REVEALED: Incompetence and dishonesty of “cowboy” will writers

Results from a survey published by the Society of Trust and Estate Practitioners (STEP), reveal the scale of the threat posed to the consumer from cowboys in the will writing market. The survey found that 75% of STEP members have encountered cases of “incompetence or dishonesty in the will writing market in the last 12 months”, and prompted STEP to call for better consumer protection.

Two thirds of respondents reported coming across hidden fees which were not outlined in the stated price for a will, and 63% had direct experience of cases where will writing companies had gone out of business and disappeared with their clients’ wills. Just over one third had encountered cases where incompetence had led to significant additional tax bills.

Chief Executive David Harvey said: “This research shows how widespread cowboy will writers have become and it is clear those who charge a fee for writing a will should now be regulated. They must have appropriate qualifications, and they must have proper indemnity insurance. The Scottish government has gone some way towards protecting consumers with the regulation of will writers but people will remain at risk until regulation is extended to include estate administrators across the UK."

Examples of malpractice included a company which approached young mothers in shopping malls, telling them their children would be taken into care after they died if they failed to make a will. One consumer was charged £12,000 up-front for executor services only for their family to find the firm involved had gone out of business not long after, disappearing with their wills and money.

The Legal Services Board is currently undertaking a review of the threat posed to consumers in England & Wales by unprofessional will writers and is seeking evidence of consumer harm. The Scottish Parliament is going through the process of regulating non-lawyer will writers through the Legal Services (Scotland) Bill.

STEP recently launched the STEP Certificate in Will Preparation, a qualification designed to enable will draftsmen to demonstrate their competence in all aspects of will preparation. STEP has been actively campaigning for the regulation of professional will writing and estate administration in Scotland.

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ENDS

NOTES TO EDITORS:

For further information please contact Scott Devine scott.devine@step.org 020 7340 0529.

The Society of Trust and Estate Practitioners (STEP) is the worldwide professional body for practitioners in the fields of trusts and estates, executorship and related issues. STEP aims to promote the highest professional standards through education and training leading to widely recognised and respected professional qualifications. STEP also works to demonstrate the value of good stewardship and planning across future generations to governments, professionals, financial institutions and the public. STEP internationally has over 16,000 members, with almost 6,000 members in the UK. Over 4000 students worldwide are currently studying for STEP qualifications and in the UK STEP supports an extensive regional network providing training and professional development.
693 members of STEP took part in the STEP will writing market survey.