At Kings Court Trust, we believe that our customers deserve a dedicated personal estate adviser to answer queries and offer advice.
We all take care of things that we treasure; we keep our money in the bank and jewels or other valuables in a safe or strongbox - so if you think about it, it makes perfect sense to store your Will in a secure and safe location as well.
Recent research suggested that 96% of executors did not realise that they were legally and financially responsible for the accurate administration of a deceased person’s estate.
Estate administration (sometimes referred to as Probate or Confirmation in Scotland) is the process of dealing with a person’s legal and tax affairs after they’ve died.
It is estimated that around two thirds of the British public do not have a Will. If they die without making one, they are said to be dying ‘intestate’, meaning that the Crown will decide how their estate will be divided up.
Following a bereavement, there are a number of tasks that need to be considered and completed. This can make an already difficult time even more stressful.
Many Wills may have a Trust written into them but there is often confusion surrounding the reasons why it has been included and what it actually means.
Figures released recently by Citizen’s Advice showed a sharp increase in the number of queries regarding intestate estates, due to the deceased not leaving a Will.
When someone close to you dies, it can be difficult working out what to do and in what order. One task that you will need to consider fairly soon after the death is the process of dealing with all the assets and liabilities associated with the person – this is known as estate administration.
With an ever increasing amount of our lives documented online it’s perhaps unsurprising that many people are now asking ‘what happens to my online legacy when I die?’
It is estimated that two-thirds of people in the UK haven’t prepared a Will, so if you are yet to write one then you are not alone. However, what you may not realise is that without one you have no say in what happens to your estate when you die.
Whilst many of us understand the benefits of having a Will, you may be less familiar with a Lasting Power of Attorney (LPA) which appoints someone to help you make your own decisions or make decisions on your behalf.