Bank named as executor in mum's will

securityguy

I suspect that banks are aware that if they started enforcing their executorships on unwilling relatives and beneficiaries, they would be opening up a mis-selling can of worms that they really don't want to get into. So unless they have absolutely cast-iron evidence that they did explain the scale of fees and charges, and that those explanations were understood, it's going to be safer to renounce than to add another ombudsman case to a pile which, when it gets large enough, will be heavy enough to trigger an FCA investigation.

Rodders53

DO remember to get Dad to make a new will naming new (family?) executors asap...

You got away with it on Mum's death but the Bank may have a different view when there's the house and cash and ££££ signs light up ....

oddball165

Rodders53 wrote: »

DO remember to get Dad to make a new will naming new (family?) executors asap...

You got away with it on Mum's death but the Bank may have a different view when there's the house and cash and ££££ signs light up ....

I was made aware of this when the lady on the phone said 'When the second person dies that's the estate we make the money on!"

I enquired straight away about how to change the will and was told it was very simple.

Dad has already stated that he wants to change his will so that when the time comes we do not have the problem all over again.

growler834

My dad is wanting to change his will. It was a mirror will of mums & she passed away earlier this year. The executors were my brother & the solicitor but he happily renounced executorship as mum had very little estate to leave to dad. However, when dad passes the solicitor will no doubt want to be executor as there is a house to sell etc. Dad wants to replace the solicitor with me (and still keep my brother too). The will is straightforward - estate (about £120,000) split 4 ways between me, my brother & my brother's two adult children.

My question is - does he have to go to the trouble & expense of seeing a solicitor to make a new will (changing one name for another only) or is it ok to get a DIY Will Kit, use the wording in the old will & just change the executor's name & get 2 witnesses (his best friends) to sign it? Any advice would be great.

Mojisola

growler834 wrote: »

My question is - does he have to go to the trouble & expense of seeing a solicitor to make a new will (changing one name for another only) or is it ok to get a DIY Will Kit, use the wording in the old will & just change the executor's name & get 2 witnesses (his best friends) to sign it? Any advice would be great.

There's no need to use a DIY form. Just copy - very carefully - the exact wording of the current will but change the dates and the name of the executor and get it signed and witnessed properly.

Savvy_Sue

Mojisola wrote: »

There's no need to use a DIY form. Just copy - very carefully - the exact wording of the current will but change the dates and the name of the executor and get it signed and witnessed properly.

But do make sure you understand what Mojisola means by 'properly'. Beneficiaries cannot be witnesses. The witnesses have to see Dad sign, and sign there and then.

Personally I'd use a solicitor, even for this.

g6jns_2

growler834 wrote: »

My dad is wanting to change his will. It was a mirror will of mums & she passed away earlier this year. The executors were my brother & the solicitor but he happily renounced executorship as mum had very little estate to leave to dad. However, when dad passes the solicitor will no doubt want to be executor as there is a house to sell etc. Dad wants to replace the solicitor with me (and still keep my brother too). The will is straightforward - estate (about £120,000) split 4 ways between me, my brother & my brother's two adult children.

My question is - does he have to go to the trouble & expense of seeing a solicitor to make a new will (changing one name for another only) or is it ok to get a DIY Will Kit, use the wording in the old will & just change the executor's name & get 2 witnesses (his best friends) to sign it? Any advice would be great.

The consequences of getting it wrong are high. For the £100-150 it is far better to get it done by a solicitor, not a will writer, and have peace of mind. The solicitor will also advise of any other changes that may be required. Just copying the existing will with changes is bad advice. Note that Free or cheap will week is due shortly.

growler834

Thanks for the advice everyone. I will speak to him about the 'free will' week that our local hospice is doing with local solicitors.

troubleinparadise

The point of this website is to work out how to do things economically - but sometimes it is worth spending more than you might like to ensure that something is done legally.

For an estate of £120,000, the couple of hundred £s is a small price to pay for ensuring the legality of the will and buying peace of mind. Sometimes saving a few pounds but running into big problems later is a false economy.

g6jns_2

growler834 wrote: »

Thanks for the advice everyone. I will speak to him about the 'free will' week that our local hospice is doing with local solicitors.

The will may be free but you should make a reasonable donation to the hospice in lieu of the fee.