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LATEST NEWS & EVENTS Regulate will writing, consumer panel says  Regulation of the wills and inheritance tax planning industry is needed, the Legal Services Consumer Panel has claimed. The call comes as a mystery shopping exercise reveals that one in five wills drafted in the UK falls short of acceptable standards. Poor quality wills, sharp sales practices and lost wills where companies disappear without trace were identified by the panel. It follows a separate study from the Society of Trust and Estate Practitioners (STEP) that found similar problems in the quality of wills drafted by unqualified individuals. Currently, there are no restrictions on who may draft wills for consumers for payment. The panel wants to see all providers demonstrate they are competent to write wills. Panel chair Dr Dianne Hayter said: "A will may have huge personal and financial consequences for those who we care about most. "It's vital that advisors do a competent job, especially since any defects are unlikely to be discovered until it's too late to fix them." STEP said it agrees that will writers ought to be regulated and welcomed the Legal Service Board's investigation into the industry. 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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