A consumer awareness and comparison website has launched what is describes as independent ratings for online will writing services to tackle ‘growing concerns that the rise in DIY wills could lead to future disputes or even render wills invalid;’ levelling criticism at industry practices including
Fairer Finance has launched a new set of product ratings for online will-writing services and criticising some providers for what they describe as a failure to properly advise on correct process for correct execution of wills, ambiguous wording, and access to secure and safe storage.
“Writing a will is one of the most important things you can do to protect your loved ones, and it needs to be done right. Too many online services make the process seem quick and easy, while failing to flag the risks or provide any legal support. While technology has made will-writing more accessible, it has also introduced serious risks.
said James Daley, managing director Fairer Finance.
A poorly drafted or invalid will can create stress, disputes, and financial loss for families at the worst possible time. Our new ratings aim to expose those shortcomings and help consumers identify which services are genuinely safe and trustworthy.”
Fairer Finance’s say their market research found examples of providers’ not being clear about the level of advice provided as part of the service; and whether the advice was regulated or not. The research also found six example of providers who did not ‘clearly communicate when a will might be unsuitable for customers with complex needs, failing to warn users or stop the journey when complexity is detected’; and only eight providers provided a clear warning about testamentary capacity. Seven providers limit their liability to the price paid for the will, and another two cap their liability at £1,000.
When challenged by the results by this publication Fairer Finance explained
“Online will-writers are ultimately online decision tree and form-filling journeys. Some of these end up with the customer talking to a qualified solicitor – who then verifies that they have got everything right and that the will meets their needs. If they have received advice from a solicitor then they have the regulatory protections that come with legal advice – recourse to the legal ombudsman etc. Solicitors also have significant professional indemnity insurance.”
The ratings system developed by Fairer Finance is based on a series of weighted ‘red line’ criteria which includes
- whether the document is checked and by who (solicitor/ will writer/paralegal);
- whether the provider adheres to ‘industry averages’ when it comes to cost, including document binding and delivery, changes to the will, and fees for retrieval.
- clear signposting on the proper execution of a will.
- the provider must also provide a ‘warning or a tick box’ to confirm the testator has capacity to make the will.
The weightings system, which is outlined on the Fairer Finance website, assigns nearly half of the overall score (40%) to the practice of firms making themselves the executors. Five out of 11 providers in their research offering professional executor services fail to disclose the fees for it at the point of selection.
“Some online will writers will make themselves an executor and in exchange, take a percentage of your estate. We believe this is unacceptable so anyone doing this will fail this red line”
says the guidance document, which also outlines firms must make clear whether they are regulated or not by the Solicitors Regulation Authority (SRA). ‘This should be on the main page, not in the terms or FAQs and can be achieved by text or a logo’ says the guidance; important information for the purposes of complaints and redress it adds.
Indeed, pushed on the views of Fairer Finance toward the unregulated community James Daley responds
“It’s a fact that online wills are not subject to any more regulation than general CMA rules. Our position that some online will-writers are creating wills that are not enforceable is based on conversations with legal professionals and academics in the sector – and our analysis of the journeys. In many cases, there is nothing done to mitigate these risks – so it is reasonable to assume that many people end up creating wills that could be invalid and successfully changed… and having legal advice means that you are more likely to end up with something that meets your needs. And, if it doesn’t, there are rights of redress. So that is why that is included as a red line.”
Of the 18 providers listed on the website, only SRA-regulated Hugh James, and unregulated bequeathed, receive five star ratings.
