Step Provisions Help

Trusts Discussion
1

Hi

I was wondering whether you would mind letting me know whether you still include a professional charging clause in a Will if including Step Provisions?

I have been discussing the topic with a couple of piers and they always include it if their firm is appointed but we normally rely on Step Provisions and just wondering what the majority do.

Thanks

2

Hi Kelly

We rely on the STEP provisions and point out the charging clause in our covering letter.

Thanks
Andrew

3

Thanks for taking the time to respond. This is what we do too but was beginning to doubt myself

4

As an aside: you would need to ensure that the testator makes a fully informed decision to appoint professional executors see SRA guidance

Predicting what the professional executor/trustees fees will be can be a challenge - the Public Trustee (Fees) Order 2008 gives some helpful insight into what it actually costs to administer and estate (or trust):

5

Sorry the SRA link should be:

https://www.sra.org.uk/solicitors/guidance/drafting-preparation-wills/