National firm Taylor Rose TTKW has bought a will-writing alternative business structure (ABS) which collapsed into administration last month. Nottingham-based The Will Writing Company appointed administrators last month.
Taylor Rose, together with Philips Trust Corporation, said yesterday it had purchased the ‘assets and database’ of TWWC and the Family Trust Corporation. The firm did not reveal how much it paid.
Richard Wells, managing director of the Philips Trust Corporation, said: ‘This marks a landmark change and presents a key opportunity to secure the future of the business. This acquisition will mean further business development, as well as creating employment opportunities in both Lichfield and Manchester.’
The firm said it plans to run a probate department in the ‘near future’ to service the requirements of the company’s customer database. A contact centre will be set up in Manchester’s MediaCityUK to receive and make outbound calls to customers.
The Solicitors Regulation Authority (SRA), which authorised TWWC as an ABS less than two years ago, confirmed on its website that TWWC ceased to practise at the end of 2017.
When TWC applied for the ABS it said it would allow its legal department to undertake reserved work such as sign-offs for family trusts and deeds of variation.
In June 2016, when the licence became effective, the firm’s chief executive Tom Gormanly said that becoming an entity regulated was its ’proudest day ever’. The business model involved two solicitors and two legal executives working with 50 ‘consultants’ across the country meeting clients in person.
No reasons have yet been given for the collapse of the company, with administrators’ reports still to be published.