According to recent reports, the value of the wills, trusts and probate market topped £2bn for the first-time in 2021. The report produced by IRN Research, UK Wills, Probate & Trusts Market Report 2022, recorded strong growth over the past year. They also said that contentious work will continue to rise, and they expect the market to reach £2.4bn by 2025.
IRN said: “The demand for will-writing services plus will updates is likely to increase and the availability of new digital services may encourage more adults to make a will.
“Probate and estate administration work is going to increase in the short term due to a growing number of deaths in the pandemic, and more adults who are likely to die intestate without a will.”
The report also states that the number of firms offering contentious wills, trusts and probate has more than doubled since 2018. There are now 646 firms that offer the service.
IRN also state “More firms are offering a holistic approach with a broader range of services to deal with all aspects of estate planning and preparing for changes in later life,” which shows the growing demand for related services.
How this May Affect Contested Probate Cases
IRN Research also conducted a survey in 2021 about Will-writing, and in this survey, they found over three-quarters of law firms surveyed saw increases in both workloads and revenues in the previous year, the highest percentage since the survey began in 2016. Eight out of 10 were also confident about the year ahead and are expecting increased workloads.
At The Inheritance Experts, we can help with contesting probate and Wills, and claims under The Inheritance Act (1975). So if the market does rise at the rate that IRN Research state, then the solicitors we work with will be well-equipped to handle claims.
The type of claims we handle at The Inheritance Experts include:
- Contesting a Will
- Contesting Probate
- Inheritance Act Claims
- Trust and Inheritance disputes
If anyone believes a will is not legally valid, it’s their right to challenge it. Valid grounds for contesting a will include:
- If the testator was not in their right mind when they sign the last Will.
- They were unaware of what they were signing.
- The will was drawn up incorrectly or is completing without valid co-signing witnesses present.
- Forgery of the signature(s), which requires handwriting expert to prove.
- The beneficiaries have a right to the estate. Yet there is either no naming of them, or the caring for them is inadequate.
How We Can Help with Wills and Probate
Here at the Inheritance Experts, we work with solicitors who have years of experience dealing with inheritance matters. This includes contentious probate and Wills. Contact us by filling in our contact form. Or call us on 01614138763 to speak to one of our friendly experts.