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LATEST NEWS & EVENTS Step restates call for tougher will writing regulation  Tougher regulation of the wills and inheritance tax planning industry is needed to combat rising levels of fraud, it has been claimed. According to a report in the Daily Express, probate fraud is costing people £200 million a year and the Society of Trust and Estate Practitioners (Step) restated its calls for the will writing market to be regulated. Step chief executive David Harvey told the newspaper: "Our research highlights how widespread cowboy will writers and estate administrators have become and it is clear those who charge a fee for such services should now be regulated." The organisation called for tougher regulation of the will writing market earlier this year after a poll of its members revealed the extent of "cowboy" will writers. Some 84 per cent of Step members who responded came across at least one will containing drafting errors in the last year, with more than 72 per cent encountering multiple wills containing errors. Meanwhile, the Legal Services Board Consumer Panel has received a large number of responses from various organisations who want to see the will writing industry better regulated, the Law Society Gazette reported recently. Jeremy Tucker of Lamport Bassitt supports the call by Step for tougher will writing regulation. He said: "Having a will is essential to ensure that your estate passes to your intended beneficiaries. However, many people are unaware that will writers do not have to undergo any training, have insurance or require any regulation. "By making a will with a solicitor consumers can be confident that they are dealing with someone who has been properly trained as well as being both insured and regulated." Posted by Georgina Price 
Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net £450m a year in savings More Individual Legal Services News |
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