Creating a level playing field for probate
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I am glad that probate continues to be a reserved activity under the Legal Services Act 2007.
However, it would be naive not to consider that one day the reservation of probate may be removed, and solicitors need to plan accordingly.
As a profession, we will vehemently oppose such a move for obvious reasons associated with the risks to client monies, how it could contribute to a rise of fraudulent activity and argue how, for greater consumer protection, these functions should remain reserved.
The Law Society will assist us in that plight, and has already done so by implementing the Wills Inheritance Quality Scheme (WIQS), which was introduced to differentiate us from ‘the competition’.
WIQS has been created to set us apart from competitors. But if this quality can be attained by other institutions, isn’t there an argument that this should be an industry standard? And, if so, providing it is attained and monitored, that other organisations could join?
Of course, we have to admit that we will oppose it also for commercial reasons. Services being offered at a potentially lower base cost and the
resultant loss of a marketshare presently dedicated to us
would be detrimental.
After all, it’s difficult to compete with organisations
not bound by the same rules.
If this work was unreserved, more unregulated personnel could complete the task in an entirely unregulated environment. But if there was
an industry standard in place and we were all subject to the same rules, would we mind it being removed as a ‘reserved activity’? This would enable us to compete on similar grounds and ensure a service level to the client while
it remained regulated.
So long as the organisations were subject to the same costs and regulations, I would approve.
Currently, we can be thankful that there is a requirement for us to be involved and therefore a point in the process where the application is verified, which affords the consumer some protection. Without our involvement, risks to consumers become higher, and their protection diminishes.
With the loss of protection comes a loss of faith in the profession and legal services in general. The perception lags behind reality; as a whole, we are more proactive and more efficient than ever and we are able to pass cost savings on
to clients.
When the decision is made, I hope an industry service level is set, as the difficulties we all face will become evident. SJ