What’s in store for the Wills and probate industry in 2019?

Title ResearchBy Legal Futures’ Associate Title Research

2019 is set to be a very busy year with increased probate fees on the horizon, as well as the potential and currently unclear impact of Brexit on the industry. In order to kick-start 2019, Title Research has made predictions as to what will be the most popular topics of conversations this year. Their blog post explores the following four areas:

Probate fees are due to increase

It currently looks like the government are set to push ahead and introduce a new structure of probate fees in April. The proposed changes would result in fees being based on the estate value, with costs ranging from £250 to £6,000. However, the current proposal has received much criticism, including concern from members of the House of Lords. This raises an important question about whether the government will move forward with the changes as planned?

Will Brexit impact the Will and probate sector?

There is much uncertainty when it comes to the impact of Brexit upon the legal sector, especially when it comes to how non-UK solicitors will qualify in England and Wales in the event of a no-deal Brexit. The Solicitor’s Regulation Authority launched a public consultation in December 2018 to ensure they’re prepared for every scenario.

More legal professionals are adding prices to their websites

From 6th December 2018, firms regulated by the Solicitor’s Regulation Authority were required to clearly present price and service information on their websites. Therefore, we expect to see more legal professionals advertising prices online, enabling consumers to make more informed buying decisions in 2019.

The increase of migration and blended families impacts estate administration

With both the number of blended families rising, and the ongoing increase of migration, we predict that we will increasingly see more complications with estates. It could make tracking missing beneficiaries and administering foreign and shares more challenging. In addition, we could see more people making claims against estates.

Click here to find out more about what’s in store for 2019.

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