Banks That Write Wills

In the U.K., four major banks offer inexpensive will-drafting services. In about 40 percent of the wills, a solicitor or the bank is named as executor. That has led to complaints, the Daily Mail reports:

[B]anks can charge up to 4.5 per cent of the deceased's estate for these services, meaning the bill can quickly run into tens of thousands of pounds.

Banks often lure in vulnerable elderly people with the promise of a cheap will-writing service, then persuade them to sign up to the executor service without explaining how expensive it is.

After Britain's Office of Fair Trading stepped in, the banks have agreed that customers will be:

- TOLD that appointing a bank executor is not essential;

- SHOWN that alternative executor services are available;

- GIVEN a clear breakdown of fees.