Few people relish a visit to a solicitor, and to some extent understandably so. Legal advice rarely, except perhaps when buying or selling a property, results in an obviously positive outcome in the sense of coming away with something you want. It tends to be more a case of need when it comes to legal advice, planning for the future perhaps, such as making a will or dealing with an unwanted situation such as probate for a loved one.
Consumers also tend to baulk at the cost of legal advice. Being advised that a legal issue will cost £200.00 plus VAT per hour or more will worry most people, especially if they don’t know what the final cost will be, haven’t put money aside for the issue and don’t understand why the charge seems so high.
From the lawyer’s point of view, they are very heavily regulated, the job is highly skilled and overheads, including g extremely costly professional indemnity insurance, mean that the hourly rate bears little reflection to their net profit.
Having said all of the above, research indicates that in many situations, consumers will simply not use a solicitor, in situations where really, they do need legal advice. So, anything that bridges the gap is both worthwhile and has an opportunity for an excellent market share.
Step forward the new breed of interactive legal document companies, who, in a growing number of legal areas, offer a solution which is fast, much cheaper, and offers a degree of comfort which simply buying a legal document off the shelf can never offer.
There are several new suppliers in the Uk, such as Mylawyer and Rocketlawyer who have an in-house team of lawyers and a cutting edge team of software engineers. The lawyers draft up and review regularly interactive, consumer guided documents such as wills or divorce documents, and the tech guys make completing the forms, with guidance, nice and easy. You don’t get the indemnity cover, so need to make an informed choice on this, but you can access an independent solicitor also to review what you have created.
Clearly, these documents and contracts cannot and do not deal with the panoply of legal problems and issues which we may face, but they certainly offer greater choice on both cost and service level, which can only be good for consumers and the legal market.
Vist http://www.mylawyer to see what they offer in terms of divorce forms or power of attorney templates to name but a few f their many documents.