IWC Probate Services

According to an Opinium poll conducted last month, 60% of adults have not made their Last Will & Testament. Numbers were alarmingly high for those in older age groups. 64% of 35-54 year olds, and 32% of over 55s do not have a will.

‘Don’t give up! Use our Heir Tracing Service’ was IWC’s message to solicitors and personal representatives trying to find missing heirs to avoid estates being passed to the Government.

Last week was national Write a Will Week in the UK, where 70% of adults do not have a Last Will and Testament.

New data from the Probate Service has indicated a rise in the number of Wills that have either failed to appoint an executor, or have appointed an executor that has been unwilling or unable to administer the estate, increased last year.

The Legal Services Board (LSB) has published its response to the consultation document on the Approaches to Quality which was carried out this summer. Many elements have implications for firms who offer will writing and probate services.

New government proposals to step up the taxes on properties at the higher end of the scale may have a significant impact on the value of many of the unclaimed estates in the UK.

UK has just seen the launch of its first secure online website designed to act as a vault for all financial arrangements and help overcome the problem of unclaimed estates.

The LSB is calling for action to protect consumers from unfair probate fees. Proposals have been raised as recommendations from an LSB report on the regulatory approach to will-writing, probate and estate administration.

Statistics released by the Ministry of Justice illustrate that in the last five years the number of probate application disputes being dealt with by the High Court has doubled.

The latest data released by the Probate Service showed that the application of probates by solicitors has dropped from 64% in 2010 to 44% in 2011, indicating that 56% of bereaved Brits now choose to avoid probate fees with DIY estate administration.