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The Kings Court Trust Blog

Keeping you up-to-date with Wills, probate and estate administration industry news

Life insurance: is it subject to probate?

on 08-Feb-2022 16:20:00 By | Kings Court Trust | Estate Administration Probate
When a loved one dies and they have a life insurance or assurance policy, that policy may pay out a very significant sum. It’s only natural to question whether the payout forms part of their estate, which may be subject to probate, Inheritance Tax and other taxes, and also liable for any debts they may leave behind.
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What is the difference between probate and estate administration?

When someone close to you dies, it is easy to get overwhelmed when considering the upcoming tasks and the unfamiliar language associated with them. Firstly, it is important to understand the basics; this blog post aims to answer some of the most common questions associated with handling an individual’s estate after they have died, including:
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8 life events that should trigger a Will update

Life isn’t predictable nor does it happen in any specific order. Some people may get married at 21 or others at 60. Some may get divorced while others may have an opportunity to move to a new continent every few years.  Whatever path we are led down in life, there is one thing that applies to us all – we will experience events that trigger the need to create and update a Will.
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How much Inheritance Tax is payable to HMRC on a deceased person's estate?

on 12-Jan-2022 10:36:00 By | Kings Court Trust | Inheritance Tax
This blog post explores how Inheritance Tax works and which other taxes HMRC applies to a deceased person's estate.
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5 steps to creating a simple digital estate plan

When someone starts planning for the management of their estate, it often includes things like who will inherit property, who may care for a dependent child or what should happen with various personal belongings. One thing that often gets overlooked is what happens to their digital assets.
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Why are inheritance disputes on the rise?

Due to more dynamic family structures and individuals increasingly owning more assets than ever before, it may not come as a surprise that inheritance disputes have been on the rise since 2015. Last year the Financial Times reported that contested Wills in the High Court had reached an all-time high in 2019, with an increase of 47 per cent on 2018. This blog looks at some common causes for inheritance disputes, what can be done to resolve them, and how to avoid them altogether.
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Understanding Inheritance Tax & allowances

on 26-Aug-2021 11:45:50 By | Kings Court Trust | Gifts IHT Inheritance Tax
Inheritance Tax (IHT) can be a difficult concept to comprehend, especially for those who have never had to attempt the complex process of dealing with a loved one’s taxable estate before. To put it simply, IHT is a tax that is paid upon an estate of someone who has died.
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Celebrity deaths: Lessons for effective estate planning

Death remains to be a topic that many of us avoid thinking about and do not wish to discuss with our loved ones, which can sometimes lead to absent or ineffective estate planning. According to the ‘UK Wills & Probate Market 2020: Consumer Research Report’, less than 4 in 10 adults in the UK have made a Will, despite predictions that the COVID-19 pandemic would encourage more people to plan for the future.
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What can go wrong with the DIY probate approach?

The tasks that need to be considered following the death of a loved one are not something you will face on a regular basis. Therefore, knowing where to start can often be daunting and it can be a difficult process to get the ball rolling. Whilst many people opt to instruct an estate administration specialist to help, others choose the DIY (do it yourself) route in the hope of saving more money to maximise the amount of inheritance due to the beneficiaries of the estate.
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