Will writing is not to be regulated
Despite clear recommendations for Will writing to be regulated by the Legal Services Board, the informed opinions of those responsible organisations involved in estate planning and consumer protection, the Government has announced that Will writing is not to be regulated at this time.
Whilst this does absolutely nothing to protect the interests of consumers against the cowboys in the sector, it does nevertheless mean as far as APS Legal and its Associates are concerned, it is now business as usual, and the inevitable uncertainties and concerns which moving from a self-regulated to a fully regulated environment would bring are no longer of concern. Nevertheless, as one of the more responsible operators in the industry, the company and its Associates will continue to comply with the Trading Standards Institute approved Institute of Professional Willwriters Code of practice.
Paul Sharpe (Chairman of the Institute of Professional Willwriters) says:
"While the decision is not entirely unexpected, the reasons given are rather baffling. Apparently the Lord Chancellor believes that voluntary codes and consumer education COULD resolve the issues, along with more specialist guidance for regulated providers (i.e. solicitors). So why haven’t they done so already? Time will tell what this outcome means for consumers and the wider legal services sector. But one thing is already clear, those who are compliant with an effective voluntary code are ahead of the game – and the IPW Council is committed to ensuring that is where its members stay – ahead of the game."
This message was added on Wednesday 26th June 2013
