Online Will writing is a relatively new phenomenon. Still, it increased in popularity due to the outbreak of Coronavirus and the subsequent lockdowns that sent people searching for online solutions for everything. However, according to a report published by Funeral Solution Expert, the increase in reliance on online Will writing has brought the possibility of a significant increase in the number of Wills that are contested.
Moreover, online Will writing is not suitable for most cases as the template is often too simplistic. The report also states that consumers are often not given all (if any) of the relevant information required to make an informed decision regarding their estate. So, what does this mean? And what can be done?
What are the issues surrounding online Will writing?
The report uncovered the concern that people are often relying on online Will writing to save money; often, these people are unaware that the consequences of this could be detrimental to both the personal finances of the client and the outcome of their estate. According to the report, 65% of consumers believe their affairs are simple but, in reality, have complex circumstances. 23% do not read or attempt to understand the terms of the Will they are entering into when signing.
Meanwhile, the online Will writing providers are often asking insufficient questions to the client. Therefore, consumers are often left in the dark about the risks of sticking to such simple templates and guidelines.
Currently, the Wills market is largely unregulated. If there are future issues when the family is carrying out the wishes of the Will, they will have nowhere to complain to nor any right to compensation when an issue arises. This also means that the Will writing companies often fail to include suitability warnings or check the client’s mental capacity to be making the Will – something that could be detrimental to the outcome of an estate.
Will Solicitors Blackheath
We understand the urge to lean towards online Will writing due to the ease and low cost presented to consumers. Although some people have simplistic needs and can choose this option, online Will writing services are ineffective and insufficient for most.
At Beverley Morris & Co., we will provide you with clear, professional, and personal advice on all aspects of making a Will. Our services include inheritance tax, Will trusts and protective property trusts.
To learn more about how we can help you make a Will, call us on 020 8852 4433 or email privateclient@beverleymorris.co.uk.
Alternatively, click here to have your Will questions answered.