Author: Keiron Peel
Why Legal Services in the UK are Cheaper than in Most Places in the World..
Many clients in the UK Feel that they are paying toomuch for legal advice.
In this article, we are looking at the reasons why, in reality, the UK is very cost effective on legal fees.
Let’s start with a comparative.
If you take your car to a main dealer for work, the cost is currently (as at August 2024) at £92.11 per hour.
If you look at the cost of a UK Solicitor, the average legal fee for conveyancing is around £1,000 for the entire job. But what do you get for this?
From a time survey, the average time it takes to complete your legal work is 14.5 hours of work on a regular transaction. This makes it £68.96 per hour for a Solicitor to do the work for you. There are other costs on top of this (e.g. searches, tax and land registry fees) but the price per hour is really low.
What about hairdressing? surprisingly, any half decent salon is over £60.00 per hour.
Don’t get us wrong, a skilled mechanic and a skilled worker of hair magic are both very much worth their time. We would argue though that a profession such as law with the regulation we face may be pound for pound be a great investment.
So why is it cost effective?
1. Regulatory Framework and Market Competition
One of the reasons for the price of legal services in the UK is the enforced need to be clear on competition and pricing. Our own website has our literal price list displayed for everything we do.
We also have the legal services commission. Their role is to ensure fair and accessible legal services. A more cynical person may say it was in some part to make up for removing legal aid but we wouldn’t say that!
The introduction of the Legal Services Act 2007, for instance, was a significant step toward opening up the legal market. This Act allowed for the creation of Alternative Business Structures (ABS), enabling non-lawyers to own and invest in law firms.
The increased competition from ABSs and other legal service providers had the result in lowering prices across the board.
That said, an ABS, is normally run mostly by Solicitors and they always have to comply with tough regulation.
2. Technological Advancements and Legal Tech
The UK has been at the forefront of integrating technology into legal services, often referred to as “Legal Tech.” Manchester University is a world centre for technology and ai.
New technology has also automated many processes. By speeding up the admin, the Solicitors can work on the complex legal work. Concentrated legal advice!
We work with many legal tech companies. The Agent Site (www.theagentsite.co.uk) for example makes moving home easier, keeps you up to date and helps you fill in documents.
Death Cleansing? De-cluttering is a matter of Life…. And….Death!!
We recently came across the case of a 27 year old with no health concerns who is more prepared for death than most in later life. She has planned her funeral and decided what she would like to happen to her belongings and set up a digital account to share all her personal and financial information with her family.
Granted it is not what you would expect of a 27 year old but she had suffered a traumatising, near-death experience in a coach crash in Thailand and she realised at that point the unpredictable nature of life and decided that she should be prepared for death.
There is a general acceptance that making a Will and putting wishes in place is something that is done in later life. However, this case highlights our vulnerability and underlines the need, particularly in view of recent events, that everyone should have their affairs in order no matter what their age or circumstances as nobody can predict what may happen in the future.
It turned out that the young lady had unintentionally followed the Swedish concept of “dostadning” or ‘Death Cleansing’ which is getting widespread attention and gaining increasing popularity. It’s about encouraging people to deal with their life admin before they die rather than leaving it for their loved ones to deal with after they’ve gone. You make your life as clutter-free as possible by organising and de-cluttering your home before you die to lessen the burden for your loved ones.
As well as the legal side of putting your affairs in order which may include making a Will and Lasting Powers of Attorney, there are also practical considerations which may need to be sorted out and these can include: –
- Gathering together and putting in a safe place all personal and financial information and documents, such as your birth certificate, passport, driving licence, National Insurance and bank account details, pension plans, insurance policies, and ensure that your loved ones or executors know where they are kept.
- Set out any wishes you have regarding funeral arrangements. You could also consider putting in place a Pre-paid funeral plan.
- If you have internet accounts for emails or subscribe to social media or pay bills online or have other digital accounts, make sure that the passwords and any wishes regarding these accounts are recorded and stored safely and securely so they can be found after death.
- If you have any pets, you may want to think about who you would want to look after them if you die. You may have family members or friends that would be happy to help but perhaps not be able to keep them permanently. Therefore, consider your pet’s needs for both short term and long term.
- Think about making a plan for your future health and care needs so that whatever the situation, you have a plan in place. This will give you confidence that your wishes will be taken into account and you will receive the treatment and care you want. Discuss your plan with your family and friends and, if you have made a Lasting Power of Attorney, with your attorney so that if you are unable to make your own decisions, then your wishes are known and will be followed.
Let our specialist team at Baines Bagguley Penhale help with your own ‘Death Cleansing’!
We should be pleased to help provide advice and support in preparing Wills, considering Estate and Tax planning and completing Lasting Powers of Attorney.
Contact our office and ask to speak to Olivia Hodgson further details
