Core Legal member, IRN Research, publishes briefing on wills & probate market
The UK Wills & Probate Market Briefing is the second in a series of annual Legal Market Briefings from Core Legal co-founder and member IRN Research.
The majority of adults in the UK have yet to make a will so there is potential to grow the market.
The market is still fragmented with many smaller players, including some that are un-regulated, but more volume players and well-known consumer brands are now around. Brands like the Coop, Saga, Which?. Growth will come from a combination of: more fixed price services not just for wills but increasingly for probate and estate administration services; more main media advertising by some of the major players; the bundling of wills with other products such as insurance and pensions; more publicity around charitable legacies linked to wills; and big consumer brands targeting their large client bases with special offers on wills and probate services
In February 2014, an IRN survey of 54 will providers found that the average price of a standard single will was £84. The average price for wills from law firms and solicitors was £124; from will writing companies £84; from online will providers £44. These are based on quoted fixed price rates and more complicated wills can be more expensive while the survey takes no account of the quality of the wills provided.
The briefing (23pp, PDF), is available directly from IRN Research, priced at £105/€122/US$160. UK sterling price is plus VAT so total price is £126.
A market research agency with a particular focus on the legal services market. We offer a range of bespoke research services, on an ad-hoc and continuous basis, to law firms and suppliers to the sector. Further information on the report or research services from David Mort on +44(0)121 635 5210 or firstname.lastname@example.org.
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UK Wills & Probate Market Briefing 2014
Table of Contents
1. Introduction & Summary
1.2 Report Summary
2. Market Size and Trends
2.1 Will Ownership
3. Key Players
3.2 Law Firms and Solicitors
3.3 Will Writing Companies
3.4 Online Wills
3.6 Selected Players
Chorus Law Group
Cooperative Legal Services
Estate Planning Group
Just Wills Group
Kings Court Trust
The Law Wizard
Slater & Gordon
Which? Legal Services
4. Market Value and Prices
4.1 Market Value
4.3 The Future
6. Recent Developments
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