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The Kings Court Trust Blog

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

Banks change limits on monetary releases following death

Following sustained and increasingly vocal lobbying from customers and consumer groups, a number of leading UK banks have increased the amount of money that can be released from deceased customer accounts to their grieving families without first having to apply for probate, This Is Money reports.
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272-year-old legacy could see teenage boys receive £20,000

The Courier has recently published an article about a unique 272-year-old legacy left by Charles Cairnie, a Perth shoemaker.
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Facebook Legacy Contacts Now Available

on Feb 19, 2015 9:00:00 AM By | Kings Court Trust | Facebook Industry News Legacy Life Planning
This may come as a bit of a surprise to some - in the latest news from Facebook they are allowing users to choose a legacy contact to take control of their account after they have passed away. According to a blog post from the social network, the site is "a place to share and connect with friends and family [and] remember and honour those we've lost"; with this in mind, the profile of a deceased loved one can become "a memorial of their life", updated and maintained by those who love them.
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UK Inheritance Figures Total £75bn from 2008-2010

The Office of National Statistics (ONS) has published an analysis of inheritance patterns in the UK.
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Margaret Thatcher's Legacy Details Remain Unknown

on May 8, 2013 9:00:00 AM By | Kings Court Trust | Estate Administration Blog Funeral Legacy
Britain said its last goodbye to Margaret Thatcher last month, when she was laid to rest with prayers and ceremony, but her financial legacy is still shrouded in mystery. The Iron Lady, a grocer's daughter who rose to become the country's first female prime minister, passed away peacefully while staying at the world-famous Ritz hotel, owned by her long-time supporters and media businessmen, the Barclay brothers.
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Legacies to Peak in 2047 and Halve Within 15 Years…

on Oct 3, 2011 9:00:00 AM By | Kings Court Trust | Beneficiaries Blog Legacy Wills
According to a recent HSBC survey ‘The Age of Inheritance’, the average legacy received today is £46,000, although half of all people who inherit actually receive under £10,000.
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Charitable Giving in a Tough Climate

on Aug 1, 2011 9:00:00 AM By | Kings Court Trust | Will Writing Blog Executors Legacy Probate Wills
It has long been the case that gifts in Wills provide a vital source of income for charities. It may surprise you to learn that many charities state that 80% of their voluntary donations come from legacy income.
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A Short History of Inheritance Tax

on Mar 3, 2011 9:00:00 AM By | Kings Court Trust | Blog Inheritance Tax Legacy Probate
Some people still sometimes refer to Inheritance Tax (IHT) as Death Duty. The tax has gone by a number of names over the years (not all of them complimentary…) and was, perhaps, most memorably characterised by Labour Chancellor Roy Jenkins as “…a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue.”
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