Trust Inheritance Will Writing Service

Naughtyat40

I've just done a search on Trust Inheritance and was kindly led to this thread.
Unbeknown to me my parents had these people visit their home 3 months ago. They still haven't signed the Wills as they have never got what they asked for ... there are many errors and despite my Mother ringing and asking for help on several occasions they just keep telling her to "pop it all in a letter..." I've chatted with them about their requirements and I'm no expert but can see that what they need is quite complicated (it is a 2nd marriage for both of them and there are several levels of bequests) and far too much for anyone to write in a letter......
Trust Inheritnace seem quite happy with a Will whereby the house would need to be sold to pay funeral expenses - which is how they have left it at the moment????
Anyway it further transpires that they have not only parted with £99 for Will writing but also £2500 for a probate service for when they die. This money was of course paid when the Will Writer visited in June.
Firstly any recommendations of what I should get them to do now??
They haven't signed the Wills but they have signed an Agreement when they paid the fees. As the Wills are so badly written would we stand a chance of cancelling and getting the money back from this Company??
I personally think it would be a hell of a lot easier to go down to their local Solicitor (who they used before) and get him to sort it out .....
All ideas and help appreciated as I have 2 very stressed 70/80 year olds :-(

hibs1966

Hi there, first post and I am writing in defence of Solicitors, I am a practicing Solicitor specialising in Probate, Wills and Elderly Client services. I will not mention my Firm as I do not wish to be accused of posting for a free advertisment.

However, myself and most of my professional colleagues have all heard tell of Probate companies (not neccessarily TIW) that have hard sold services on the back of a cheap Will that have gone horribly wrong or the company itself has gone bust. I have had clients come in after paying for other "bolt on" services from similar companies, such as Lasting Powers of Attorney that have been drafted incorrectly and in some cases not even registered.

Do you really want to be paying that much money up front? Are you sure that the Company will be around at your death, what is to stop them going into Administration and restarting as a new Company and taking your money? At least using a Solicitor gives you a guarantee that your file will be picked up by another Firm if the worst should happen, and with the benefit of either the Firm's professional Indemnity insurance protection for you, or the Law Society's compensation fund.

That said, it is all about choice, and as well as a Will I always advise clients on Inheritance Tax and possible mitigation of it, that I think comes with experience and constant review of the changing law. How many Will writers bother to attend four or five courses a year updating their legal knowledge.

And to reiterate the point made previously, no Solicitor charges 4% as we all follow the Law Socs best practice. I also think people should appoint their friends/family as Executors, however, where this falls down is when you have an elderly client with no family or friends.

Finally, next time you compare a £49 Will (Will Writer) to a £100 Will (Solicitor) think what is at risk and the problems a lack of knowledge and skill could cause.

rant over!

hibs1966

"Free set up of any Trust which is required following the will's instructions (remember that people under the age of 18 can not legally sign a receipt, so any inheritance to a minor has to go into Trust, one of these costs £500)."

One, this is not correct, it is generally accepted that the executors can rely on the Children Act 1989 which includes the rights of a person with parental responsibility for a minor to receive or recover in his own name for the benefit of the child, property of any description and wherever situated which the child is entitled to receive or recover.

Two, should a trust be required money can simply be placed into National Savings investment to encash when the beneficiary obtains eighteen, what costs £500?

Worrying advice you give

KoreArabin

I have to admit that I haven't read all of this thread, but I was rather amused to read, with all the stuff about how well qualified will writers are, that one of TI's "consultants" was a resting actor!

I'm sure that the legal advice given by a resting acting is just as good as that given by a specialist solicitor - not!! :mad:

localhero

KoreArabin wrote:

I have to admit that I haven't read all of this thread, but I was rather amused to read, with all the stuff about how well qualified will writers are, that one of TI's "consultants" was a resting actor!

I'm sure that the legal advice given by a resting acting is just as good as that given by a specialist solicitor - not!! :mad:

Then maybe you should read the thread, because then you will learn that not all willwriters are the same - nor are all solicitors `specialists` at writing wills.

KoreArabin

localhero wrote: »

Then maybe you should read the thread, because then you will learn that not all willwriters are the same - nor are all solicitors `specialists` at writing wills.

Would you trust your affairs to someone who i) "has passed an exam" to become a Will Writer, or someone who ii) has a law degree, a post-graduate qualification, two years training before even being allowed to practice, and probably professional memberships of bodies like the Society of Trust and Estate Practitioners, the Probate Section and Solicitors For The Elderly?

I know which I'd choose! It's rather like choosing to have surgery performed by a surgeon, rather than someone who's been on a first aid course...

localhero

KoreArabin wrote:

Would you trust your affairs to someone who i) "has passed an exam" to become a Will Writer, or someone who ii) has a law degree, a post-graduate qualification, two years training before even being allowed to practice, and probably professional memberships of bodies like the Society of Trust and Estate Practitioners, the Probate Section and Solicitors For The Elderly?

I know which I'd choose! It's rather like choosing to have surgery performed by a surgeon, rather than someone who's been on a first aid course...

Personally, I would prefer someone that has demonstrated their expertise by passing an exam in their specialism and who must receive on-going training in it.

A STEP member is a useful starting point, but how many solicitors are STEP qualified? Being a solicitor in itself proves nothing apart from they will at least be insured. If you want to see an example of solicitor incompetence on an epic level check out this thread: http://forums.moneysavingexpert.com/showthread.html?t=1120993&highlight=

KoreArabin

localhero wrote: »

Personally, I would prefer someone that has demonstrated their expertise by passing an exam in their specialism and who must receive on-going training in it.

A STEP member is a useful starting point, but how many solicitors are STEP qualified? Being a solicitor in itself proves nothing apart from they will at least be insured. If you want to see an example of solicitor incompetence on an epic level check out this thread: [link removed as I can't post with links]

So having a law degree, a postgrad qualification, years of training and professional memberships means nothing compared to "passing an [singular] exam"?

Solicitors are required to undertake continuous professional development (i.e. training on changes to the law etc) every year in order to renew their practising certificates.

I think you'll find that most solicitors who undertake will-related work are members of STEP, simply because being a STEP member is so well regarded.

And every profession has its bad apples - I don't think anyone would disagree with that. You can google for the horror story about two firms of Will Writers (JHD Associates from Oakham in Rutland and Personal Asset Protection from Inworth near Colchester, Essex), who dumped their clients' wills in a barn, for example. (I can't post links as a newbie, but the case was widely reported).

localhero

KoreArabin wrote:

So having a law degree, a postgrad qualification, years of training and professional memberships means nothing compared to "passing an [singular] exam"?

Solicitors are required to undertake continuous professional development (i.e. training on changes to the law etc) every year in order to renew their practising certificates.

I think you'll find that most solicitors who undertake will-related work are members of STEP, simply because being a STEP member is so well regarded.

Solicitors are not required to demonstrate their expertise in producing Wills in any part of their education or training. And whilst they are required to obtain continuous professional development it can be in any area of law of their choosing.

This contrasts with the Institute of Professional Willwriters whose members' CPD is specific to the area of Wills and the surrounding area of law.

I think you will also find that most high street solicitors are not STEP qualified.

KoreArabin

localhero wrote: »

Solicitors are not required to demonstrate their expertise in producing Wills in any part of their education or training. And whilst they are required to obtain continuous professional development it can be in any area of law of their choosing.

This contrasts with the Institute of Professional Willwriters whose members' CPD is specific to the area of Wills and the surrounding area of law.

I think you will also find that most high street solicitors are not STEP qualified.

But a solicitor specialising in private client work is hardly likely to attend courses on company commercial law or employment law. Continuing professional development is mandatory for solicitors; without fulfilling the annual requirement, the Law Society will not allow the solicitor to continue practising.

This contrasts with the requirements for will writers, which are voluntary - if a will writer fails to do his or her training, all that happens is that "The Executive Committee may consider what further action is appropriate if a Member fails to meet the requirements over a two year averaging period."

If by "high street solicitors" you mean sole practitioners (a dying breed nowadays) then I'd agree that they're probably not STEP qualified. However, I am referring to specialist private client solicitors, most of whom are members of STEP.

Again, the analogy is - would you want your surgery performed by a surgeon, with a thorough knowledge of medicine and anatomy, and many years of experience, or by someone who has just passed a first aid exam?