Will writer suggests 'substitute executor & trustee'

castle96

Son and daughter in law have made (first) mirror wills. They have appointed 4 family members as Execs/Trustees. Will writer inserts a "substitute exec/trustee" in casr any of the 4 are unwilling/unable.
Sounds 'suspicious' ? (business relationship ?). He says he always does it.

The substitute is Probate and Trustee Services Ltd / SWW Trust Corpn. Based in Lincoln.

Their fee to deal with things is 1.5% ("Cheaper than a solicitor" says Will writer.

Any thoughts/advice please. Thanks

JGB1955

Maybe cheaper than a solicitor but NOT cheaper than the DIY option.

Mojisola

castle96 wrote: »

Son and daughter in law have made (first) mirror wills. They have appointed 4 family members as Execs/Trustees. Will writer inserts a "substitute exec/trustee" in casr any of the 4 are unwilling/unable.
Sounds 'suspicious' ? (business relationship ?). He says he always does it.

The substitute is Probate and Trustee Services Ltd / SWW Trust Corpn. Based in Lincoln.

Their fee to deal with things is 1.5% ("Cheaper than a solicitor" says Will writer.

Any thoughts/advice please.

If they think there is any chance that none of the four named executors will be able to act, they can name someone else as a substitute - no need to use a professional.

I hope they aren't being ripped off by the will writer - these firms are rarely cheaper than having the will done by a solicitor.

castle96

****** is part of a group of companies that work together to provide a full and comprehensive service supporting clients and their finances in any situation. I will be able to introduce you to our other member firms when required. We have a panel of Solicitors who can help with conveyance and land registry issues. Your property may need to be protected with Buildings & Contents Insurance.


We can provide you with a quote at your renewal through our General Insurance comparison firm. You will need to consider protecting your assets, income and family with a life, income or critical illness insurance. Our Will Writing & Estate Planning service can help when preparing your Wills, Lasting Powers Of Attorney and advising on trusts and probate. We can introduce you to Mortgage Brokers who can source the whole market to get you the most competitive commercial and residential mortgages. We can introduce you to a panel of lenders who can offer Secured and Unsecured Loans. We have an Independent Financial Adviser as one of our Affinity Partners who can help with Pensions, Savings, Equity Release and Long Term Care Planning. Our Debt Management Affinity Partner firm can give advice on areas including IVA and bankruptcy.

We will provide you with an alternative to your existing provider for your Essential Utility Services which will include your phone and broadband. We have a Referral Strategy which we think rewards both the existing and future clients. We pay £50 to you as a "Thank You." This is paid for every referral that we receive from you that complete business with us. Our Review Service allows you to choose the level of service you would like to receive. We would ideally like to review your business regularly, usually every 12-18 months. As a ****** Private Client, we will add you to our News Letter if you wish. We would be your central contact that you can call if you needed any advice going forward.

We will not charge you for our Will Writing & Estate Planning Service. We would simply ask you to make a donation to one of our chosen Charities. The size of the donation is at your discretion. The charities we prefer are Cancer Research, Birmingham Children's, The Dogs Trust, Meningitis Trust, St Giles Hospice and YMCA. You may have your own preferred charity if you wish.

Yorkshireman99

castle96 wrote: »

****** is part of a group of companies that work together to provide a full and comprehensive service supporting clients and their finances in any situation. I will be able to introduce you to our other member firms when required. We have a panel of Solicitors who can help with conveyance and land registry issues. Your property may need to be protected with Buildings & Contents Insurance.


We can provide you with a quote at your renewal through our General Insurance comparison firm. You will need to consider protecting your assets, income and family with a life, income or critical illness insurance. Our Will Writing & Estate Planning service can help when preparing your Wills, Lasting Powers Of Attorney and advising on trusts and probate. We can introduce you to Mortgage Brokers who can source the whole market to get you the most competitive commercial and residential mortgages. We can introduce you to a panel of lenders who can offer Secured and Unsecured Loans. We have an Independent Financial Adviser as one of our Affinity Partners who can help with Pensions, Savings, Equity Release and Long Term Care Planning. Our Debt Management Affinity Partner firm can give advice on areas including IVA and bankruptcy.

We will provide you with an alternative to your existing provider for your Essential Utility Services which will include your phone and broadband. We have a Referral Strategy which we think rewards both the existing and future clients. We pay £50 to you as a "Thank You." This is paid for every referral that we receive from you that complete business with us. Our Review Service allows you to choose the level of service you would like to receive. We would ideally like to review your business regularly, usually every 12-18 months. As a ****** Private Client, we will add you to our News Letter if you wish. We would be your central contact that you can call if you needed any advice going forward.

We will not charge you for our Will Writing & Estate Planning Service. We would simply ask you to make a donation to one of our chosen Charities. The size of the donation is at your discretion. The charities we prefer are Cancer Research, Birmingham Children's, The Dogs Trust, Meningitis Trust, St Giles Hospice and YMCA. You may have your own preferred charity if you wish.

Avid like the plague. Use a proper solicitor.

Browntoa

As above , proper solicitor will is the only way to go

Tom99

Yorkshireman99 wrote: »

Avoid like the plague. Use a proper solicitor.

Or at the very least strike out their substitute.

castle96

yeah, don't 'like' the idea of this substitute (not that with 4 others, it would ever kick in). Have seen both Wills (they seem OK otherwise - but obviously I am no expert). They are not married/yet,, so would need to be redone if/when they do. Of course the attraction is the no cost aspect. It would seem as though Will writer hopes for future business tr mortgages/insurance, etc. It was me that prompted a revision of Life cover/Will, etc. IFA is doing the Life, this is his Will guy

Robin9

castle96 wrote: »

....................................

Their fee to deal with things is 1.5% (...........................................................

1.5% of what ?

castle96

1.5% of the Estate

Mojisola

castle96 wrote: »

They are not married/yet,, so would need to be redone if/when they do.

If a marriage is likely in the near future, these wills could be made 'in contemplation of marriage' and then wouldn't need to be redone after the ceremony.