Cowboy will writers

In England and Wales, the total value of the wills, trust and probate market in 2021 amounted to GBP2 billion. Within the market, there are approximately 208,000 unregulated will providers currently practising. With a seemingly growing market share for unregulated service providers, the necessity to more closely safeguard individuals’ rights and assets is more crucial than ever.

The recent announcement of the Competition and Markets Authority’s (CMA’s) review of unregulated will writers and pre-paid probate services is a significant and positive step towards ensuring that vulnerable clients receive the protection they deserve, and need, against potentially unfair, poor quality and costly will-writing services.

The safety of regulated experts

Solicitors, as regulated professionals, operate under the watchful eye of the Solicitors Regulation Authority (SRA). The primary objective of the SRA is to protect the public by overseeing and regulating solicitors. This regulation ensures that people have access to a fair marketplace where they can obtain high-quality legal services at a reasonable price.

However, it is not necessary to be a qualified solicitor nor regulated by the SRA or any other governing services to provide will writing and probate services. Even within the regulated legal industry, there have been cases where solicitors have fallen short of the SRA’s standards and rules. There are serious consequences for non-compliance with SRA regulation, and so solicitors are obliged to be transparent and fair with their clients. In this way, the SRA offers peace of mind to clients by, in essence, providing a safety net in case something goes wrong. Further, solicitors are required to maintain insurance to protect their clients.

Although solicitors who engage in dishonest or unfair practices can face being struck off and barred from offering their services, unregulated providers do not share the same level of culpability. They can continue unfair and dishonest practices without facing the same repercussions and often do not provide the added security of insurance, leaving vulnerable clients exposed to subpar and even damaging services.

This is especially pertinent to will-writing services, as a will is one of the most vital legal documents an individual will ever complete, and estate administration can be a complex and emotionally challenging process. It is imperative that consumers engage providers with strong legal knowledge and expertise to properly safeguard estates and beneficiaries, which unregulated providers can be guilty of falling short of.

The cheap and quick fallacy

Given the current cost of living, affordability is a concern for many and so consumers are sometimes drawn to unregulated service providers due to their lower fixed fees. However, these low fees can be misleading, with final costs often escalating unexpectedly. The CMA’s investigation aims to shed light on these issues and protect consumers from the consequences of unfair contractual terms.

Aside from costs, consumers may also be attracted to online will-writing services, which are seemingly quicker and easier. However, consumers should not underestimate the importance and uniqueness of a will. Wills should be very carefully tailored to a consumer’s individual circumstances and wishes.

Pre-paid probate services are a further area of concern. Estimating the amount of work required to administer an estate is challenging, especially considering current delays in the probate process now exceed 12 months on average. Clients must be assured that pre-paid packages will address these challenges transparently, clearly outlining the scope of work included in the costs.

A lack of accuracy or certainty in writing or probating a will can have devastating consequences, and so consumers must be fully aware of the risks of using cheaper online services or pre-paid probate plans that are not regulated.

It is important to note, however, that not all unregulated will writers and estate practitioners offer substandard services. Many professionals embrace a modern, transparent and accessible approach to serving clients. Those who are members of reputable organisations like the Institute of Professional Will Writers and STEP largely adhere to best practices, acting in the best interests of their clients. It is crucial  to keep in mind that not all unregulated professionals are the same and the CMA’s review is expected to highlight those who adhere to best practices.

The CMA’s review will also promote education within the industry, empowering consumers to make informed decisions about whether to choose regulated or unregulated service providers. Understanding the distinctions between regulated and unregulated professionals is essential, and consumers should be entitled to the expected level of protection under consumer laws, regardless of their choice of service provider.

The CMA’s review is a welcome step towards ensuring consumer protection in the legal services industry. It aims to address disparities in accountability, educate consumers and promote best practices. Although affordability is a valid concern, it is essential to prioritise the protection of vulnerable clients and their assets. As we await the findings of the review, we can look forward to a future where individuals have access to a wide range of high-quality legal services, whether they opt for regulated or unregulated providers, with the confidence that their rights and interests are safeguarded.