Appointing banks as Executors

Wills and Estates have hit the news this week as banks are criticised for charging estates after someone has died without the deceased person being properly advised in their lifetime that this would happen.

Several clients have asked us about this issue this week so here are a few FAQs on the subject:

Why did people’s estates get charged by banks after they had died?

If a professional executor acts in dealing with an estate then they will charge for the work done. This isn’t necessarily a bad thing because it means that the estate is being dealt with by someone with the skills, time and knowledge to deal with it in the best way possible.

The issue here is that the banks hadn’t given clients clear advice on what it meant for th