Financially supporting industry professionals during uncertain times

Working together during the COVID-19 crisis

24 April 2020

 

Partner financial support scheme extended until the end of May

On 23 March 2020, we announced that we would offering additional support to our business partners at this challenging time.  We recognised the potential added risks and pressures businesses face during the COVID-19 pandemic, which is why we started to offer our financial support scheme to help you generate cash much sooner. 

 We're pleased to announce that we have now extended our partner support scheme until 31 May 2020. 

This means that, until the end of May, we will calculate the amount of fee share you will be due to receive on any new sales, and will make an advanced payment of the full amount within 14 days following the 14-day post-sale cooling off period. This means your payment will be received months earlier than usual.

We want to support not only our business partners but the industry as a whole. Therefore, this offer is open to new and existing partners.

How it works

With any sales, we would usually pay you your fee share once the Grant of Probate has been received and the estate is in sufficient funds (for full estate administration cases) to discharge the invoices, which depending on the type of service, is on average between 2-5 months after the sale is made.

Until 31 May 2020, we will make an advanced payment in lieu of fee share payments from any sales within 14 days, once the cancellation period has passed, meaning your payment will be received months earlier than usual. Therefore, for sales that take place between now and 31 May 2020, we invite you to submit your invoice after the sale is made, and we will arrange payment for this within 14 days of the end of the 14-day cooling off period. 

Need more information?

We are here to answer any questions you may have about this. Please don't hesitate to contact us at 0333 207 5470 or partners@kctrust.co.uk.

 

Terms and conditions

1. This special offer is open to all existing and new referring partners of Kings Court Trust and is applicable to any sales contracts signed between 23 March 2020 and 31 May 2020. We will review the end date to consider if this needs extending later in May and notify you in writing.

2. A newly qualified sale is determined as a case where:

  • The referrer is working on behalf of the Executor, either directly or indirectly
  • There is no existing instruction in place regarding the estate
  • Probate is required but no Grant has been applied for
  • The administration of the estate is not already underway

3. All advanced payments will be paid collectively on a monthly basis within 14 days from the end of the 14-day cancellation period, as long as the case has not been cancelled at the time of paying the fee share.

4. Whilst very rare, some customers may seek to cancel a service after the initial 14-day “cooling off” period. Should this be the case, or we need to reduce the fee payable for any reason, we will offset the pre-paid sum against any future amounts payable by KCT to your business.

5. All time frames and payment methods are subject to KCT being able to trade and access corporate banking systems as normal. We appreciate your understanding in the event we experience disruptions to service (either internally or externally).

 

 


 

1 April 2020

 

Be aware of fraudsters

It has come to our attention that in some cases, fraudsters are exploiting the current national situation by attempting to impersonate businesses and claim that bank details for payments have changed.  Please rest assured that our bank account details have not changed this year, and if you receive any notification similar to this, please contact us.  Our bank details will be as per our letters and invoices sent to you.

 

 


 

24 March 2020

 

Business continues as usual

For the most part, business continues as usual with most employees working remotely from home. This means that our phone lines remain open and emails are being monitored. Please do not hesitate to get in touch with us. 

 

Important update regarding document storage

In light of the latest government advice, our document storage service has been temporarily suspended, effective immediately. Our third-party provider has now suspended daily deliveries/collections so this, unfortunately, means that you’ll temporarily be unable to:

  • Place new or updated documents into storage
  • Retrieve documents from our storage facility (except if absolutely necessary for estate administration)

If you need to retrieve a Will for funeral information, we would advise that you please consult your file copy of the Will in the first instance. Please only request for the Will to be retrieved when it is needed for estate administration. We are currently finalising a process to fulfil these requests and will provide an update once it is in place.

For all urgent enquiries, please contact our Business Support team on +44(0) 117 403 9541.

We apologise for any inconvenience this may cause and hope that you understand that these are exceptional circumstances. We will strive to resume normal service as soon as it is safe to do so and will ensure we keep you up-to-date with any developments.

 

For the most part, Kings Court Trust continues to operate business as usual and has launched a scheme to financially support partners during these challenges - please see below for more information. 

 


23 March 2020

 

Financial support for existing and new referring partners of Kings Court Trust

Kings Court Trust is aware of the challenges facing businesses and professionals within the industry. The circumstances we all face are exceptional to say the least, which is why we want to go above and beyond to offer support to you during these uncertain times. In addition to the health risks we face due to COVID-19, we are very aware of the potential added risks and pressures on your business, which is why we are offering some financial assistance.

The challenge

We recognise the potential impact these worldly events could have on your careers and/or your business and the importance of cash flow. We also recognise this is one area where we can, and will do something to support you. As a result, we want to help you generate cash much sooner to help you get through this period of uncertainty. 

The solution

In consideration that you may experience cash challenges in the coming weeks/months, starting today, 23 March 2020, Kings Court Trust will calculate the amount of fee share you will be due to receive on any new sales, and make an advance payment of the full amount within 14 days following the 14-day post-sale cooling off period. This will initially be in effect until 30 April 2020, at which time we will review and extend if deemed necessary, including consideration of the COVID-19 impact for you at that time.

We want to support not only our business partners but the industry as a whole. Therefore, this offer is open to new and existing partners.

How it works

With any sales, we would usually pay you your fee share once the Grant of Probate has been received and the estate is in sufficient funds (for full estate administration cases) to discharge the invoices, which depending on the type of service, is on average between 2-5 months after the sale is made.

Until 30 April 2020, we will make an advanced payment in lieu of fee share payments from any sales within 14 days, once the cancellation period has passed, meaning your payment will be received months earlier than usual. Therefore, for sales that take place between now and 30 April 2020, we invite you to submit your invoice after the sale is made, and we will arrange payment for this within 14 days of the end of the 14-day cooling off period. 

Need more information?

We are here to answer any questions you may have about this. Please don't hesitate to contact us at 0333 207 5470 or partners@kctrust.co.uk.

 

Terms and conditions

1. This special offer is open to all existing and new referring partners of Kings Court Trust and is applicable to any sales contracts signed between 23 March 2020 and 30 April 2020. We will review the end date to consider if this needs extending later in April and notify you in writing.

2. A newly qualified sale is determined as a case where:

  • The referrer is working on behalf of the Executor, either directly or indirectly
  • There is no existing instruction in place regarding the estate
  • Probate is required but no Grant has been applied for
  • The administration of the estate is not already underway

3. All advanced payments will be paid collectively on a monthly basis within 14 days from the end of the 14-day cancellation period, as long as the case has not been cancelled at the time of paying the fee share.

4. Whilst very rare, some customers may seek to cancel a service after the initial 14-day “cooling off” period. Should this be the case, or we need to reduce the fee payable for any reason, we will offset the pre-paid sum against any future amounts payable by KCT to your business.

5. All time frames and payment methods are subject to KCT being able to trade and access corporate banking systems as normal. We appreciate your understanding in the event we experience disruptions to service (either internally or externally).



18 March 2020

 

A message from Kings Court Trust's CEO, Simon Hancox

Dear Business Partner,

In light of the developments in relation to COVID-19 (Coronavirus), I'm writing to provide you with an update on how Kings Court Trust is reacting to these exceptional circumstances.

Delivering our estate administration service

We want to reassure you that our Business Continuity Plan (BCP), which allows the business to continue as usual, has been partially implemented. Our BCP enables people to work from home full time. We have made attending the office voluntary to all staff with the option to work from home if they prefer. Some members of staff have chosen to work from home but many still remain in the office. We are pleased to report that we currently have no confirmed cases of the virus among our staff. At present, we can confidently say that our service remains unaffected.

Our ability to maintain service is, in many circumstances, impacted by relationships with third party providers and as such we will naturally be dependent on these plus how the virus progresses over the coming weeks and any changes in government policy relating to this.

In the case that there is a confirmed case of the virus in our building, either for our own employees or employees of other tenants, we will be required to evacuate the building for two weeks. If this happens then the vast majority of staff will work from home and we will advise on what you should do when looking to send documents to us. We plan to keep our website up-to-date with any developments in the eventuality that the office closes. 

Working with our valued business partners

Our team are focused on continuing to work with your business and will be using technology to keep in touch, where in-person meetings are unable to proceed. 

We have made the difficult and unfortunate decision to postpone our May Partner Seminars. We will provide more information in due course about rescheduled dates and will issue formal cancellation notices for those already registered. 

We are currently unable to facilitate any physical literature requests. Please do not hesitate to get in touch by emailing marketing@kctrust.co.uk as we can provide digital versions of all of our resources. 

I know that this is a worrying time for us all and I can promise you that everyone at Kings Court Trust is focused on continuing to provide support to the families, your clients, who entrust us to take care of their estate administration. 

Kind regards,

Simon Hancox

Chief Executive Officer

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