.

Nobody can make a Will and make a profit for £49, or less or even free. So be careful when people (like the host of this site) get all excited about offers which do - beware that all they are doing is pushing you into a hidden agenda - which is usually involvement in the administration of the estate.

have been trying ot find out if any other company out there are offering similar services

There is at least one - Solicitors Probate Services, now called Estate Protection Services. They have also been discussed at length on this forum - and were subject of a show about 6 months ago by ITV 'Tonight with Trevor McDonald'

Is this a scam???!

Scam is probably too strong a word. Is it poor value? Yes.

If you have signed up for anything, you have the right to change your mind within 7 days by giving written notice to the company.

localhero

SWW wrote: »

Remember
· ask to see identification
· ask to see proof of their membership – all our members carry a card and a phone number you can call or go on line to check
· if you have any doubts about the person or the company – say no and look elsewhere
· ask to see a copy of their Professional Indemnity Insurance - a professional will not refuse
· if it looks too good to be true - it usually is

When considering employing a Willwriter I would also recommend asking the additional questions:

• Do they provide details of all their fees prior to the appointment?
• Do they know what they are talking about - i.e. have they sat and passed an examination in Willwriting?
• Is there an independent complaints procedure?
• Are they working to a Code of Practice with independent approval – such as from the OFT?

SWW wrote: »

The Society of Will Writers (SWW) has watched this string develop over a period of time and feels that we should make a statement as to our views on these practices.
There is no need for any person to pay in advance for advice on probate for their appointed executors or to secure what is perceived to be low cost estate administration.
We have seen a growth in the number of companies that offer these services, many costing thousands of pounds, over recent years. It is a practice that the SWW has for many years, outlawed.
Any member company or individual who offers such a service and cannot show that these advance fees are in some way ‘ring fenced’ for the future has their membership revoked.

missinthy wrote: »

However, WSL also promoted a Lifetime Service which I unwittingly signed up to based on their "advice" without giving it as much thought as I should have (the will writing advisor person was extremely good).
The Lifetime Service does three things -

1) WSL store the will in their super safe vaults that have all the bells and whistles you can think off,

2) they have a probate service whereby the executors of a will will
have legal advice from a WSL expert legal advisor who will guide the
executor through the probate service, and

3) the lifetime service allows the purchaser (me) to change their will
or get a new one for free an unlimited number of times for the rest of
their life.
I would just like opinions on whether that £850 is worthwhile or good
value for money for the service they provide. WSL-Ltd are part of the
Society of Will Writers and apparently this lifetime service is
guaranteed by that Society (not sure how legitimate they are) so if
they fail then its no loss to me as my service would still exist.

Having read your statement with interest, perhaps you would be kind enough to provide us with the Society of Willwriters stance in connection with a firm mentioned on this thread who claim to be one of your members.

• Can you confirm that the company mentioned in the above quote and post 50 of this thread for their pushy sales tactics are members of the SWW as they claim to be? http://www.wsl-ltd.co.uk/
• If so, could you confirm that payments for the lifetime services mentioned on their website are 'suitably ring fenced'.
• What does suitably ring fenced mean exactly?
• Do you feel that such pushy sales tactics are acceptable and ethical?
• In view of the fact that the most common defect with a Will is its not being signed/witnessed correctly, do you approve of the company's practice of not being present when the Will is signed? (step 4) http://www.wsl-ltd.co.uk/step.htm Their site says: "Our legal department will then send you your will for your approval, which you will receive in 21 working days time. You’ll receive this, in tamper-proof packaging, for it to be signed and witnessed, with clear guidelines on how to go about this."

sloughflint

Considering the apparent interest in the thread, the lack of reply to the last post from the Society of Will Writers is pretty unimpressive.

SWW wrote: »

It is a practice that the SWW has for many years, outlawed.

Any member company or individual who offers such a service and cannot show that these advance fees are in some way ‘ring fenced’ for the future has their membership revoked.

One certainly seems to have slipped through the net.

I now see the post for what it really is. The familiar signs are all there:

The thread suddenly gets resurrected two months after the last posting on it:

SWW wrote: »

The Society of Will Writers (SWW) has watched this string develop over a period of time and feels that we should make a statement as to our views on these practices.

Lots of positive noises ( or is that just hot air?):

SWW wrote: »

The SWW would be pleased to hear directly from any person who has had the misfortune to have had dealings with any company, member or not, and has paid out large sums in advance fees with no guarantees for the provision of future services.

And here we have the real message:

SWW wrote: »

Should you wish to contact us at the Society of Will Writers, please google Willwriters.

Nothing more than blatant :spam:

sloughflint

RiskyBusiness wrote: »

Yes the name is correct but as it has only recently changed it may not appear anywhere yet.
Not only that but they are also in the process of writing a training manual for willwriters. They have been in discussions with City & Guilds and will be the only registered City & Guilds approved training company for willwriters in the country.

It looks as though you were quite right with this,Riskybusiness. Another old thread has been updated with the following:

value_seeker wrote: »

You are quite correct to point out lack of regulation in this field local hero.
SPS Ltd has now changed its name to Estate Protection Services Ltd and on their latest ad leaflets they state they are founder members of some organisation called the Fellowship of Professional Willwriters and Probate Practioners, and also print the logos of 'legtec training' and Association of Legal Technicians. BUYER BEWARE! They are currently charging £49 for a basic will, where as any decent solicitor would quote about £100 for a decently composed comprehensive document. Also no mention is made on the current literature of the ESTATE INSURANCE AGREEMENT which one supposes is where the money is made!! Advice: Don't even consider this.

The good news is that it is possible to claim the excessive prepaid probate fees back (with effort):

value_seeker wrote: »

Just to let everyone know that it is possible to get your money back from SPS now trading as EPS Ltd. It took some time and some strong letters to reach a positive outcome. The standard of their reply was nothing less than shocking and from someone with a very poor grasp of the English language.
If anyone wants any further help or details please contact me directly.

And even better news is that members of what appears to be the only decent will-writing organisation are not tempted to join this latest 'organisation' to emerge:

localhero wrote: »

As well as the law allowing anyone to advise upon and to draw up Wills, there is also nothing stopping someone creating a professional looking `badge` to provide a bit of credibility to an unsuspecting public.

I, and (as far as I know) all of my colleagues have declined the overtures from this outfit to join up as members.

There is also the Society of Willwriters who having talked of their own high standards on this forum didn't have the courtesy to respond to my questions regarding their stance towards one of their members behaving unethically.

Here's the thread: http://forums.moneysavingexpert.com/showthread.html?t=805099&highlight=wills

The only Willwriting organisation that truly represents the interests of the consumer against the unethical and incompetent is the Institute of Professional Willwriters.

Unfortunately with the law allowing any Tom, !!!!!! or Harry being allowed to call themselves a Willwriter, and the good guys getting tarred with the same brush as the bad guys, solicitors remain the default position for those requiring a Will.

It's worth reminding ourselves that unlike the IPW, solicitors are not required to undertake any compulsory exams in preparing Wills as part of their education or training, and the fact this forum is littered with examples of solicitor incompetence in this area bears that out.

The unsuspecting consumer really deserves better than this. It really is a shocking state of affairs and is a real lottery if any given Will is `fit for purpose`.

How I wish this whole area would be regulated.

monkey_spank

SWW wrote: »

The Society of Will Writers (SWW) has watched this string develop over a period of time and feels that we should make a statement as to our views on these practices.
There is no need for any person to pay in advance for advice on probate for their appointed executors or to secure what is perceived to be low cost estate administration.... It is a practice that the SWW has for many years, outlawed.
Any member company or individual who offers such a service and cannot show that these advance fees are in some way ‘ring fenced’ for the future has their membership revoked.

The Society of Willwriters also reassuringly states this on its website:

"The Society of WillWriters is a non-profit making self regulatory organisation which seeks to Protect the Public and serve the interests of those men and women who are active professionals in our field."

The SWW which as a will writing organisation among several including the Institute of Professional Willwriters (there are even more - but these are the main two) decided to enter the forum to tell us all about how ethical it is and how upfront payments for probate services are outlawed among its members - all well and good.

Yet when local hero raised questions about one of its members charging £850 to a poster for spurious 'lifetime services' - among other undesirable practices - instead of condemning the practices and kicking out its member, it conveniently chose to ignore the questions.

This confirms my suspicions about what a second rate organisation this is. Happy to talk the talk, but unable to walk the walk. Protection of the public? What a joke - I think its greater priority out of the two aims of its mission statement is "to serve the interests of those men and women who are active professionals in our field"

The will writing profession is in such a sorry state and the government should kick all the cowboys out of business. Thank heavens we at least have the IPW who are taking things seriously. Incidently their site says this:

"The Institute of Professional Willwriters was founded in 1991 as a self-regulatory body to safeguard the public from unqualified practitioners and unethical business practices.
Membership is available only to those who pass the IPW entrance examination, or an equivalent run by the Law Society, the Institute of Legal Executives or the Chartered Institute of Bankers. Members are required to update their knowledge and skills annually through a programme of Continuing Professional Development in order to retain their practising certificate.
All IPW members have Professional Indemnity Insurance cover to a minimum of £2 million, and subscribe to a rigorous Code of Practice backed up by a disciplinary code.
Clients can be assured that, by dealing with an IPW member, they will receive a service that is professional, ethical and competent."

Very reassuring. :T

For what it's worth here's what the SWW approves of and failed to explain how this money paid upfront is 'suitably ringfinced' : :eek:

missinthy wrote: »

Hi there,

I saw a booth/stand for WSL-Ltd in my local shopping centre and decided to give them a try - turns out WSL's standard will service is £110 for a single will which includes a home visit to go over the persons' needs/finances and to produce the will. I dont think that's too bad a price compared to solicitors' fees.

However, WSL also promoted a Lifetime Service which I unwittingly signed up to based on their "advice" without giving it as much thought as I should have (the will writing advisor person was extremely good). The Lifetime Service does three things -

1) WSL store the will in their super safe vaults that have all the bells and whistles you can think off,
2) they have a probate service whereby the executors of a will will have legal advice from a WSL expert legal advisor who will guide the executor through the probate service, and
3) the lifetime service allows the purchaser (me) to change their will or get a new one for free an unlimited number of times for the rest of their life.

I would just like opinions on whether that £850 is worthwhile or good value for money for the service they provide. WSL-Ltd are part of the Society of Will Writers and apparently this lifetime service is guaranteed by that Society (not sure how legitimate they are) so if they fail then its no loss to me as my service would still exist.

http://www.wsl-ltd.co.uk/

a_close_shave

Googled trustinheritance and directly under the glowing testimonials was this thread.Thanks for the warning.

Slubberd

Heads up to this thread.

My partner received a phonecall today from this company asking to speak to me. They are calling me back later and now...I'm well prepared.

Has it always been that companies are so dodgy....?

money_smart

Yesterday morning i was dismissed by this company (EPS) for not bringing in the sales as a 'consultant' after a month of working for the company...nothing more than a sales company. I wouldn't have brought a will from them & it's a bit of a joke that they're advertising for 'ethical will writers' ... this company are ANYTHING BUT ethical! They will charge for anything other than a 'standard will' & their prices have just GONE UP-i recieved the new price structure in the post last week of which to set up a childrens trust is 30 pound, p.p. Powers of attorney has gone up by a 100 pounds to 400 in total p.p! To avoid care home fees is something they like to push as it's a big money maker for them with proprty transfers, charges to handle stamp duty & anyother charge they can. They are still pushing their 'insurance' which is crap as what most of us would class as an update to our lives, (ie. marriage) EPS wouldn't so would make you redo the whole will at an extra charge. By the way, the training they provide is from 9.30am - 4.30pm monday - Wednesday...yep THREE DAYS.

STEER CLEAR & GO TO A SOLICITOR, take it from an insider who knows.