The fee for applying for a Grant of Probate in England and Wales is set to rise in May 2024. Currently, it costs £273 per application as per The Non-Contentious Probate Fees Order 2004. The proposed new rate is £300. This will apply to all estates valued over £5,000; estates under this threshold do not have to pay a fee.

According to data from the Ministry of Justice, Will disputes are on the rise.

Throughout 2023, there were a number of legal industry updates and news stories that affected the Wills and probate sector. We’ve summarised some of the key changes and the ongoing discussions that could affect professionals and their clients in 2024.

As Inheritance Tax (IHT) interest rates continue to increase, Personal Representatives face additional financial burden when settling a deceased person’s estate. The increased interest rates have been described as a stealth tax, substituting a rise in IHT rates.

Intergenerational wealth transfers, either in the form of inheritance after death or via gift transfers, are continually increasing.

This year has provided a lot of challenges and changes, both in general and within the probate and estate administration industry. This blog will summarise some of the key industry stories and updates that have been in the news in 2022.

A Trust is a legal arrangement that can form part of a person’s Will and come into effect upon death, granting the named Trustees in a Will control of assets, such as funds and property, on behalf of the beneficiaries. Various types of Trusts can be written into a Will, depending on an individual’s circumstances. This blog will provide an overview of our experience of working with Trusts in Wills upon death, specifically exploring Property Trusts, Nil Rate Band Discretionary Trusts (NRBDT), and Trusts for Minors.

Kings Court Trust is celebrating its 20th anniversary since being founded in 2002. 20 years on, we are proud to be the UK's leading specialist estate administration provider and work in partnership with hundreds of Will Writers, Financial Advisers, Estate Planners, and Funeral Directors to provide our award-winning probate and estate administration services to their clients.

The number of inheritances and financial gifts taking place each year in the UK is increasing and predicted to continue to grow substantially. This is due in part to the ageing population and increasing wealth. HM Revenue & Customs collected £5 billion in Inheritance Tax (IHT) in January 2022, which is up by £700 million from the same period a year earlier. The rise in IHT receipts is likely due to increases in wealth, including higher property prices, as well as the rise in inflation.