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LATEST NEWS & EVENTS Wills and inheritance tax planning 'smoother with a probate solicitor'  An elderly client carrying out wills and inheritance tax planning can do so without the help of a probate solicitor, but going it alone comes with many risks, a professional body has warned. Solicitors for the Elderly noted that professionally drafted wills often contains trusts, which reduce the potential for disputes or the need for beneficiaries to pay care fees. Trusts also mitigate tax for beneficiaries. The group's members have seen an increase in the number of people doing DIY wills and inheritance tax planning coming to them when a mistake has been made or the paperwork becomes too difficult. It follows news from the Society of Trust and Estate Practitioners (STEP) that revealed a growing number of poorly drafted wills needing correcting by qualified solicitors. Three-quarters of the professional trust and estate practitioners surveyed by the organisation had encountered some form of bad practice in the last year. STEP said there was worrying levels of "incompetence or dishonesty" in the unregulated will writing market. Posted by Alex McLean 
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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