Five big factors in the £1.27bn UK wills, probate and trusts market
By International Adviser, 31 Oct 17
Fragmented and largely unregulated, the UK wills, probate and trusts market was worth £1.27bn last year, but this is set to grow, according to market research company IRN Research.
Will writing could become a regulated activity
According to IRN, 65,000 wills were written by unregulated will writers. Most are members of self-regulatory bodies.
In Scotland, the government is considering enforcing the Legal Services (Scotland) Act, which would reserve will writing for solicitors.
In the rest of the UK the Law Commission has launched a wide-ranging consultation on wills. IRN concludes that regulation could drive many lower-price operators out of business.
Tags: Wills And Trusts
