Scottish solicitors are attending a seminar in Glasgow on online executry services this week.
The session at the Blythswood Hotel outlines the benefits for solicitors, executors and beneficiaries of a new digital platform, My Executor Box, launched last month in an effort to simplify financial asset management.
Scottish entrepreneur Alan Wardrop founded the service after the multi-million-pound sale of his financial services company. Glasgow-based Archibald Sharp is the first firm of solicitors on board.
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Mr Wardrop got the idea when he was reviewing financial services for a legal firm. “I saw people walking into the executor department with plastic bags full of bank books and life insurance.
"It was a shambles, and incredibly difficult for solicitors trying to process and protect those assets. To date the UK government has seized £1.6 billion from dormant bank accounts with the vast majority coming from the executory area."
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He added: "My Executor Box, which can be set up through affiliated solicitors or individually online, allows people to store their information by asset type, including bank accounts, investments and property.
"It also records mortgages and loans to provide a picture of the person’s net worth.
“I want to revolutionise the executory market and offer a safe, secure solution for all involved,” said Mr Wardrop.
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“For me, when you make a will the next thing you should do is you make an Executor Box."
The 30-minute presentation, on September 14, begins at 12 and will be followed by a buffet lunch and a chance to ask questions. Find out more here.
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