Writing a will: watch out for scams

Simple solution - Use a solicitor - probably cheaper in the long run

The basic point in this article is about prices that are too cheap. Quite frankly no person or business can function on these prices. - they are just too low. So as they are too cheap it follows there must be a catch. There is a well established company that pays more in a referral fee to IFAs than it purports to charge the prospective clients for a pair of mirror wills. This should get alarm bells ringing too.

The old Maxim - the most expensive thing is a cheap solicitor. The problem ( first hand experience) is the older generation TRUST solicitors. They go in and say I want "X" . the Solicitor see's easy money they don't advise they just write it down. IHT is supposed to be a tax you can THINK round./ But solicitors won't do it. result - BILLIONS in tax to government whereas at least will writers are not so restrictive and discuss the future with you. Sure - use a solicitor - erver tried to sue one when you end up with a HUGE IHT bill - Fat chance! & NO I'm not a legal professional I'm an art dealer.

Who would you trust more the average solicitor or the average art dealer?

If you have a problem with a firm of solicitors, don’t sue them, go to the SRA, they can be very strict with firms that step over the line.

I have a Post Office Will. My query is, what if my Witnesses are no longer living?

Amalia, that makes no difference. As long as the Will was signed and witnessed properly you should be fine.

The problem with most solicitors is that they don't give advice and just do what you ask them to without considering the tax implications.

A friend from Serbia recently asked me to check up on his dead uncle's estate as he was one of only two surviving relatives and had been promised money by his uncle who had settled in the UK. On contacting the solicitor who was the executor he informed me that all the money from the sale of his house had been promised to charities and sent me a copy of his Will. It turned out the Will was witnessed by the solicitor's wife which itself must be suspect practice. My next step is to contact the charities to see that they actually got paid. It occurred to me that when old people die without any relatives close at hand...is there any body or institution that actually checks up that solicitors and executors have actually sent money to the correct recipients? What is to stop solicitors just pocketing the money when they discover there are no relatives likely to follow up?

Oddly enough, I was just updating my will when I saw this article. I can assure readers that anyone of average intelligence can easily write their own will, using a basic tenplate - an old will, a ready made will bought for the purpose, a will form downloaded off the web, etc.

There is no need to hire a solicitor in most circumstances, provided your affairs are reasonably straightforward. Unless you have had several divorces or feuding relatives, do it yourself is my advice.

Have twice tried to create a will that would have involved leaving money in trust to my grandchildren and twice rejected the drafts produced because of clauses inserted in the section 'Powers of Trustees' or 'Powers of Executors' . Safeguards were specifically excluded on duty of care and conflict of interest etc and the trustees enabled to invest in high risk property and shares, take out loans and buy life insurance, as if the money were their own. I concluded the trusts were going to be hijacked as wrappers for setting up a business. As trusts are not registered or independently audited and are as known vehicles for tax evasion, sequestering assets and money laundering I said no thanks. I have complained about one of these drafts and the Legal Services Ombudsman has been considering my complaint for six months!

PLEASE DO NOT use a solicitor as your executor if you can AT ALL avoid it as they will legally fleece you / your dependants / your 'estate'. I speak from personal experience and that of a friend - her father's estate has still not, after over 2 years since his death, been settled (Although it does involve properties, shares, trusts etc). There are now 4 solicitor's firms 'involved' as well as numerous 'counsels'. They have dragged it out for over 2 years and have brought in 'mediators' (i.e legal friends !!) on over £5,000 A DAY and it is still not sorted. The executors and the other solicitors are employing all sorts of delaying tactics to keep it going around and around in circles and, of course, putting their claims in each month !! THEY HAVE NO INCENTIVE WHATSOEVER to wrap the case up, as the 'estate' (Which is controlled by the Executors!!) keeps paying their bills, and the person they are working for is of course dead !!! My poor friend is at her very wits end.

Will making and executing seem to be badly in need of new legislation that takes account of the modern world and its financial and legal conditions. Another problem : Letters of Wishes: these are attached to Wills as guidance to executors and trustees. They are not legally binding however and can be set aside. Twice I was not told this in my discussion prior to the drafting of the documents: I discovered it by Google. My wishes for the grandchildren were express in Letter of Wishes and not in the main legally binding text. They said when I objected it was standard practice and if the grandchildren weren't satisfied they could sue: what young person would sue a major bank and massive firm of solicitors? Similarly the use of references to legislation some of it very old is impossible for a non lawyer to understand in all its implications. It seems very difficult indeed to take care of an estate.

My trust in the system has fallen to zero, What now?

To Anonymous 4. The reason that there is such a broad range of permitted investments is because you asked for a DISCRETIONARY TRUST. This allows trustees to protect your assets, for example by not paying out to a son with a dodgy girlfriend and vice versa. Different types of trusts also have differing tax rules. If you leave capital with a life time interest for someone to benefit from just the income but they can't touch the capital, that is part of their estate and taxable for inheritance tax. There are lots of different types of trusts. Another one is the Married Women's Property Act, which protects a trust payment for life insurance so it cannot be taken by creditors. Trusts have to do an annual tax return. Trustees CANNOT benefit from a trust and can only bill reasonable expenses, such as accountancy fees.

I agree that you should not use a lawyer as executor because of fees but be warned - DONT USE A BANK. Their standard charge is usually 5% of the value of the estate. A good friend will usually do the work together with the lawyer who drafted the will and this is not usually expensive. Just have the kindness to leave a sum to the friend in appreciation.

And what ever you do, don't trust anyone who wants to remain anonymous.

I am a solicitor and I work for a trust corporation in London where I draft the Wills and deal with trust and estate issues. I often come across Wills that are badly drafted resulting in problems for the beneficiaries.

As a matter of course I consider tax implications and invariably advise on how to avoid inheritance tax and this should be standard procedure. The creation of tax avoidance structures can be very complicated but for the great majority of people routine advice is adequate.

If the Will appoints my company the executor of the estate there is no charge for making it and I regard it as a loss leader. I would add that my company's charges are significantly less than those of banks and we offer an excellent service.

As with hiring a plumber of builder, if you don't already have a solicitor you can trust then ask around for a recommendation. There is a great deal of truth in not appointing the solicitor as the executor of the will, but it is generally far better to appoint a solicitor to write a will. For one thing, a wording which seems clear enough to you can be ambigious in law or even mean something quite different. An example is when people mention a brother-in-law for example; this may mean something different to the courts. There is a saying, anyway, in law that "a solicitor's best friend is the man who writes his own will". You may save some money in the short term by doing it yourself, but it will cost an arm and a leg to sort out any hitches you may have created quite unintentionally.

The suggestion of giving a trusted friend or relative the role of executor, and then giving them a legacy as a "thank you" is excellent advice. In practice, a the executor(s) is often a beneficiary (and presumably someone you trust/like/favour) anyway. They have a beneficial interest in getting your affairs settled as speedily as possible!

I used to work as a solicitor specialising in wills and estates in private practice before setting up my own, regulated will-writing business. The main reason that I work as a will-writer now and not as a solicitor is to keep down my costs to my clients. I believe that providing wills at an accessible price is a service first and foremost. However, I am fully regulated, insured and continue to be highly qualified. There are good and less good representatives of every profession - as the consumer you need to take the time to make enquiries (with price being just one factor to consider). A good advisor is undoubtedly worth every penny and a much shrewder choice than DIY!

Don't allow a solicitor (either a company or sole practitioner) or a bank to be named as an executor (either joint or sole) in your own will or another will of which you are the other executor: they have every incentive to draw out dealing with the deceased's estate, either charging fees or investing the deceased's money and creaming off the interest.

If any non-professional executor (relative or friend of the deceased) needs assistance to sort out the estate, he or she can engage their own solicitor who is answerable to them. Any solicitor / bank named as an executor in a will can claim that they are acting on the deceased's behalf, who obviously is no longer around to question the slow handling of their affairs.