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Will-writing 'dishonesty'
The following article was published in the Law Society Gazette on 19 August 2010.
By Rachel Rothwell
Two-thirds of trust and estate practitioners have encountered ‘incompetence or dishonesty’ in the will-writing market in the past year, according to research published today.
The study has prompted the Society of Trust and Estate Practitioners (STEP), which conducted the survey, to renew its calls for better consumer protection.
Responses from 693 STEP members showed that two-thirds had come across hidden fees which were not outlined in the stated price of a will, and 63% had experienced a will-writing company going out of business and disappearing with their clients’ wills.
Just over a third of respondents said they had seen cases where incompetence had led to significantly higher tax bills.
Examples of malpractice highlighted by the research included one company that approached young mothers in shopping malls and told them that their children would be taken into care if they died without a will.
In another case, a consumer was charged £12,000 up front for executor services, and the firm then went out of business, with the family unable to recoup the money.
The full article can be found at:
http://www.lawgazette.co.uk/news/research-shows-incompetence-will-writing
So, before you or anyone you know considers writing a Will be sure that you have weighed up all of the alternatives.