My Dad's Will

[Tilly2]

When he was fit and able my Dad went to Nat West and made his Will with them. I am the sole beneficiary and have a copy of the Will. The bank have the original and keep it in their archives.

I also have Power of Attorney for Dad's financial affairs


When he dies, what do I have to do? Do the bank sort everything out?

This may seem a bit callous but, when he does die, I won't be able to think rationally and want to be prepared.

Thanks.

[murraymints]

https://www.lawdepot.co.uk/contracts/last-will-and-testament-uk/#.Vq4fdLKLTNM

[Tilly2]

More good stuff. Thank you.

Can I award you all with a Best Answer?

[Tilly2]

Got to go now.

xx

[EDDIE51]

Tilley, Nat west fees for being executor of a will here
£1500 set up fee and then 1.5% of the estate up to £15,000.
http://www.natwest.com/Downloads/private/will-executor-service-tcs.pdf
If your Dad's affairs and will are simple that is a lot to pay! It is not hard to do it yourself.
As you have POA you can tell the bank that he no longer wants the bank to act as executor and just let them hold the will for safe keeping.

[ubasses]

Eddie - Tilly cannot give any instructions regarding a Will under Power of Attorney.

[EDDIE51]

Tilly ,just read the whole of my link.
If there is property involved that has to be transferred the bank can charge extra fees up to a further £9,000. So it could cost £24,000 for the bank to be executors !

[EDDIE51]

ubasses OK, but it makes sense to change the executor from the bank unless the estate is very complex.
Tilly get your Dad to change the executor unless you really feel you can't do it. There is a lot of free help available.

[Tilly2]

The estate will not be complex. Dad has no property and no debts. He has all his money in Nat West or National Savings.

I don't think it will take much sorting out.

[ubasses]

You are absolutely right, and to be honest I don't think Nat West will be concerned about losing the work. The easiest and cheapest way would to find a Codicil to change the Executor on line and download, probably around £5/£10, take it in ask & the Bank to put it with the Will. Make sure you get a receipt for lodging it and keep a photocopy.
I understand he probably wants you to do the work but it would be better if he takes the document into the Bank, then there can be no question that it is what he wants.

[EDDIE51]

Get him to appoint you as executor then and save at least £1500 .

[Peter Pedant]

If I spot BuenChico I will point him here
he has a handful of sites which tell you what to do on a death

I would get a the top copy of the will to be honest
a bank doesnt need to store it

and when he dies - you have to wind up the estate
here is one site to start you off
https://www.gov.uk/after-a-death/overview

Your difficulty only is if a lawyer or the bank have insisted they are also executors and then you are in their money grabbing hands - they can go slow and charge a bomb ( £200/h ). Oh and you cant fire them as executors

This would have been better under Law - Civl but you have had a few andwers from the usual suspects ....

and this doesnt look too bad
https://www.citizensadvice.org.uk/relationships/death-and-wills/dealing-with-the-financial-affairs-of-someone-who-has-died/

[Peter Pedant]

// When the time comes go to your nearest Job Centre and ask for help.
The Job Centre also has a duty as the place to go for help when a relative dies.// eddie

Do Once and Share has finally hit the govt depts.
I cdn't believe it- you report it at one place the Job centre and since the govt computers now all handshake ( ooer Mrs ! ) it gets seeded to the bits of officialdom that need to know.

Even the job centre clerk couldnt believe her eyes when she sort of glooped at the screen and said ' your friends death is already on here'.

[murraymints]

registry does tell us once when you register death

[Tilly2]

Lots of stuff for me to think about here.

Thank you all for your time and effort.

[EDDIE51]

Yes, Job Centres really are 'switched on' when it comes to help with reporting a death and making the arrangements. One function that very few people realise they have. When my Mum in law reported my Father in Laws death they even sat her down with a cup of tea and explained it all.

[Peter Pedant]

/ When my Mum in law reported my Father in Laws death they even sat her down with a cup of tea and explained it all.//

deffo depends on which job centre
the one I went to Oldham rd of course kicked off with treating me like a dosser and then the clerk said: " do whaaaaa ? am I ? "
and then " do once and whaaaaa? "
I had already announced I couldnt stand and got myself a chair
and then she looked at the screen and glooped and said ..... [ see above ]

even I was surprised ....[she had even bothered to turn the screen on ]

[Peter Pedant]

O and she thought I was the dead person and wanted to keep my passport - and his