Free Wills: The bankers’ ticking time bomb……
Free Wills seem to be offered everywhere these days. Whether it’s your pension company offering a bargain service, or leaflet in the back of the Radio Times, it appears that everyone is trying it and particularly doing it for free. However all that glistens isn’t gold, and nothing in this world comes for free……. Its recently been uncovered that in the late nineties and early noughties, many high-street banks were offering free or cut price Wills to their clients and staff. It is only now that many people who trusted their banks and wished for them to act as their Executors (ie the person dealing with the deceased’s assets) are realising the hefty costs they would be charged for administering simple Estates. Although a lucky few have been able to spot the potential costs before passing away, many people have had a loved one’s Estate being ground down by bankers administration fees ranging from £7000 to £32,000. At an already difficult moment, it’s hard to imagine the though...