Barclays/Zedra Willsafe

[Hotpinkangel19]

Does anyone know anything about the bank being an executor of a will? What does it mean/what happens? I don't understand what will happen next?

Much the same as if a Solicitor were but apparently more expensive.

What is the context? Is this a new Will for you, or is it the will of a late family member?

My mum passed away 11 weeks ago, and my dad passed away 3 days ago, @Poosnu.
I am a complete novice and have no idea about things like this. Dad/Mum appointed them as executor as I was 5 when the Will was made - it's never been changed.

As things stand they will act as executor and administer the estate, and charge their normal rates for doing so.

However, you can request that they stand down (renounce executorship). They don't have to, but may agree in your circumstances. Ask your lawyer to explore this with them.

I don't have a lawyer.... do I need one?

If the estates are fairly straightforward you can do everything yourself. But if it's complicated (trusts etc) or you're not feeling up to it then either them or a solicitor can deal with it. But do ask for an estimate of costs first. I'd imagine the banks costs will be exhirbitant, but you can ask them to renounce and let a cheaper solicitor do the work if you'd prefer.

You need mumblechum - sorry, I think there's 01 at the end of her name but can't remember. She's a professional Will writer.

Thanks Imperial, tho' I don't do probate, just will writing.

OP, firstly I'm so sorry you've had two bereavements in such a short time. Banks are notorious for charging a percentage of the estate for often quite basic admin tasks so I suggest that you firstly ask them for a quote and if it's going to be silly money, ask that they renounce executorship.

It's actually pretty easy to deal with probate yourself if the estate isn't over the inheritance tax threshold (for your parents it would be £750,000.).

@mumblechum0 all it is is sacings/current account under £15, 000, plus a small property of around/ under £100,000. Doesn't seem too much? No debt, mortgage paid off.

Savings i meant! Thank you to everyone for your help.