A Will is one of the most important documents you will prepare during your lifetime. Whether your estate is simple or complex, advice from a legal professional ensures your wishes are accurately reflected. The question is, who should I get advice from? A Solicitor or a will writer?
Whilst both will writers and solicitors will prepare the same document, there are a number of significant differences between the two, whether it be qualifications or regulation. Both will writers and solicitors will provide advice and create a will which outlines how your assets will be distributed after your death.
This article will address the differences between will writers and solicitors, the protections each one offers and the potential risks.
What is a will writer?
A will writer is an individual trained in specifically preparing wills. Their knowledge is often limited to assisting people with their wills. Their specific knowledge ensures that they have a good understanding of wills and the process.
A will writer, however, is not regulated in the same way as a solicitor, as anyone can become a will writer. A will writer may not be able to provide the same detailed legal advice as a solicitor, which can lead to complications during the probate process.
What is a solicitor?
A solicitor is a qualified legal professional who provides specialised expertise to their clients. Solicitors are often the first port of call for an individual or business seeking legal assistance.
A solicitor has vital legal knowledge that can help when preparing a will. They provide advice on complex matters, such as inheritance tax planning, estate planning, trusts and protecting vulnerable beneficiaries. They will look at your financial assets and family circumstances as a full picture and then cater advice on your specific needs and wants to ensure your estate is dealt with exactly as you wish.
Solicitors follow strict professional standards to ensure that all clients receive excellent service. These standards offer protection to clients if any mistakes are made when writing the will.
What is the difference between a will writer and a solicitor?
There are various differences to consider when deciding whether to use a will writer or a solicitor. Including cost, qualifications and regulation. We will be exploring the differences further here:
Will writer
A will writer does not need to have a law degree or other legal qualifications to write wills.Will writing isn’t a regulated legal service in England and Wales, meaning anyone can technically set up as a will writer.
Whilst will writers can be a cheaper option than a solicitor, they may offer ‘sell tactics’ which result in hidden costs and unnecessarily complex wills that are not always catered to your individual circumstances. In turn, this can make the probate process more complicated.
Wills can be simple documents but can easily become more complex if your circumstances cater for it. A will writer may only be able to offer limited advice on the will writing. When preparing a will it is important to consider it in terms of the process, to ensure that the family are aware of the steps that would be needed, particularly if a Trust is involved.
Will writers are not regulated, meaning if you decide to use a will writer, it is essential to check that the individual belongs to The Society of Will Writers or the Institute of Professional Will Writers and that they hold a particular type of professional indemnity insurance. This ensures that if there are issues with your will, you have a chance to claim compensation.
Will writers may provide storage, but they will not have the protection of the SRA if the will became lost or damaged, putting you and your wishes at risk.
Solicitor
In general, solicitors provide broader legal knowledge and advice on estate planning matters, such as inheritance tax advice and trusts.
Solicitors can offer advice beyond simply writing your will. This can include care planning advice, lifetime trusts and property ownership. At Goughs we have a wide range of specialist departments who can offer well rounded advice to all individuals.
Whilst solicitors can be more expensive than a will writer, solicitors offer specialist knowledge and reassurance that all avenues have been considered. Solicitors do not have hidden costs, and all fee estimates are clear from the outset. The majority of solicitors will also offer free storage of your wills.
Solicitors are regulated by the Solicitors Regulation Authority (SRA), This provides you with protection that ensures its members (Solicitors) are following its rules set out by the Code of Conduct and standards and regulations. If an issue arises regarding your will, whether it be the advice given or the validity of your will, you would have recourse through the SRA.
Why is it better to use a solicitor than a will writer?
If your estate is complex and specialist advice is needed, a solicitor’s expertise may be needed. A solicitor will provide detailed guidance on inheritance tax, Trusts, intricate matters and protecting against possible claims against your estate. Solicitors often work alongside specialist advisors such as financial advisers and accountants to ensure well rounded and accurate advice.
Solicitors also go through years of training and qualifications to ensure the best knowledge in specialist areas of law. If you want to have the reassurance of detailed advice which is regulated by the SRA, a solicitor may be the more suitable option.
How Goughs can help
The team at Goughs are highly specialist and experienced in preparing wills. We understand that no two individuals are the same, and we take provide in getting to know you and understand your wishes.
If you wish to have peace of mind that you have prepared a will with a regulated Solicitor, please contact us today.
