Pre-Paid Probate
The FCA (Financial Conduct Authority) has issued a warning to consumers on the risks attached to pre-paid probate plans.
The plans, which are unregulated, has evoked unease throughout the legal profession and our Managing Director Trevor Worth was one of the most vociferous to campaign against them. The BEST Foundation (of which Trevor is the National Chair) lead campaigns for regulation or a complete ban on them.
The FCA noticed an increase of marketing for the plans in the recent months, ‘including firms and individuals associated with funeral planning firms that we did not authorise and whose customers lost money when they collapsed.’ Trevor, was recently quoted in the Today’s Wills & Probate publication as saying, ‘the BEST Foundation were the first estate planning organisation to challenge the sham of a product in the Summer of 2022, we were initially a lone voice until our shouting from the rooftops helped awaken others in the sector.