HSBC recently sold their Wills and Probate business to Simplify Channel Ltd, a company that is not regulated by the Solicitors Regulation Authority. The transfer was scheduled for the 30 October 2015. HSBC will cease in offering an executorship service and consequently Simplify have been distributing letters to those with HSBC Wills who have appointed HSBC as their executors to make necessary amendments.
In this correspondence, a deadline of the 31 July 2015 was given to respond in order to change the Wills. This is irrespective of the fact that an individual can change their Will at anytime they may please, if they have the mental capacity to do so. The options given to HSBC customers by Simplify were to either complete a Codicil appointing Simplify as an executor, complete a Codicil appointing a third party as an executor or to inform the bank that the Will has been replaced. The Codicils are all pre-drafted and therefore we would recommend that legal advice is sought before signing.
If you are interested in creating a new Will or amending an existing one (whether held with HSBC or otherwise), we are experts in knowing how to express your wishes in legal terms, which may have an entirely different meaning to their everyday use and can ensure that the strict rules applicable to signing and witnessing a Will are followed. In doing so, expensive delays in interpreting your Will on your death will be avoided along with the risk of the whole Will being invalid. We can also advise you on the role of an executor, helping you to make a decision which is right for both you and your family.
In addition to this, we can advise you on related matters such as inheritance tax, protecting assets from care home fees as well as Lasting Powers of Attorney. For more information please contact Rebekkah Cooper on 01733 888881 or Sarah Westwood on 01780 484530.
