On 24th December 2014, The Law Society published an amended version of their good practice guidance for will writing professionals, with regards to preparing a will or lifetime gift. This is only focussed on when a client is leaving a gift to the will writer, one of their family members; or a colleague within the firm, or one of their relatives.
The previous version of the guidance was released on 10th October, which was covered and summarised in an article here on Today’s Wills & Probate, titled "Guidance for gifting in wills".
When viewing the latest release, the main change to note is the removal of one of the sections. In the initial version in October, a separate section regarding The SRA Code of Conduct was included. However this is now featured within section 2, with the overall numeration being altered as appropriate.
Section 2 on Preparing the will or lifetime gift, features the most significant amendments. In addition to the above change, this section goes into more detail on seeking advice from the Compliance Officer for Legal Practice (COLP) or Senior Responsible Officer (SRO).
Rather than the will writer assessing the circumstances as stated previously, this is now the responsibility of the COLP or SRO. They are advised to ensure the client gains independent legal advice and provides written confirmation of this.
The COLP or SRO is also required to provide you with a written summary of considerations of the client’s circumstances, along with an overall decision on whether further action needs to be taken. This must be retained within the client’s file.
Further additions to this section include advice on considering whether it is appropriate to continue with drafting a will, even if independent legal advice has not been sought. This is explored in more depth in the SRA Guidance on the Drafting and Preparation of Wills, which offers an example of a typical case when this may be appropriate.
The guidance section on Staff Members is now more concise. Details on seeking advice from the COLP or SRO has been removed, as this is demonstrated within other areas of the document.
If you require further advice on best practice for gifting in wills, contact The Law Society on 020 7320 5675 or email practiceadvice@lawsociety.org.uk.
