Wills

[chrissgb]

Both my wife and myself made out a will which is lodged with a company (named as the executors) which charges us �17 a month to hold our Wills. I have since found out that it would be much cheaper for my Bank to hold our wills for us. Do we have to change the executors if we cancel our arrangement with this Company - if so would we then have to go to a solicitors.
Any advice would be helpful. Regards Chrissgb

[Ethel]

I don't know the terms and conditions of your contract with this company so it is hard to answer that part of your question.

However, if you wish to change any aspect of your will you do not need solicitors. You can simply copy your wills as they are now and change the names of the executors. You know the wording will be correct - it is only names you are changing.

You can do this yourself at home providing you get the new wills signed and dated properly and the signatures are witnessed by two people. You must also change the dates in the body of the will too.

You do not need to store your wills with anybody. Mine is in my safe at home.

[chrissgb]

Many thanks Ethel - I am going to read the terms as soon as I get in. Can I name anybody I like as executor and can I literally copy a new will onto plain paper or does it need to be on special paper.
Once again thanks for the advice. Much appreciated

[Ethel]

It does not need to be on special paper.

The important points are that is dated, signed and witnessed.

Anyone can be an executor. Often it is a beneficiary of your will.

There is some limited information here, but it does show I am not misleading you:

http://www.thewillsite.co.uk/legal_wills_uk.ph p

[gina32]

i made a will many years ago with a solicitor and ive never had to pay anything

[themas]

If these people are making you pay �17 per month they are ripping you off. I assume they are a will writing company and that they prepared the wills for you. As they are executors at the moment they could well continue their ripping off when getting probate after death, so you are quite right to replace them as executors.

If their business approach is so customer unfriendly I would be a little concerned as to whether their work in preparing the wills has resulted in them properly expressing your wishes. Read them again very carefully. Unless you are totally certain that you fully understand them and that they do express your wishes you should get advice from someone who has the necessary knowledge. This probably means seeing a solicitor, but many solicitors do not charge much for simple wills. However, do not be talked into letting a solicitor (or a bank) be an executor - far better for your beneficiaries or trusted friends or relatives to do this.

[chrissgb]

Thanks to all who have helped with my problem. This information has been very helpful. I shall be writing to the company who currently holds our wills to cancel this arrangement and will rewrite our wills with new executors.
Once again thank you
Chrissgb