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.

[Tilly2]

Thanks, Minty. Does it mean writing out a new Will, or going to the bank, with Dad, to get it changed?

[woofgang]

Well if the bank sort it out, they may well charge for the privilege but you may think its worthwhile. maybe Age Concern can help you with this one?

[ubasses]

Your Dad can change it if he still has Mental Capacity. If not, when the time comes, you can ask them to withdraw as Executor in your favour by completing a Deed of Renunciation.
They can refuse on the grounds that they were your Dad's wishes.

[murraymints]

a new will nominating new executor I think, but you might get away with just a codicil...speak to your solicitor

[ubasses]

Minty is correct, if Mental Capacity is there the change only needs to be a Codicil.

[murraymints]

it is a costly procedure dealing with a renunciation as you then have to apply through the court to obtain executory...best to consult solicitor now and get it change at a comparatively low cost

[Tilly2]

I don't have a solicitor, Minty.

I'll ask at the bank.

[Tilly2]

Thanks, Woof and Ubasses. It's seeming to be a bit of a nightmare. I, as you can see, have very little experience in these matters.

Thank goodness for all you helpful people.

[murraymints]

the bank cannot change the details of the will Tilly....only your dad through a solicitor...an easy quick procedure...you will need the bank to send you the original will....

[tamborine]

Easiest to draw up a new Will which invalidates previous Wills. Libraries have books of how to draw up Wills. All you need is dad signing with 2 independant witnesses, all present together.

[woofgang]

PS I don’t think you are being callous at all. It can be a great comfort to know that when the time does come, you will be able to sort things.

[Tilly2]

Thanks, again. I'll get this sorted out this week.

[murraymints]

you can do DIY wills yes..but get someone like CAB to check things for validity and get the original back from the bank...

[Tilly2]

Will the bank charge for having looked after it for so long?

[murraymints]

not usually.no..

[murraymints]

dad probably paid a one off storage fee when he made the will..

[ubasses]

Banks usually store Wills for free when they have been appointed Executor.

[tamborine]

Or, type out new Will as previous one, inserting your name as executor instead of bank. Change date of Will & dad + 2 independant witnesses sign.

[murraymints]

if doing above ..add paragraph of revocation of any prior wills..

[Tilly2]

He won't remember whether he did or not, Minty.

I'm glad I asked about this. It's better to get it sorted now, than later.


Many thanks to you all. xx