It seems that anything can be obtained on the internet these days and this includes Wills but there is no substitute for legal advice obtained from a solicitor. Online providers are not regulated by the Law Society of Scotland or other professional body meaning that clients will not have the same protection which comes from instructing a solicitor to prepare a Will.
When instructing a solicitor to prepare a Will the client will receive Estate planning advice if required which may reduce or eliminate any inheritance tax liability which is a service not available online.
The fee charged by an online provider may be more attractive than that charged by a solicitor but there may be ongoing annual fees charged by an internet provider in case updates are to be made to the Will. If this annual fee is cancelled you will then have to pay the full fee again if you wish to make changes. A solicitor cannot cover all life’s possible eventualities but they will try to protect the client as far as possible and if a Will requires amendment a Codicil could suffice and can be more cost effective.
Many of the online services only cover England & Wales. If a client has such a Will prepared but is actually domiciled in Scotland it could cost the estate more in legal fees to rectify the situation.
If you are thinking about what it means to make a will or you’d like to have a discussion about how to go about having a will prepared, why not give Elaine a call and arrange an appointment? A person to person chat is better than an on-line one!
For more information contact our Elaine Grounds – email@example.com