A will-writing business has opted to be regulated by the Solicitors Regulation Authority as an alternative business structure despite employing only two solicitors.
Nottingham-based The Will Writing Company, a subsidiary of privately held business The Estate Planning Group, revealed today that it had achieved the status as an SRA-licensed body.
It said the move would allow its legal department to undertake reserved work such as sign-offs for family trusts and deeds of variation.
The business said that achieving ABS status is in line with its long-running campaign for will-writing to be regulated.
Tom Gormanly, chief executive, said that becoming an entity regulated by the SRA is 'our proudest day ever'. The company's legal team includes two qualified solicitors and two legal executives, working with 50 'consultants' across the country carrying out face-to-face meetings with clients.
Sally Brown, the business's head of legal, is a former chief executive of the Institute of Professional Will Writers, which two years ago shelved plans to create a regulator for will-writing England and Wales.
She told the Gazette that, following that decision, 'it was a natural progression to apply to become SRA-regulated, to give clients that extra protection which regulation brings'.
Such protection includes offering an avenue for pursuing complaints, as well as £3m in professional indemnity insurance cover required by the SRA for ABS status, she said.
Brown said that the company had briefly considered applying for regulation via the Council for Licensed Conveyancers but said that the SRA had 'better recognition' as a legal regulator.