As any regular readers of this blog will know, one of the themes of our ‘Wills & Probate’ articles is the risks of preparing your Will with an unregulated Will writer. Those risks range from losing your original Will and lacking insurance to deal with any negligent drafting to failure to take comprehensive and tailored instructions to outright acts of mis-selling and crime.

One doesn’t like to moan, but solicitors are also well aware of false or misleading advertising that often entices a person to proceed with a Will writing company in the first instance under the misapprehension that they are:

• A regulated and trained solicitor

• Cheaper than instructing a regulated and trained solicitor

• Offering the same advice and service as a regulated and trained solicitor

Normally one, if not more, will apply. And if this does sound like moaning, please know, dear reader, my chagrin is not for the fate and poor misfortune of the lawyers (who, as many of our blogs point out, end up doing quite nicely from the litigation that spills out of poorly drafted Wills, but for the consumer who is desperately let down by these unregulated practices.

This entire fiasco was sadly inevitable and regulated firms and the various professional bodies that represent us have ben beating the drum with government more or less since the de-regulation came into effect in 2007.  

In a pleasing development, after several particular scandal hit years, it seems the Government is finally waking up to the problem. Last year the Competition Watchdog (The Competition and Markets Authority) announced that they would be cracking down on unregulated practices that were operating in breach of consumer protection law.

Naturally, anyone expecting a robust crack down will likely end disappointed, but recently the CMA have unveiled draft guidance aimed at ensuring that Will writing companies (amongst other unregulated practices) remain on the right side of the law.

The guidance contains a checklist of do’s and don’ts for unregulated practices, that they will need to adhere to moving forward. Amongst other things, that list states that practices: ‘Shouldn’t make misleading comparisons when marketing their services, for example by comparing the (higher) cost of a bespoke service provided by a solicitor with their (lower) cost, omitting the relevant fact that the higher cost reflects a very different service”.

I don’t hold my breath that this will yield an immediate and noticeable change in the market, but it is a good sign that things are now moving in the right direction for the consumer.

If you would like to discuss the preparation of your Will or Estate Planning in general, please do not hesitate to contract the writer directly on 01494 893 533.