HSBC’s wills sale means expert advice is needed
The sale of HSBC’s wills and probate business to a centralised firm means local people here in London and the South East need to act as soon as possible to ensure their will is in order. The decision to pass all of its wills and probate to a business called Simplify Channel Ltd means there are many people in the UK with worries about how it has affected them.
Here at Pindoria Solicitors, we have advised many people who have had wills drafted by HSBC and in the majority of cases the wills appoint HSBC as the executors to act on the will when the person has passed away.
The clients of HSBC have had a letter offering them an option to sign a codicil to appoint Simplify or another executor of their own instead of HSBC, or to inform HSBC that the will is no longer valid.
Clients were sent letters in July giving a very short time frame to respond and simplify who will not be able to act as executors unless wills are changed. The transfer date of the business is expected to happen at the end of October.
We at Pindoria Solicitors being experts in wills and probate can help worried HSBC customers who need to obtain sound advice before making a decision. In many case we would advise clients to make a new will or codicil to amend the executors name in their will and choose a close family member, trusted friend or a reliable probate solicitor to help oversee the administration of the estate.
Understandably, many of our clients wish to keep such important affairs local where they know they can get easy answers to any queries rather than deal with the worry often associated with large centralised institutions.
We are happy to liaise with HSBC to obtain wills and make necessary changes. It is interesting that HSBC have provided no information on the financial arrangement that led to the sale to simplify, but the public should be aware that in most cases firms who act for banks charge far higher fees to take into account referral fees.
Anybody wishing to know more about this or any other queries about wills can contact us at Pindoria Solicitors.