Cheap and Free Wills. We all see them at this time of year particularly, when lot of charities promote making a Will in the hope that you will make a donation to them.
No-one is saying don’t help out a charity – after all, Morecambe Bay Wills exists to do exactly that! We regularly support CancerCare North Lancashire and South Cumbria, Unique Kidz and Co, Morecambe FC Community Sports, Age UK Lancashire and St David’s Hospice – Llandudno. And other charities on an ad hoc basis when requested.
But the challenge is … what are you really getting with cheap and free Wills? Well, it’s easier to answer what you AREN’T getting with them.
Free Wills month … or months!
Free Wills month used to be October, then it was March and October and now lots and lots of charities promote free wills all year round. This is great for the charities – IF you decide to donate! Many people don’t. In fact, we know of one local charity who has people popping in to see if they do free wills – even though that person, nor any of their family, have ever used their services.
Did you know that most of these charities actually pay the solicitor or Will Writer to do these Wills? Not everyone gives up their time for free! I must say that this doesn’t apply to all charities, and it doesn’t apply to all those who do help out!
But so many companies use free Wills to get you to buy more services. They aim to add themselves as Executors so they will make money on Probate services when you die. Or they aim to have you make Powers of Attorney. And of course, once you’ve used them their hope is you will use them in future for other things like conveyancing or Family Law. There’s no such thing as something for nothing!
And remember a free Will is a simple, standard, Will only and anything more complex costs more ….
Rather than offer free Wills a few times a year, we choose to give a donation for EVERY Will (or Power of Attorney) we write. So, the charities don’t pay us anything, and they benefit all year round. Win, Win!
Cheap Wills – or are they really?
We see it every day … make your Will for £9.99, £19.99, £29.99 – the list goes on. And do it in 15 minutes!
But have you looked carefully at the companies who offer these? Are they really properly qualified and do they have insurance? Can you trust them? There is a current focus from the Competitions and Market Authority (CMA) on these offerings. And that’s because many of them are designed to pull you in with a cheap price that few, if any, ever pay.
With many of these Wills you don’t get advice. You don’t get to ask questions. You don’t get to protect your property for your children, you don’t get to chat through the implications of a blended family, you don’t get to really consider what needs to happen if you exclude someone. And you almost certainly won’t get someone to supervise or check that your Will is valid and properly signed!
What you do get – in many cases – is high pressure sales tactics. “Ah but a £9.99 Will won’t protect you for X, or you really need Y and Z too”. And we hear horror stories of people signing up for literally thousands of pounds’ worth of services after someone has sat in their home until late in the evening. And then they have buyers’ remorse – but some of the more unscrupulous companies don’t even have a 14-day cooling off period. Which they should!
And that is why the CMA are investigating! And quite rightly!
Don’t get me wrong – not ALL cheap Wills are bad. But almost all cheap Wills are done with minimal checks, little (or no) advice, and can cost you dearly in the long run!
And what about those DIY Wills?
I’ve long talked about the lack of advice with these Wills, and the mistakes and errors we regularly see. You can see my video on the Post Office Will template on our YouTube channel here. I bought one of these for £1.99, opened it and checked it out. And my goodness ….!
No mention of guardians if you have children. Nowhere to add substitute Executors or Beneficiaries. Absolutely no guidance on how properties are owned. And no room for small gifts of money or personal possessions. No advice at all really!
I saw one of these really where the lady had used her “preferred” name and not her legal name. So the Will won’t match the Death Certificate when the time comes for the probate submission!.
I saw a couple who made these Wills and only had each other as Executor and Beneficiary. This was a disaster when the wife died, and the husband was already in care with no capacity.
We had a gentleman who named 2 of his 3 children because he didn’t want his other child to benefit. But he hadn’t made any notes or explanations to help with the situation when his 3rd child makes a claim or challenges the Will.
Making a Will on your own, without advice, can lead to all sorts of problems. Andrea wrote about in a recent blog which you can read here. And it will be your loved ones who have to pick up the pieces when you’re no longer around. Don’t leave them with that to sort out!
Cheap and Free Wills – what’s the consequence?
The rise of cheap and free Wills is something our industry is really concerned about. That’s because challenges to Wills are on the rise. And if you’ve made a Will without any professional advice, you could have a problem in the future. There will be no notes to explain the circumstances, show you had capacity, and that no one was unduly influencing you. And a much higher possibility of a successful claim!
Please don’t leave your family in a mess! Take proper professional advice and make a Will with someone who belongs to one of the major organisations and has the right qualifications. That way, you can relax and have peace of mind that it’s right!
You can find out more about our Wills service and how we make things easy for you at an affordable price by calling us on 01524 571032 or by completing our Information Request form here