Where there's a will...
Having a will isn’t just a case of a tick box exercise. A good will is a document which will protect you and your family’s investments.
Michael Labrum, of Labrum’s Solicitors, said: “I saw a client who wanted me to look at the will that had been drawn up for him and his wife before they signed it.
“He had been to a will writing company because he thought they would be better and cheaper.
“On the face of it, what he had been asked to sign was ok, but on another level it wasn’t what he had asked for - or what he needed.
“Will and LPA writing is one of the last unregulated areas where the work can be done by unqualified and inexperienced people who are there to sell a product rather than give proper, objective advice.
“You should always use a solicitor who will be fully qualified and insured.
“For many people, as long as they have a will in place they think they are covered. But the will is the end product. What you’re paying for should be the sound advise about what they actually want to happen in the event of their death.
“We are more than just will writers. We are fully qualified to advise people and to ensure that a person’s wishes are carried out. It’s also a misconception that lawyers are more expensive.
“A good will will not only save on inheritance tax, it will prevent family disputes and reduce probate costs.”
He said that in this particular case the will writer was going to create lots of trusts to try and save this client money in inheritance tax.
Michael said: “The client wouldn’t have to pay it into trusts because of the changes to the law to combined inheritance tax thresholds.
“Lawyers know about the latest changes in the industry and give advice on what is best for each client - not trying to sell you a particular product.”