Check your cheap will, bought for circa ~£100 from banks, before you die - onerous terms and conditions

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Found 18th JulEdited by:"splender"
The banks need to make year on year increased earnings, this is good for business and economic growth. Their financial growth needs money from you.

You may like to check your will, bought from banks, to see if the fees are excessive, and replace it as required. This is not new news, being going on for a long time...check the small text, the fee rate and the onerous terms...

What your bank may charge you, renewed news just now: thisismoney.co.uk/mon…tml

Fees start from £1,500 administration fee and a 2.5% of total estate (plus VAT).

Your bank making business good, an example from 2013, so not new news theguardian.com/mon…ing

In one example seen by Guardian Money, a high street bank charged the


estate £40,000 simply for distributing £1m held as cash in a deposit


account.
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Banks operate for profits, what scoundrels! - why don't they just give money away and go out of business, makes me so angry.

Good of you to quote the Daily Mail's money website, cheers.

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Edited by: "davewave" 18th Jul
The next misselling scandal?
Not just banks. We were warned of a firm in Kenilworth/Coventry who charge a flat 3%. Daylight robbery which the Law Society defends despite the fact there is no justification whatsoever in real life.
ccnp21 m ago

Not just banks. We were warned of a firm in Kenilworth/Coventry who …Not just banks. We were warned of a firm in Kenilworth/Coventry who charge a flat 3%. Daylight robbery which the Law Society defends despite the fact there is no justification whatsoever in real life.


Robbery, no...t and c.
Most people are incapable of doing probate themselves - don't see the issue if you've agreed to it, which they have when they've signed the will, they've signed to confirm they've read it, that they understand it and everything is correct, so what's the issue?

Do you honestly think a business/or professional person will act as an executor for free?

Solicitors give "free" will storage on this basis too that they have a better chance of securing probate at the end.

Most solicitors won't even tell you the fee they charge for probate but I don't think 1-3% is that shocking.

The better option is always naming a friend/family even if they're not capable of doing probate just so they have the choice of who they choose to do probate and can shop around.

Some probate charges are extortionate but in the same breath - people pay silly money for things all the time based on perceived image. The difference here is the family inheriting is seeing the extra £££ they could have.

As for miss-selling? Good luck proving a dead person was never informed about the professional executor.
Edited by: "Gynx" 18th Jul
davewave1 h, 23 m ago

Banks operate for profits, what scoundrels! - why don't they just give …Banks operate for profits, what scoundrels! - why don't they just give money away and go out of business, makes me so angry.Good of you to quote the Daily Mail's money website, cheers.[Image]



You know that in business, when one makes £100 out of £50 cost, one could alternatively makes £90, £95, £90...out of £50 cost etc., without having to consider the option of giving money away.

But if you personally choose to do business and then give money away so as to go out of business under pressure, then I can understand why that you are angry with yourself. This is because no one does business like you do.
splender2 m ago

You know that in business, when one makes £100 out of £50 cost, one could a …You know that in business, when one makes £100 out of £50 cost, one could alternatively makes £90, £95, £90...out of £50 cost etc., without having to consider the option of giving money away.But if you personally choose to do business and then give money away so as to go out of business under pressure, then I can understand why that you are angry with yourself. This is because no one does business like you do.


Splendid
Gynx29 m ago

Most people are incapable of doing probate themselves - don't see the …Most people are incapable of doing probate themselves - don't see the issue if you've agreed to it, which they have when they've signed the will, they've signed to confirm they've read it, that they understand it and everything is correct, so what's the issue? Do you honestly think a business/or professional person will act as an executor for free? Solicitors give "free" will storage on this basis too that they have a better chance of securing probate at the end. Most solicitors won't even tell you the fee they charge for probate but I don't think 1-3% is that shocking.The better option is always naming a friend/family even if they're not capable of doing probate just so they have the choice of who they choose to do probate and can shop around. As for miss-selling? Good luck proving a dead person was never informed about the professional executor.



Are you taking the mickey?! You said, "... don't see the issue if you've agreed to it, which they have when they've signed the will, they've signed to confirm they've read it, that they understand it and everything is correct, so what's the issue?"

The UK issue was and is, people had signed and agreed to all PPI policies alongside loans, credit cards, mortgages and other financial products and services which went wrong and the UK government and regulator did find in favour of the folks who had signed the contracts.

I merely suggest to people here to re-read what they had signed, with a view to find alternative options by researching on the net.
Edited by: "splender" 18th Jul
splender8 m ago

Are you taking the mickey?! You said, "... don't see the issue if you've …Are you taking the mickey?! You said, "... don't see the issue if you've agreed to it, which they have when they've signed the will, they've signed to confirm they've read it, that they understand it and everything is correct, so what's the issue?"The UK issue was and is, people had signed and agreed to all PPI policies alongside loans, credit cards, mortgages and other financial products and services which went wrong. That's why I suggest people to re-read what they had signed, with a view to find alternative options by researching on the net.


Huge difference.

Are you suggesting people weren't aware of what they were doing when they signed their will?
Gynx4 m ago

Huge difference. Are you suggesting people weren't aware of what they were …Huge difference. Are you suggesting people weren't aware of what they were doing when they signed their will?



I am not suggesting what you asked. You are spinning into the realms of self-awarenss of the signatory, looking for a debate about whose fault. I am not.

I am suggesting people review and re-read what they had signed.
splender31 m ago

I am not suggesting what you asked. You are spinning into the realms of …I am not suggesting what you asked. You are spinning into the realms of self-awarenss of the signatory, looking for a debate about whose fault. I am not.I am suggesting people review and re-read what they had signed.


Everything they ever signed?
davewave29 m ago

Everything they ever signed?



Your decision and implementation are yours to make.
splender18 m ago

Your decision and implementation are yours to make.


Splendid
Gynx9 h, 29 m ago

Do you honestly think a business/or professional person will act as an …Do you honestly think a business/or professional person will act as an executor for free?


Do you honestly think there are no numbers between an enormous number fee and free , £0/hr.?

Do you think there are no intermediate stages in business behaviour between gross excess and nothing ?
Your behaviour is to be argumentative for the sake of it using "for free" as a false premise.
splender2 h, 19 m ago

Do you honestly think there are no numbers between an enormous number fee …Do you honestly think there are no numbers between an enormous number fee and free , £0/hr.?Do you think there are no intermediate stages in business behaviour between gross excess and nothing ?Your behaviour is to be argumentative for the sake of it using "for free" as a false premise.


Hold on. Your in last comment to me after challenging the idea I was taking the mickey when I stated this was nothing like PPI you back tracked claimed you wasn't in it for discussion - purely informational.

Continue being informational.
Edited by: "Gynx" 19th Jul
Gynx7 m ago

Hold on. Your in last comment to me after challenging the idea I was …Hold on. Your in last comment to me after challenging the idea I was taking the mickey when I stated this was nothing like PPI you back tracked claimed you wasn't in it for discussion - purely informational. Continue being informational.

What are you on about now?
After you suggested you wasn’t interested in a discussion/debate and more interested with informing people – I didn’t respond to you.

Eleven hours later you decide to question something in my original comment and spew the inane comments of being augmentative.

I’m saying – continue being informational.
Its always worth trying to do probate yourself, solicitors are just as bad when it comes to probate. We’ve just been through a nightmare with a totally useless solicitor on my grandfathers will, the sole beneficiary insisted on going through a particular solicitor who ended up charging three times the initial quote, charging just shy of £3000 for probate and taking 10 months with on one bank account (£120,000 estate) There were two executors, my dad and his brother (beneficiary) me and my dad offered to sort the probate for him out but my uncle refused. Initially, the bank were going to handle the probate (Halifax) it would either cost £900 if you could pay up front or £1800 and they take it from the estate or whatever – the Solicitor who had the will said that was scandalous and he could do it cheaper, cheaper as it ended up costing twice as much.
splender18th Jul

You know that in business, when one makes £100 out of £50 cost, one could a …You know that in business, when one makes £100 out of £50 cost, one could alternatively makes £90, £95, £90...out of £50 cost etc., without having to consider the option of giving money away.But if you personally choose to do business and then give money away so as to go out of business under pressure, then I can understand why that you are angry with yourself. This is because no one does business like you do.


You could do the job you do for minimum wage, why haven't you taken a pay cut yet to save the end user money?
eset1234520 h, 46 m ago

You could do the job you do for minimum wage, why haven't you taken a pay …You could do the job you do for minimum wage, why haven't you taken a pay cut yet to save the end user money?


I have, below living wage.

However, you logic is appallingly bad and anti-personal. What has the maths of making £100 out of a certain cost got that rips off customers got to do with my personal income? Additionally, the news is about excessive charges bank make. They have nothing to do with my wages.

You exhibit a bad social behaviour, when someone has a point about social fairness, you have a go to debase the writer instead of upholding social fairness. There are charges that could be levied without attracting allegation of rip off.
Edited by: "splender" 22nd Jul
splender17 h, 20 m ago

I have, below living wage.However, you logic is appallingly bad and …I have, below living wage.However, you logic is appallingly bad and anti-personal. What has the maths of making £100 out of a certain cost got that rips off customers got to do with my personal income? Additionally, the news is about excessive charges bank make. They have nothing to do with my wages.You exhibit a bad social behaviour, when someone has a point about social fairness, you have a go to debase the writer instead of upholding social fairness. There are charges that could be levied without attracting allegation of rip off.


no, you expect businesses to take a profit cut whilst still keeping the same income yourself.

if your employer needed to cut costs to make things for the end user you wouldn't be willing to take a pay ciut also, you just expect the owners and shareholders to take a pay cut instead, you know, those people that actually have money on the line to keep you in your cushy employed job, whilst they take all the risk.

why arent you willing to share in the cost cutting to make things cheaper for the end user? is it because your view of social fairness is that only those above you that should be worse off
eset1234511 h, 12 m ago

no, you expect businesses to take a profit cut whilst still keeping the …no, you expect businesses to take a profit cut whilst still keeping the same income yourself.if your employer needed to cut costs to make things for the end user you wouldn't be willing to take a pay ciut also, you just expect the owners and shareholders to take a pay cut instead, you know, those people that actually have money on the line to keep you in your cushy employed job, whilst they take all the risk.why arent you willing to share in the cost cutting to make things cheaper for the end user? is it because your view of social fairness is that only those above you that should be worse off


No, you are a giant of fake news, I don't make a profit, additionally I don't rip off other people, as I earn a living wage.

You are full of logical fallacy.

About your expert point in cost cutting, rather than talking in general terms, could you show us figures of your cost calculation, for the actual examples cited by the links provided in my post, as what are the profits, costs and fees? We need to test whether you just made a lot of bullshit or you have a reasonable cause to be believed by using example numbers. To assist you with the cost rate, you may assume a fully loaded rate (with profits) of £200/hr (or cicra selling rate of £320,000/yr).

The second logical fallacy is the way you read my thread. In my thread, I expect some people may like to review their will. I didn't expect businesses to take a profit cut whilst still keeping the same income myself. You are a fake and a liar (alleging something which I didn't do.) I put up information to help people to review their wills or their parents' wills, you have a nasty disposition by attacking me personally.
Edited by: "splender" 23rd Jul
splender18th Jul

Are you taking the mickey?! You said, "... don't see the issue if you've …Are you taking the mickey?! You said, "... don't see the issue if you've agreed to it, which they have when they've signed the will, they've signed to confirm they've read it, that they understand it and everything is correct, so what's the issue?"The UK issue was and is, people had signed and agreed to all PPI policies alongside loans, credit cards, mortgages and other financial products and services which went wrong and the UK government and regulator did find in favour of the folks who had signed the contracts. I merely suggest to people here to re-read what they had signed, with a view to find alternative options by researching on the net.


He or she is right! Every CC application had the PPI as optional. People signed without reading.

Once halifax CC started charging me for it (back in 2008) I called them up and complained. Got the fees refunded and my card contract amended.
splender2 h, 9 m ago

No, you are a giant of fake news, I don't make a profit, additionally I …No, you are a giant of fake news, I don't make a profit, additionally I don't rip off other people a living wage.You are full of logical fallacy.About your expert point in cost cutting, rather than talking in general terms, could you show us figures of your cost calculation to the examples cited by the links provided in my post as what are the profits, costs and fees? We need to test whether you just made a lot of bullshit or you have a reasonable cause to be believed by using example numbers.The second logical fallacy is the way you read my thread. In my thread I expect some people may like to review their will. I didn't expect businesses to take a profit cut whilst still keeping the same income myself. You are a fake and a liar (alleging something which I didn't do.) I put up information to help people to review, you have a nasty disposition by attacking me personally.


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deeky34 m ago

[Image]



I know when someone bullshit real big time using maths. I have just modified my comment a bit plus an hour rate to help him to fall into the toilet of the bull. This is the hourly rate that I added: "To assist you with the cost rate, you may assume a fully loaded rate (with profits) of £200/hr (or cicra selling rate of £320,000/yr)."
Edited by: "splender" 23rd Jul
gcmarcal46 m ago

He or she is right! Every CC application had the PPI as optional. People …He or she is right! Every CC application had the PPI as optional. People signed without reading.Once halifax CC started charging me for it (back in 2008) I called them up and complained. Got the fees refunded and my card contract amended.



I don't know what you are saying by saying: "he or she is right"? Right about what? Why were there massive payout going for years then for PPI? Have you missed "the point" of the regulators?
Edited by: "splender" 23rd Jul
I meant that most people don't read T & Cs. The PPI for instance it was clearly visible on the application forms for any CC.
splender5 m ago

I know when someone bullshit real big time using maths. I have just …I know when someone bullshit real big time using maths. I have just modified my comment a bit plus an hour rate to help him to fall into the toilet of the bull. This is the hourly rate that I added: "To assist you with the cost rate, you may assume a fully loaded rate (with profits) of £200/hr (or cicra selling rate of £320,000/yr)."


You're becoming such an angry young man
deeky8 m ago

You're becoming such an angry young man



Else it could be quite mundane and quiet here. Also good to test the limits of my knowledge and others' knowledge in the open.
Edited by: "splender" 23rd Jul
gcmarcal1 h, 29 m ago

I meant that most people don't read T & Cs. The PPI for instance it was …I meant that most people don't read T & Cs. The PPI for instance it was clearly visible on the application forms for any CC.



You said that most people don't read T&Cs, which is true, the more so with T&Cs where you don't pay much money or none, such as tablet and smartphobe App T&Cs. However, can you show us an example of this form as a picture showing clear visibilty of whatever it was please? I just wanted to test if you are making a relationship between people not reading T&Cs and (all) the forms that show clear visibility, whatever this may be. Do you mean clear visibility of the T&Cs?


Besides, in the PPI scandal, I thought that the core issues were that it was: expensive, mis-sold, ineffective and inefficient. The regulators did not say the core issue was that the customer did not read the T&Cs. I am really at a lost as to why you stressed the clearness of visibility thing.
Edited by: "splender" 23rd Jul
Not done a will but looking at it and getting life insurance. Guess got to that age when I’m thinking about what could happen
gcmarcal13 h, 23 m ago

I meant that most people don't read T & Cs. The PPI for instance it was …I meant that most people don't read T & Cs. The PPI for instance it was clearly visible on the application forms for any CC.


The difference with PPI though is that it was routinely misold, people being told if they didn't take it the lender would refuse the mortgage for example, or sold to self employed people, when the PPI wouldn't pay out to self employed people.
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