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The Importance Of Wills Drafting

Surveys have suggested as many as 90% of people do not have a Will.

If you don't have a Will it means that if the worst was to happen and you were to die, you leave your estate subject to Intestacy rules. Under these, your estate is shared between your relatives in a strict order, and would eventually pass to the State if you have no surviving relatives.

In order to protect your estate, and ensure that your estate is passed to the people that you want to receive it, it is advisable for every adult to draft a Will.

Panorama Highlights Will Drafting Issues

As shown in the BBC Panorama program on Monday 9th August, Will writing has become a lucrative industry. So with so many options, in the form of DIY packs, solicitors and specialised Will Writing companies, which should you pick?

The Will Writing industry has grown quickly over recent years. However, there are currently no requirements for non-solicitor Will writers to be regulated, or to have indemnity insurance in the event of something going wrong, a point that was clearly shown by the Panorama programme, along with the issues this can cause to surviving relatives, and the additional distress on top of the bereavement.

Qualified, Regulated Solicitors Are Your Best Option

Solicitors are fully regulated by the Solicitors Regulation Authority (SRA), which has the power to sanction individuals or firms in the event of providing negligent advice. Solicitors are also required to have Professional Indemnity Insurance to cover the cost of rectifying mistakes, in the unlikely event that something goes wrong.

Some people are hesitant to use a solicitor because of the perceived cost of doing so. Panorama highlighted that some Will writing companies provide a relatively cheap initial service, but sell on added extras, such as the administration of the estate, Will storage costs, and many other additional extras which you may not actually need or want, escalating the costs you pay into the thousands. The programme also highlighted how clients very often think they have paid for a service within a larger package of services, when in fact on careful reading of the small print they have not, and again additional charges will apply.

Solicitors Will Drafting Costs

Solicitors are required under Law Society regulation to provide up front costing of work to be done, meaning that you cannot be caught by hidden fees. Most solicitors will charge a fee of between £75 and £100 for a simple single will.

A Will can be a relatively straightforward legal document. It must however comply with various rules in order to be valid. These rules make a Will a very easy document to get wrong. It is therefore advisable to seek professional advice to ensure that all of the issues concerning your estate are dealt with correctly, even in the event that you draft the Will yourself, to ensure that YOUR Will carries out YOUR wishes in the way that YOU would want it to.

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Call Our Wills Solicitor Today

If you need advice on making the next steps with your Will call Hattons Solicitors on 0800 298 9690 or fill in the Enquiry Form.

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