'Be wary' of banks' free wills and probate services

Brits have been advised to be wary of using the free will writing services offered by their banks, as they could work out to be more costly in the long run.

Writing for ThisIsMoney.co.uk, James Coney said that fee-paying accounts with added extras often don't give the great value they promise, and offered some top tips for those looking to "get the perks but pay less".

Commenting on the provision of wills and probate services, Mr Coney said: "Beware of free will writing offers because banks often nominate their own executor services, which tend to be expensive."

The Financial Services Authority, which has been looking into fee-paying accounts, has previously warned that they may not benefit all Brits, adding: "Consumers would be better off purchasing products individually, or not at all."

Legal expert Chris Partington recently advised readers of the Manchester Evening News of the importance of making a will, saying that it is likely to be the most important document they ever sign and doing so will mean their wishes are carried out correctly after their death.

Published by Phil Hammond