Letters of Administration 2011 Data Reveals UK Will Worries

June 17, 2012 - PRLog -- New Probate Service data on applications for letters of administration reveals that more people are making wills.  Figures also suggest these wills are more likely to be out-of-date or incomplete with a 5% rise in testators who fail to appoint an executor or representative that is able to act.

The annual 2011 data released from the Probate Service has shown that 15,553 grants of letters of administration were issued where the deceased made a will, BUT;

1.  failed to appoint an executor.
2.  the executors named in the will were unable or unwilling to act.  

That is a 5% increase on the previous year.

The figures revealed that 19% of probates were applications for a grant of letters of administration.  In other words, grants were issued involving estates where the deceased did not leave a will. This shows a 4% decrease in intestate deaths compared to 2010.

This suggests that intestate deaths are decreasing, but the cases of partial intestacy are rising.  Partial intestacy occurs when there is a will but it is incomplete or invalid.  Common cases are when a will does not fully dispose of the deceased's assets and where no executor is appointed.

Read more about letters of administration and intestacy - http://www.iwc-ltd.co.uk/letters-of-administration.html  

It was found that just 44% of all probate grants issued in 2011 came from Wills prepared by a qualified practitioner.  It is thought that this is in direct proportion to the number of DIY Wills being created.  

This may also validate the fears of The Legal Services Board about unregulated UK will writing services.  On April 23rd 2012 they announced plans to proceed with the regulation of will writing and estate administration.  

The problem could lie in the fact that people don’t update their wills regularly.  The named executors above may have been ‘unable to act’ because they could not be traced, or they may even be deceased.  This is suggests old, out of date wills.

The ‘shelf life’ of a will is estimated to be around 8 years.  During this period, based on averages it is prudent to suppose some significant life change or change in the law that may make a will irrelevant, invalid or no longer tax efficient.

Find out more about the importance of updating your will - http://www.iwc-ltd.co.uk/making-a-will__updating-a-will.html