Changing the Narrative in the Estate Planning Sector: Prioritising Expertise Over Price
Estate Planning in Recent Years In recent years, the estate planning sector has seen an increasing focus on online Wills, fuelled by digital advancements and shifting consumer behaviours. While the convenience and affordability of online Will writing services attract many, the narrative around estate planning has become worryingly focused on price rather than expertise. However, estate planning should not be reduced to a race to the bottom in terms of cost—it is, after all, about safeguarding your legacy and ensuring your loved ones are provided for in the way you intend. The Rise of Online Wills Recent research from Legacy Foresight has highlighted the growing prominence of online Wills, particularly among younger generations. The data shows that 83% of 35-44-year-olds and 71% of 45-54-year-olds don’t have a Will, with younger people being more likely to turn to online platforms when they decide to take this important step. As digital technology continues to permeate all aspects of our lives, it’s not surprising that many individuals turn to online services for the perceived simplicity and lower upfront costs. Yet, while online Will writing offers convenience, it may also create an environment where consumers make decisions based solely on price, rather than the quality of advice or expertise behind the service. The result? Wills that may not fully reflect the complexities of an individual’s estate, leading to unintended consequences for their families and loved ones. Expertise Matters in Estate Planning Estate planning is a deeply personal and often complex process. It’s not just about writing a document—it’s about making sure your assets are distributed according to your wishes, accounting for family dynamics, tax implications, and future needs. This level of consideration requires a deep understanding of legal and financial principles, which is why working with an expert is so important. A Will drafted without professional advice could potentially lead to costly mistakes, such as unclear instructions, mismanagement of assets, or even the risk of the Will being invalid. Furthermore, complexities such as blended families, businesses, and inheritance tax planning require more than a templated, one-size-fits-all approach. Expertise ensures that these intricacies are properly addressed, reducing the likelihood of disputes or legal challenges after your death. The Dangers of a “Price-First” Approach While it is understandable that people want to save money, choosing a Will writing service based solely on cost can have significant long-term implications. An improperly drafted Will or a failure to account for all legal obligations can result in substantial legal fees, tax burdens, and family disputes—outcomes that could far exceed the cost of using an experienced estate planning professional from the outset. Estate planning should be seen as an investment in your family’s future, not as an area where corners can be cut. A professionally drafted Will offers peace of mind, ensuring that your estate is handled with the care and expertise it requires. At SLS Wills and More, we believe that every client deserves a personalised approach, and our experience allows us to navigate even the most complicated estates with care and precision. Changing the Conversation It is time to shift the conversation in the estate planning sector away from price and back to the importance of quality and expertise. Consumers deserve to be informed of the risks involved in choosing a low-cost, cookie-cutter solution for something as important as their legacy. Estate planning professionals must continue to champion the value of personalised advice and comprehensive planning, ensuring that clients understand the potential pitfalls of cutting corners. At SLS Wills and More, we prioritise expertise above all else. Our founder, Sara Sheppard, has over 35 years of experience in the sector, is a Fellow of the Society of Will Writers, and holds TEP status—an internationally recognised qualification in trusts and estates. We are committed to providing our clients with the highest level of service, ensuring that their Wills are tailored to their unique circumstances, and that their legacies are protected. The Future of Wills: Striking the Right Balance As digital solutions continue to evolve, online Will writing services will undoubtedly play a role in the future of estate planning. However, it is crucial that these services do not become synonymous with cheap, one-size-fits-all solutions. Rather, there should be a balance—offering convenience and affordability without compromising on the level of expertise provided. As more individuals, especially younger generations, enter the estate planning market, we must ensure that they understand the importance of professional guidance. Estate planning is not just about the immediate, but about planning for future generations and ensuring that their financial affairs are in order. At SLS Wills and More, we are dedicated to helping clients navigate the complexities of estate planning with expert advice and personalised service. Contact us today to learn more about how we can help protect your family’s future and ensure your wishes are honoured.
