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Va F

1 reviews | Active since May 2014

21 Jan 2022, 09:22

Standard Bank / Trust - Lack of Service & Interest RE Deceased Estate

My late father appointed Standard Trust Limited / Standard Bank as the executors of his estate. They were notified on 9 July 2021 of his passing and since then there have been delays with regards to everything. To date no Letters of Executorship have been issued – more than 6,5 months after the notification. A file number has not even been allocated. We have requested escalations numerous times, the first being made last year. These requests have largely been ignored and only 1 enquiry was sent to the Master’s office in January. There is a general lack of interest – the excuse being there are issues at the Master’s office. We don’t dispute the issues, but at least enquiries and escalations should be made. Numerous applications submitted after ours have been finalized. Clearly there is a problem and it's Standard's duty to investigate. They have not done this. We submitted a further complaint via Standard Bank’s website – and a week later the Deceased Department are yet to respond. Standard Bank’s website states: ‘draft your Will with the help of an estate planning expert to avoid disputes or delays in the administration of your estate’. My late father trusted them, but we have experienced nothing but delays and a lack in interest. This is not what he signed up for. Standard bank also advertises the drafting of these wills as ‘no charge’, but subject to them being appointed as the executors. The will does not mention the 3,5% of the value of the estate + VAT that they become entitled to. The fee is not what concerns us, it’s the fact that they can sit back and claim this fee, despite not delivering the service that was expected by my later father. This at the same time while the estate and beneficiaries incur unnecessary expenses, undue stress and hardships.

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