Do your clients have a Will written by their bank?

Their family could face paying thousands of pounds in executor fees

An article shared on the Mail online last week has unvealed that between the late 1990’s and early 2000’s, up to 1.5 million customers signed up for a Will writing service with their bank. Wills were offered for very cheap, or free in some cases. However, to qualify for cheap Wills, customers had to agree to the bank being their executor and charging 2.5% – 4.5% for this service.Banks are still offering will-writing services. Natwest and sister bank RBS charge 2.5 per cent, plus a £1,500 charge up to a maximum total fee of £15,000. Lloyds charges 2.5 per cent on the first £1million of wealth.

Before Barclays sold its will-writing business, it had been charging 4.5 per cent of the first £100,000 of an estate, followed by 3.5 per cent of the next £400,000.

Save your clients thousands of pounds

If you find a client who does have a Will written by their bank, it is easy to re-write it with our simple to use will-writing software. The client’s wishes can remain the same, but they can be given a choice of executor. They can choose a trusted family member or friend or, if they wish to appoint a professional, our legal partners charge just 1.5%

Learn more about our Will writing software

Remember, if you do not wish to write the Will yourself, you can use our referral service. Simply complete a one page referral form and we will contact your clients and take their Will instruction over the phone.

Learn more about our referral service

If you would like to learn more about our referral service, or our will writing software. Please do not hesitate to get in touch with the office.

T: 01564 732 740
E: admin@therightwill.co.uk