The cost of dying is now more expensive than ever before, but professional fees are also declining.
According to the recent Sunlife (2018), Cost of Dying Report, it now costs an average of £9,204, a 3.4% increase from 2017 figures. Staggeringly, this is also a 57.1% increase from the cost of dying in 2007, when it would cost £5,858.
The statistics focus on the average cost of a funeral, average amount spent on a send off and the average amount spent on professional fees.
Costs associated with the actual funeral day have skyrocketed within a year. The total spend on things like a memorial, limo hire, venue hire and flowers now exceed £2,061. This is a 6.9% jump in price from 2017. The rise has been attributed to factors like fuel and tax increases.
Whilst all aspects associated with dying cost more money and continue to rise, professional fees have declined. In 2018, professional fees cost an average of £2,872, almost £30 or 0.9% less than in 2017; highlighting the competitive Wills and Probate market.
When the average death is going to surpass £10,000 by 2022, those specialising in Wills and probate will need to ensure they remain competitive, setting themselves apart from the competition wherever they can.
A Willwriter will need to clearly highlight the services they offer, the unrivalled expertise their company can provide as well as explaining why your company’s services suggest value for money.
Promoting the quality service your firm offers on an industry respected platform will be more important than ever.
Embracing a professional body, like the IPW/ISPW, with its (CTSI) Chartered Trading Standards Institute approval for its Code of Conduct and with years of experience and a reputation for continued excellence could be the element that differentiates your business from any other.
Here at the Institute of Professional Willwriters, we can boast a 90% approval rating of ‘excellent,’ accentuating the industry leading, bespoke quality we offer.
Dennis Gardener, Chairman of the IPW/ISPW, said: “The consumer wants to know they are getting best service at a sensible price and our membership of CTSI makes us stand out as delivering quality in the profession.”
If you want to ensure that your company is recognised amongst the most well-respected companies in the industry, safeguarded from unethical and unqualified practices, then joining the IPW/ISPW would be a prudent decision.
To become an IPW member, click here.
This article was published by the submitter (as named above) as part of their advertising agreement with Today’s Wills & Probate.
The views expressed in this article are those of the submitter and not those of Today’s Wills & Probate.
