If you buy a will bank, do you need to write to all the testators to advise them of the change in location and ownership? This has arisen recently following the purchase of a will bank (not one of our clients but a general query). Both the seller and the buyer had been concerned that the buyer should write to the many thousands of testators in the will bank to advise them that the potential ownership and location of their wills has changed and to get their consent to the transfer of location. This has obviously raised issues as to whether or not it is possible or practical to purchase a will bank if you have to do this when a sale occurs. Any Ideas? We would welcome any thoughts on this issue as we have, in the past, heard conflicting advice from the regulators. The following information is not intended as advice, but rather simply anecdotal experiences we have had, and should not be relied upon to take a particular course of action. Anecdotal Information We we...
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