Susan Peck of Healys LLP on preparing a will
Where there’s a will…
Will preparation can present real problems. Time and specialist knowledge is required in preparing a will, particularly if a person’s financial affairs are complex or they have an extended family. Over the years disputes arising from the preparation and intent of wills have increased. The legal profession is seeking to address these issues and to reassure the public that persons who provide advice and assistance in making a will are properly regulated.
A body involved in regulation is STEP (the Society of Trust and Estate Practitioners, www.step.org). This is an international professional body for those who work in the trust industry and the (often overlapping) field of wills and estate administration. Its members are mainly lawyers, barristers, attorneys, accountants, trust officers and trust administrators, as well as banking and insurance professionals in the trust field. STEP has branches in 81 countries with a current membership in excess of 17,000.
“The launch of a new Code for Will Preparation lays out a set of ethical principles”
The main focus of the organisation is to ensure the quality of the membership, to provide educational and networking opportunities for STEP members and to contribute to debate and public policy in its specialist field.
The designation TEP after a member’s name is the only widely recognised mark for professionals in undertaking advice and preparation of wills. Earlier this month, STEP announced the launch of a new Code for Will Preparation in England & Wales for STEP members preparing wills in England and Wales. The Code lays out a set of ethical principles that demonstrate openly the standard of transparency and service a client can expect from a STEP member preparing their will. The Code, which takes effect from 1 April 2014, bolsters the existing STEP Code of Professional Conduct and will apply to all STEP members in England & Wales who prepare wills.
If you would like advice and assistance to help you decide on making a will please contact Susan Peck TEP, Healys LLP, (01273 685888, susan.peck@healys.com) who is a member of the Society of Trust and Estate Practitioners.
