New research examining the markets for probate and estate administration released

15 March 2012

The Legal Services Board (LSB) is today publishing two new pieces of research into probate and estate administration.

The consumer research, conducted by YouGov, highlights the circumstances in which services are used, who is most likely to use them and the experience that consumers have throughout the process. Findings indicate that about half of consumers don’t use professional services, while for those who do seek paid for advice costs tend to vary significantly between providers, with delay being the main source of dissatisfaction.

The report by IFF Research examines the provider perspective on delivery of these forms of advice. It looks specifically at the share of the market taken up by each different type of provider, as well as their arrangements for delivery and the respective risks.

This work supports the statutory investigation, conducted under Sections 24 and 26 of the Legal Services Act 2007, into whether the market for will-writing, probate and estate administration ought to be regulated differently. This is in response to findings from the Legal Services Consumer Panel, released last year, which identified evidence of consumer detriment. While the early investigation into will-writing produced compelling evidence, as well as highlighting the link between will-writing advice and estate administration and probate, the need for further evidence in relation to these associated services was identified.

The LSB will be issuing proposals as a result of its statutory investigation into the regulation of will-writing, probate and estate administration in late April.

For more information about the research please contact Alex Roy on alex.roy@legalservicesboard.org.uk or by calling 020 7271 0060.