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The Kings Court Trust Blog

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

Prince’s heirs petition mismanaged money as legal fees escalate, leaving little to pass on

on Apr 4, 2018 12:14:58 PM By | Kings Court Trust |
The legal battle over Prince’s estate continues almost two years after the death of the iconic musician. Now, three of his heirs have filed a petition to review the billing practices of the law firm that works for Comerica Bank and Trust, Fredrikson & Byron. They were appointed to handle the administration of Prince’s estate in 2017 and are said to be draining the late musician's bank account, leaving little to the beneficiaries.
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Bereavement damages only for married couples could be a thing of the past

on Feb 9, 2018 4:04:34 PM By | Kings Court Trust |
In a recent court case, only awarding damages to a married partner was ruled to be in breach of the European Convention on Human Rights.
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Disputes over inheritance – ‘Modern life’ to blame?

on Feb 2, 2018 9:07:43 AM By | Kings Court Trust |
A record number of inheritance disputes are reaching the High Court despite rising court costs and the risk involved with losing a case. The number of cases brought to the High Court under the Inheritance Act in 2005 was 15, compared to 116 cases in 2015. But this is only the tip of the iceberg when we consider the number of cases that would have been settled out of court or in County Court.
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Does the legal sector need to be more transparent about pricing?

on Jan 30, 2018 10:39:55 AM By | Kings Court Trust |
Last week, the Solicitors Regulation Authority (SRA) published two pieces of research supporting the movement to encourage lawyers to be more transparent with regards to their pricing. One research paper is named ‘Price transparency in the legal services market’ which was conducted from a firm perspective with 1,146 legal firms surveyed. The other is ‘Price transparency in the conveyancing market’ from a consumer perspective with 4,001 members of the public and 1,001 recent house buyers.
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New year, new Will?

on Jan 11, 2018 9:24:00 AM By | Kings Court Trust |
As you reflect back on 2017, it is a good opportunity to evaluate if there have been changes to your life which could immediately impact on the validity of your Will and any other estate planning documents that you have already created.
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What ever happened to the government’s new ‘death tax’?

on Dec 11, 2017 3:36:07 PM By | Kings Court Trust |
In February 2017, the government announced plans to introduce a tiered fee for obtaining the grant of probate upon death based on the value of the estate. The existing fee is either £155 (for applications by a professional body) or £215 (if applied for by an individual) regardless of the value of the deceased’s estate.
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In the news: Estate decimated by legal fees

on Nov 7, 2017 10:07:44 AM By | Kings Court Trust |
The Times, dated 4th November 2017, reported that a couple were faced with an exorbitant legal bill of £115,000 which was “removed” from a modest £300,000 estate. The deceased, the father of Paul Cutler, 47, had appointed a solicitor as the executor of his estate in his Will. Mr Cutler was alarmed to discover that the costs for administering his late father’s estate were spiralling out of control. When Mr Cutler complained, he was informed that only the ‘client’ of the solicitors i.e. the executor, in this case, the solicitor themselves, could complain, despite the obvious conflict of interest.
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Sir Bruce Forsyth - playing the Generation Game

on Sep 20, 2017 9:12:16 AM By | Kings Court Trust | Blog Inheritance Tax
Sir Bruce’s public and private legacies - an example to us all? As Strictly returns with a moving tribute to its most famous host, Sir Bruce Forsyth, we were able to look back at the career of a true gentleman and showbiz legend. Although he had not presented the show for last couple of series, his sad passing at 89, leaves a truly remarkable legacy behind, which will be remembered by the public for years to come.
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Leave more for your loved ones. Plan ahead and make future savings.

on Sep 6, 2017 9:51:13 AM By | Kings Court Trust |
Planning for the future means looking after your loved ones after you’ve gone and ensuring they get the full benefit of your legacy. The UK’s older generation has seen their wealth grow by 45%* in the last decade, resulting in more money being passed on as inheritance to the younger generation than ever before. However, this increased wealth means executors are left dealing with complex financial circumstances and legal paperwork. This could see a large chunk of your estate going on professional fees, leaving less money for your loved ones. But it doesn’t have to be this way explains Tom Curran, Chief Executive Officer of Kings Court Trust.
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