can i cancel a last will & testament held in a bank and make another one to be held some where else?

Question

the bank is the sole executor of my will. I want to transfer that role to one of my children as the charges seem exorbitant. What sort of charges would i incur.My wife is in the same predicament as my self

Answer 1

You can do whatever you wish, it's your will. I would mention, however, that the executor's role can be complex and very trying at a difficult time, and your child may not want to deal with it.

Personally, I'd arrange for either the bank or a firm of solicitors to be appointed, despite the charges, then you know no-one in the family has to worry about it.

Answer 2

You are always entitled to make a new will while you have life and breath and are of sound mind. You should withdraw your will from the bank for avoidance of doubt and possibly use it as the basis for your new will, appointing one (or more?) of your children as executor. You should then make sure that the old will is destroyed, otherwise there could be confusion if the new one were to go missing at any subsequent point. When you make a will it is expressed to be your "last will and testament" and the word "last" in fact means "latest". Any new will (provided that it is valid) will override all previous wills.
Perhaps the bank will make a charge for withdrawing your will, but it is nothing compared to the charges it would make as executor.
By the way, there is no objection to a beneficiary being an executor. I think perhaps a previous questioner was thinking of the hard and fast rule that a beneficiary may not be a witness to the testator's signature. Make sure that you bring two acquaintances into the room to watch you sign the will and ask them to sign below your signature to attest the fact that it is your signature. Look at the previous will for the correct wording. They should add their names in block letters below, together with their addresses and occupations.

Answer 3

The revocation of a last will & Testament can be carried out in a number of ways:-

(1) A Will may be revoked by a later Will or codicil.

(2) A Will may be revoked by destroying it or by the testator directing another to destroy it in his presence. The writing of the word "revoked" on the Will is insufficient to legally revoke the Will.

(3) A Will made in most States will be revoked by marriage unless it is made in contemplation of marriage.

(4)Generally, a Court Ordered separation or divorce may serve to invalidate dispositions in favor of one's spouse unless a contrary intention appears in the Will.

Don't worry if you never get the will back from the bank. The mere existance of the new one is sufficient to revoke the old one. You should ensure that your new executors are made aware of the location of the Will.

You should incur no charges for chaning executor unless there is a specific and separate agreement with the bank. You will need to check this.

Answer 4

You can make a new will at anytime, the will with the latest date will be the legally binding will, as long as it is signed and witnessed in all the right places.
Remember though, you cannot have your Will's executor as a beneficiary in the will

Answer 5

I;m a nice person are you sure you wouldnt rather leave it to me? j/k

There shouldnt be any penalty for withdrawing your will. I suppose it all depends on the agreement you made when building that relationship with the bank. Call your bank manager and get the answers you need. :) Good luck

Answer 6

you can cancel any will you have made and make a new one, the old will then be revoked as for the cost of doing this can vary depends on how complicated it is but if you went back to the one who who did the will it should not cost so much as this is only a alteration to it

Answer 7

like princess deb while o see or circulate into an abandoned farm haouse i ask your self with regard to the families who lived there.additionally while am out interior the rustic and notice an exceedingly advantageous scene i ask your self if absolutely everyone else has stood the place i'm and observed the comparable scene. with some ameliorations,of direction.

Answer 8

If you make a new will, any previous will be revoked so it doesn't matter where you place the current will, as long as people know where it is!

Answer 9

I think that all you have you have to do is state in your new will that it is your last will and testament and that will make any earlier wills void, but I suggest that you go to an attorney.

Answer 10

YOU HAVE WRITTEN A CODISIL BY ANY LAWYER--USUALLY 100$ --A CODISIL MODIFIES THE WILL---TAKE A COPY OF THE WILL WITH YOU---------IF YOUR WIFE COULD BE PRESENT THAT WOULD HELP....IF SHE LIVES IN ANOTHER TOWN HE WILL CO-ORDINATE WITH A LAWYER IN HER TOWN DONE AT THE SAME TIME......THE BANK HAS ABSOLUTELY NO CONTROL TO USURP YOUR RIGHT TO CODISIL...............