In June 2015, one of the biggest banks in the UK, HSBC sold their Wills & Probate business to a company called Simplify Channel Ltd with the transfer date expected to take place on 30th October 2015. Simplify are a subsidiary of Chorus Law Group Ltd, previously associate with Independent Trust Corporation Ltd.
As HSBC were appointed Executors for many of their clients wills, they have issued correspondence to customers advising them to appoint Simplify or another executor of their choice. Alternatively customers were able to advise HSBC that their will was no longer valid.
Whilst professional executorship services for large and complex estates is invaluable, it is worth being aware that it’s not the only option for a number of people who may have very small and straightforward estates. A close family friend or relative may well be capable of overseeing the administration of an estate whilst having the details of a reputable firm on hand should unforeseen complications later arise.
Indeed, the move by HSBC, whether considered good, bad or otherwise, has provided clients with choices and more importantly the prompt to review their will when they may not have otherwise have done so.
Customers are not under any obligation to retain Simplify as their service provider and may consider looking to another well established will writing company to review their will. Whoever they choose to select, ensure that the company hold accreditations such as membership of the Society of Will Writers and approval of the Solicitors Regulatory authority.
Need further advice? Contact us and we’ll be happy to help.