Willwriter A was a sole trader who had been offering storage and free rewrites to his clients for over 20 years – he had over 4000 clients paying by standing order for varying amounts each year. Unfortunately his health started to deteriorate quickly and due to the fact he had offered free rewrites to his clients, no one wanted to take on his client bank as a Willwriter due to the huge responsibility. Furthermore, due to the payments being taken by standing order, they couldn’t be transferred to another receiving account and as the sole trader account would close upon the death of Willwriter A.
His family were a little disappointed to find that the value of his client bank had all but vanished and that they were faced with the liability of storing the client files and maintaining indemnity insurance in case there was a claim against Willwriter A’s estate for negligence.
If this situation sounds familiar or potentially could be, please get in contact as we would be able to assist you in ensuring that the best is done for your clients and your family.