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Understanding Inheritance Tax and allowances

on 26-Aug-2021 11:45:50 By | Charlotte Toogood |
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

on 19-Aug-2021 11:08:10 By | Charlotte Toogood |
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?

on 08-Jul-2021 10:43:29 By | Nigel Merchant |
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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What to do when someone dies and how COVID-19 has changed processes

on 27-May-2021 10:32:13 By | Kings Court Trust |
When a loved one passes away, there are a number of tasks that need to be considered and it can often be a daunting process knowing where to start. The introduction of The Coronavirus Act 2020 that came into force throughout the United Kingdom in March last year (where most provisions will remain in force for two years with regular reviews by Parliament) has simplified the process of death certification for medical professionals. However, other tasks within the process have experienced delays and ongoing restrictions which have contributed to making a difficult time even more stressful. This blog aims to set out the different stages that need to be considered when a loved one passes away and will explore how COVID-19 has impacted processes.
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Complex intestacies: Why you should leave a Will

on 18-May-2021 11:18:08 By | Kings Court Trust |
At Kings Court Trust, we deal with a variety of different estates and we are sometimes faced with complex intestacies when someone dies without a Will. In this blog post, we share two particularly complicated case studies where family tree research has been required to identify the entitled heirs, all of which could have been avoided by leaving a Will.
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What will happen to Prince Philip’s multimillion pound estate?

on 15-Apr-2021 09:25:01 By | Kings Court Trust |
The United Kingdom went into national mourning last week as the news broke that His Royal Highness Prince Philip, Duke of Edinburgh, sadly passed away on Friday at the age of 99. He was the longest-serving royal consort in British history, having been married to Her Majesty The Queen for more than seven decades. The question that is now starting to surface within the industry is “what will happen to Prince Philip’s multimillion pound estate?”.
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How to leave your mark: 3 unusual ways to scatter cremation ashes

on 24-Mar-2021 13:11:53 By | Kings Court Trust |
By now, we should all be aware of the importance of creating a Will. However, you may also want to leave other wishes that would not be legally binding in a Will, such as funeral wishes or guidance on where you would like your ashes to be scattered. You can include requests like these within your Will but there is no legal obligation for your loved ones to follow your wishes. There is also a chance that the Will may be retrieved after funeral plans have already begun. Therefore, if you have any funeral wishes or special places for your ashes to be scattered, it is recommended that you directly inform your loved ones during your lifetime.
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Ensuring your affairs are in order: The importance of estate planning

on 18-Mar-2021 10:55:28 By | Kings Court Trust |
Death is not a subject that we like to consider or discuss, however, planning ahead is more important than ever to ensure your affairs are in order before your passing. Regardless of your age, wealth, health or status, planning for your future can guarantee your wishes are followed and ensure your loved ones get the full benefit of your legacy. Taking the necessary steps and precautions during your lifetime can also eliminate any unnecessary stress that your loved ones may face when administering your estate when the times comes.
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Will the Inheritance Tax rate rise to pay for the COVID-19 pandemic?

on 02-Mar-2021 10:51:41 By | Kings Court Trust |
Four in 10 people fear the UK Government will increase the current 40 per cent Inheritance Tax (IHT) rate to help cover the cost of the COVID-19 pandemic. The findings, from research by Tower Street Finance among 2,000 UK adults, revealed more than half (54 per cent) think the Government is set to hike the rate of IHT to 50 per cent, three in ten fear a rise to 60 per cent and one in seven predict it could rise to 70 per cent.
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