Yorkshire bank will writing service
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Yorkshire Bank Trustee & Executry Service
Following a strategic review, we made the decision to discontinue our wills and executorship services with effect from 31st August 2017.
We understand that dealing with bereavement can be a difficult time. Where the Bank is named in a customer’s will as executor of their estate, it will no longer act as executor in the case of any customer who passes away after 31st August 2017. We recommend that customers who have appointed the Bank as executor consider updating their will to replace the Bank with one or more alternative executors. It is particularly important to do this if the Bank is currently appointed as sole executor. We appreciate if the Bank is named as executor, customers will want to give this matter careful thought. We would, however, advise customers who may have appointed the Bank as executor to review their wills now and if the Bank is currently appointed, make arrangements to update their will as soon as possible.
In thinking about who to appoint in place of the Bank, you should consider the value and complexity of your estate in order to assess whether the services of an alternative professional executor are needed, or whether you would be content for family members, friends or others you know and trust to be appointed in the Bank’s place.
If you have already made a new will or once you have put a new will in place, please advise us in order that we can update our records and if applicable arrange for the return of your existing will to you.
The following questions and answers may assist you in deciding what action, if any, you need to take or consider taking.
Is my will, appointing the Bank as executor, still valid?
Yes, provided it has not been replaced with a later will. There may be some family circumstances that could affect the will, for example if your matrimonial/civil partnership status has changed since you made the will. If this is the case you should seek specialist advice.
What does an executor do?
An executor is responsible for ensuring that your estate, after your death, is dealt with in accordance with the terms of your will. It is advisable to have more than one executor. Executors can (and frequently do) appoint professional agents (such as solicitors) to deal with estate administration on their behalf.
Who can act as my executor(s)?
Any person of your choosing who is of sound mind, aged 16 or over in Scotland or 18 or over in England.
For straightforward estates, your family, friends or others you know and trust may be able to deal with matters themselves, seeking advice and guidance from professional agents as necessary.
In what circumstances might I appoint a professional executor?
A professional executor, who will charge a fee for administering the estate, should be considered if:
- There is no obvious candidate among your family, friends or others you know and trust to act as executor;
- Your estate is complex and/or of high value;
- You feel that due to family circumstances, an independent and impartial executor is appropriate; and/or
- You want to relieve your family/friends of the responsibility of administering your estate at a difficult time.
If I decide to amend my will, how can this be done?
If the only amendment to your will is to replace the Bank as executor, this can be achieved by way of a legal document called a Codicil if you wish to avoid replacing your entire will. If you think you might need professional services to help with this, any local solicitor can arrange for this to be done, for a fee. If, however, you wish to amend other terms of your will at the same time as replacing the Bank as executor, you may need a new will. Again, any local solicitor can provide guidance on this.
The fee payable for any such professional services is determined by the complexity of the estate and changes needed. This can be confirmed by the local solicitor you choose.
What will happen if I do not replace the Bank as executor?
If you pass away after 31 August 2017 the Bank will not accept the appointment as executor.
The paperwork to formally remove the Bank as executor will be required, which the Bank will arrange through its team of legal advisers
If I need further information, where can I obtain this?
Telephone us on 0800 085 7233 (between the hours of 9.00 am to 5.00 pm Monday to Friday) or contact your local Customer Banking Centre.