Dormant executor

jonno654

My father in law died recently. He left a will but it is ancient. It names the National Provincial Bank Ltd as executor. I think this bank merged into the Natwest in around 1968. Wikipedia says it still exists but is dormant.

The estate is very simple - modest property and a couple of bank accounts all going to the spouse. The family would like to admister the estate itself and save the bank's fees.

My question is whether the Natwest as "successor" to the National Provincial business becomes the executor by law. If not then the family would not have to ask the Natwest to renounce its executorship which I gather is by no means a given.

Many thanks for any assistance.

Mrs_P_Pincher

So many probate questions on here at the moment all reinforcing the two basic messages:

(1) Make a Will
(2) Review it every few years to make sure it's still up to date and what you want

I can't answer this question, but does the Will say 'National Provincial Bank Limited or its successors', or similar wording, or does it just say 'National Provincial Bank Limited'?

Mrs P P

jonno654

It just says National Provincial Bank Ltd but goes on "...the Bank may act...on the terms and conditions...set forth in the Bank's Trustee and Executor Regulations in force at the date of entering on the trust...".

Presumably the regulations may set out how succession is dealt with but I have no idea how to find these.

Thanks.

Errata

As FIL wished the modest property and a bit of cash to be inherited by his wife, it seems to me life would be much simpler if no will had been found as she would inherit everything anyway. If you get my drift.

Mojisola

Errata wrote: »

As FIL wished the modest property and a bit of cash to be inherited by his wife, it seems to me life would be much simpler if no will had been found as she would inherit everything anyway. If you get my drift.

That's what I was thinking!

Errata

Banks like to charge like a mad bull when they execute a will, so it would be considerably cheaper too.

WhiteHorse

It may well be that NatWest is now the executor. If so, that's very bad news as they will charge a fortune. Best check this one out with a solicitor - you don't want NatWest cutting up nasty later on.

Oldernotwiser

Errata wrote: »

As FIL wished the modest property and a bit of cash to be inherited by his wife, it seems to me life would be much simpler if no will had been found as she would inherit everything anyway. If you get my drift.

Funny that - the same thing happened when my father died.

Oldernotwiser

WhiteHorse wrote: »

It may well be that NatWest is now the executor. If so, that's very bad news as they will charge a fortune. Best check this one out with a solicitor - you don't want NatWest cutting up nasty later on.

How would they know?

jonno654

Thanks everyone for your posts.

My father in law was in process of writing a codicil when he died - this was in the hands of his lawyers and hence the will is out there already. The codicil was going to deal with a change in executors but just too late I'm afraid.

Does anyone have any experience of asking banks to renounce executorship?

WhiteHorse

Oldernotwiser wrote: »

How would they know?

A copy of the will may have been filed with their predecessors.

It's also possible that in the event of a dispute with anyone else named in the Will (or who thinks that they should have been), this might come to light.