Interest rate hike - Customer Services don't understand

Fruit_and_Nut_Case

the_insider wrote: »

I was just worried that they might withdraw the offer

the_insider wrote: »

I'm concerned that the offer to freeze the interest will be lost

This "offer" is your legal right. They can't withdraw it.

jonesMUFCforever

I do hope you have not been duped!
£300 for a will seems a lot to me unless you have millions and a lot of property.

noh

jonesMUFCforever wrote: »

I do hope you have not been duped!
£300 for a will seems a lot to me unless you have millions and a lot of property.

The OP said wills. So I assume it is 2 wills. In which case £300 is not too unreasonable.

chattychappy

noh wrote: »

The OP said wills. So I assume it is 2 wills. In which case £300 is not too unreasonable.

Yeah but from context they might well have been mirror wills.

Didn't want to comment as the OP wasn't seeking advice in this area. But apart from the obvious point that Will writers are not generally qualified to advise, one of their main "tricks" is to get themselves appointed as trustees or executors. Of course solicitors can do this too, but they are generally better regulated.

Panorama covered this recently: http://www.bbc.co.uk/news/uk-10885494 - really was a scandal.
Also info here: http://www.moneywise.co.uk/older-wiser/financial-wellbeing/article/2009/09/11/will-writing-scams-to-avoid or just google "will writer scam".

My own view (as a sol) is that either you are sufficiently skilled and your affairs are simple that you can DIY with the aid of internet/off-the-shelf packs etc., OR it's worth seeing a solicitor. If you want to use a proper solicitor but the thought of paying money to a lawyer just seems immoral, then there is http://www.willaid.org.uk/.

I did my own will when I was 18 using a pack from WH Smiths. After being trained in wills, estates and probate law many years later, I thought no excuses for not pulling it out and checking it over. It still stands today.

(Traditional disclaimer: Not giving advice here. I don't do wills. Except my own. And I did a mate's last year in return for a Chinese meal and still not had it yet. That reminds me.)

the_insider

The will writer is not an executor or a trustee, I've never heard of anything so mental in my life. 'Yeah I'll give this company all my money when I die!' Does that seriously happen?
Yes there are two wills, and they are no mirror wills as our situations are very different. The payment includes the first year's holding fee as well (which includes unlimited amendments).

Richard019

the_insider wrote: »

The will writer is not an executor or a trustee, I've never heard of anything so mental in my life. 'Yeah I'll give this company all my money when I die!' Does that seriously happen?

I'm not the expert on it but:

Unless I'm mistaken the executer of the will is the person who's responsible for ensuring that when you die what's been put in your will gets applied correctly.

Trustees are people who are given the responsibility of looking after certain elements of it. If you had kids and part of your will was that £10k would be held back until they were 18 but you died when they were 15. Until they turned 18 somebody would need to be in possession of the money.

It's not that you'd be giving them your money, I think the suggestion is that they'll in the best cases be using it to pick up extra business for themselves (there's going to be a fee for executing), and in worse cases using it to do a runner with your kids' money.

noh

the_insider wrote: »

The will writer is not an executor or a trustee, I've never heard of anything so mental in my life. 'Yeah I'll give this company all my money when I die!' Does that seriously happen?
Yes there are two wills, and they are no mirror wills as our situations are very different. The payment includes the first year's holding fee as well (which includes unlimited amendments).

What's a holding fee?

chattychappy

noh wrote: »

What's a holding fee?

It will be a fee for them to keep it stored in a filing cabinet somewhere. Hopefully there won't be a charge if it needs to be retrieved by the executors!

noh

chattychappy wrote: »

It will be a fee for them to keep it stored in a filing cabinet somewhere. Hopefully there won't be a charge if it needs to be retrieved by the executors!

Yes I suspected that.
Alot cheaper to keep it in your own filing cabinet or £15 one off to deposit it with the Probate service.