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| *The Commerce Journal>>>Insurance |
What banks or companies can or will serve as a personal reperesentative in a will? |
When drafting a will, you can name a first choice and alternates for a "personal representative" - someone to carry out your wishes for you after you're gone. Best friend, family member? Sure. But what if they die first? Lawyers recommend listing at least one bank, because even if they go under, someone succeeds their legal responsibilities. But I can't find anything obvious from a bank or company that details this service and associated fees. When drafting a will, you can name a first choice and alternates for a "personal representative" - someone to carry out your wishes for you after you're gone. Best friend, family member? Sure. But what if they die first? Lawyers recommend listing at least one bank, because even if they go under, someone succeeds their legal responsibilities. But I can't find anything obvious from a bank or company that details this service and associated fees. Call the bank where you've got the largest accounts, and ask them. MOST will do it, but they ALL charge a fee. Call your local bank and talk with someone in the trust department. Dealing with this kind of stuff is their primary job. |
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