Christine Houghton, Sales and Marketing Director at Kings Court Trust, provides a summary of the ABS licences issued throughout August and shares her thoughts on the situation so far…
In this age of rapidly changing technology and widespread use of the internet, many people gather large collections of digital music and e-books that they would, naturally, wish to leave to their loved ones once they are gone.
The first task following the death of a loved one is usually to register their death. This is because, in England and Wales, you have up to five days to register the death. It is the start of the process and needs to be done before you can begin making any funeral arrangements.
Latest data from the Office of National Statistics show mortality rates for 2011 at the lowest ever recorded. 9000 fewer deaths were registered in 2011 compared to 2010. Despite this decrease, probate lawyers and probate service firms are holding on to their market share.
The Council for Licensed Conveyancers (CLC) is an Approved Regulator for conveyancing and a Licensing Authority for probate and estate administration services.
Kings Court Trust has today become an Alternative Business Structure (ABS) licensed by the Council for Licensed Conveyancers (CLC), who will be regulating probate and estate administration activities.
The British Bankers' Association (BBA), who recently took part in the Legal Services Board (LSB) consultation on the possibility of Will writing and estate administration becoming reserved legal activities, said that it is hard to identify which of the regulators would take charge of banks.
People are naturally reluctant to think about dealing with the debt of a loved one after their death and it becomes even more difficult to handle such matters when the debt is unexpected and no provisions for its repayment have been made.
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