DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "UK Wills & Probate Market Briefing 2016" report to their offering.
The UK Wills & Probate Market Briefing is the third edition of an annual Market Briefing and provides an overview of the UK wills and probate market.
The market remains fragmented with many smaller players, including some that are un-regulated, but more volume players are slowly beginning to emerge. Market growth will continue to be limited primarily due to low prices, intense competition, and little growth in the number of adults with a will. The first two factors are key obstacles to growth identified by practitioners in the sector. Low single-digit value growth is forecast for the next 2 years.
There are some opportunities in specific sectors such as arranging a Lasting Power of Attorney (the number of LPAs has increased substantially in recent years), more probate and estate administration work, and additional services such as living wills, care plans, and bereavement services. The percentage and number of over 60s in the population will increase year-on-year over the next decade and this will help the sale of wills and the above additional services.
In the probate sector, fixed price services are becoming more commonplace although more individuals are bypassing professional advisors and undertaking estate administration themselves.
In the annual survey of 60 providers of wills, the average price of a standard single will is £85 (a slight increase on £83 in 2015). The average price for wills from law firms/ solicitors is £120 (£118 in 2015). These are based on quoted fixed prices and, of course, more complicated wills can be much more expensive and the pricing survey takes no account of the quality of the wills provided.
Key Topics Covered:
1. Introduction
2. Report Summary
3. Market Size and Trends
3.1 Will Ownership
3.2 Lasting Power of Attorney
3.3 Probate
4. Key Players
4.1 Overview
4.2 Law Firms and Solicitors
4.3 Will Writing Companies
4.4 Online Wills
4.5 Probate
4.6 Selected Players
- Chorus Law Group
- Cooperative Legal Services
- Estate Planning Group
- Irwin Mitchell
- Kings Court Trust
- Lawpack Publishing
- Redstone Wills
- Simplify
- Simpson Millar
- Slater & Gordon
- Thompsons Solicitors
- Trust Inheritance
- Which? Legal Services
5. Market Value and Prices
5.1 Market Value
5.2 Prices
6. The Future
6.1 Market Trends and Forecasts 2016-18
6.2 Wills & Probate Practitioner Survey
6.3 Recent Developments
7. Associations
For more information about this report visit http://www.researchandmarkets.com/research/mqcz7w/uk_wills_and
