Trust banks to draw up your will and execute it too

Here is the beginning of my post. And here is the rest of it.More and more banks are keen on offering services such as will drafting, execution and trusteeship for management of property of the deceased. For customers, it perhaps makes more sense to entrust their wealth to a bank, which already has experience in handling financial matters. For banks, it is an opportunity to earn fee income and also cross sell other investment products. Some banks such as Canara Bank and Bank of Maharashtra have been offering the service for quite some years now and the latest entrant in this segment is Centurion Bank of Punjab (CBoP). CBoP offers this service through its joint venture, Centurion Executorship, Trusteeship, Real Estate Management and Advisory Services Pvt Limited (CERMA) and Bank of Maharashtra through its fully-owned subsidiary, Maharashtra Executor and Trustee Company (METCO). While CBoP caters to customers with a net worth of $1 million, Canara Bank and Bank of Maharashtra offer this service to everyone. Charges for drafting range from Rs 3,000-Rs 5,000. For execution and management of trusts, banks charge about 1-2 per cent of the value of the assets as fees.