Former Will

[seadogg]

In the 80's I made a will with the former Midland Bank in which they were named as executors.

A few years ago we did another will as we had long since changed banks and we wanted a close friend and family members as executors.

To my surprise we received a letter from HSBC, who took Midland over stating that they were storing the old will.

To my understanding, the new will automatically revokes the previous one and we may ignore the letter. Am I right?

[Barmaid]

As long as your new will includes the phrase "I hereby revoke all previous wills and testamentary dispositions" or something of that nature, yes, the new will completely revokes the old Will and you can ignore.

(Although I'd write to them and ask them for the originals so they can be destroyed).

[seadogg]

I wondered if that might be advisable Barmaid and will do it.

Many thanks.

[Buenchico]

Any properly drafted will will contain these words: "I hereby revoke all former Wills and testamentary dispositions made by me" (or something similar).

So, as you suggest, HSBC are storing a meaningless piece of paper. You could (as you again suggest) simply ignore the letter.

However I'd recommend getting HSBC to send you the old document, so that you can destroy it. There are two reasons for this:

Firstly, it's unwise to complicate things by having several 'wills' (even though only one is actually valid) lying around. An executor might get hold of a revoked will and (not knowing that a later will exists) seek probate under the terms of that will. If the later will then surfaced, things could get very tricky indeed.

Secondly, it's quite likely that HSBC are charging you for storage!

Chris

[Buenchico]

I must learn to type faster (or not to make a cup of tea half way through a post!).

[granny grump]

If they don't know you have a new will wont they still charge you for storing the old one? just a thought

[seadogg]

Thanks Chris and Granny. After all these years the charge on this "worthless piece of paper" might well amount to something. Hey ho!

[themas]

As they were executors I don't think they would have charged for storage (although, given the nature of banks these days, you can never be sure!).

Get them to send you the document, as already suggested. If they try to charge ask them for evidence of the contract or agreement with you under which the charge is valid. In other words, don't pay unless totally satisfied you are liable and have no alternative!

[boxtops]

I'm with granny here - surely they can still charge you for holding the document - unless you actually told them that you had a new one and to send you back the old one, they've been doing just what you asked them to do.