On 23rd February the Office of Fair Trading said it has calculated that families could save a total of £40m per year by shopping around for cheaper professional executors to wind up the affairs of deceased relatives. High street Banks have now agreed to review their will-writing services as a result of being approached by the OFT. In particular they will not be pressurising customers to appoint the Banks as Executors.
Whilst Banks and some Solicitors have been charging up to 4% of the gross estate being administered Collective Legal Solutions provide a guarantee of maximum fees not to exceed 1.5 % of an estate valued up to £500000 with reducing fees for higher value estates. It pays to appoint the specialists that give real value for money service.