The Importance Of Making A Will, Even In Tough Economic Times

The advice to make a Will as soon as you have assets to leave behind has been reiterated by one organisation, because according to the Law Society, as many as one in three people die intestate (without a Will).

Paul Sharpe, the chairman of the Institute of Professional Willwriters, explained that the number of people writing a Will tends to fall during economic downturns such as those being experienced by many families over the last few years.

“Households tend to have more pressing needs on their disposable income,” he pointed out.

However, this can be a dangerous approach to take, as it may result in people dying intestate and their families having to get involved in expensive court cases to claim what should have been theirs in the first place.

Despite this, he suggested that Britons are heeding the advice to only seek a professional when getting a Will written, as he reported members being asked by customers about their regulated code of practice.

Earlier this month, Brian McMillan from The Society of Will Writers had warned it is important to look for credentials when choosing a solicitor, rather than simply going for the cheapest provider.

While this may cost more, it will undoubtedly give the client more for their money too and reduces the likelihood of any problems occurring with the document after it is drawn up, such as it being contested.

Peter Watts, a solicitor and founder of glossLegal also added that when speaking to a solicitor about writing a Will, it is important to ensure they are members of STEP, the Society of Trust and Estate Practitioners which is the foremost organisation for Wills and trusts. The entry requirements for the Institute of Professional Willwriters and The Society of Will Writers are fairly basic, and do not require members to be solicitors. To become a member of STEP has a far more rigorous set of examinations, but is open to all Will writing professionals and specialists.

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