Banks agree to improve will writing services

The OFT approached the four banks as part of a strategy to improve will writing for customers, following concerns consumers are appointing professional executors without understanding their alternative options or the likely costs. They have now agreed to ensure consumers know they do not have to appoint a professional executor when making a will, and consumers will not be encouraged to do so unless it is in their best interests. The banks also agreed to ensure consumers have enough information to make an informed choice before a will is drafted, particularly on charging. All of the...