Following a bereavement, there are a number of tasks to be considered and completed. These tasks are not always straightforward and can include dealing with difficult legal and tax affairs. We understand that this can make an already difficult time even more stressful. That’s why we’ve created this guide to help you understand your responsibilities and options, as well as what needs to be done.

As of Monday 14th October 2019, the proposal to increase probate fees has been withdrawn. Click here to read our latest blog post on the matter. Probate Registries in England and Wales are currently reporting severe delays on Grant of Probate and Grant of Letter of Administration applications. Due to the rollout of a new IT case management system, the process has been dramatically slowed down. This means that it’s taking longer for the Registries to process applications for Grants of Probate and Letters of Administration.

Cryptocurrency has only become a popular topic of conversation in the last few years so it may come as a surprise to learn that cryptocurrencies have been in existence for over a decade. As cryptocurrency celebrated its 10th birthday, the digital currency hit the headlines as a man died suddenly without sharing his computer password or recovery key.

Mrs J was widowed and lived in Birmingham. Mrs J left behind her two children (Jackie and Jim) and four grandchildren. At the time of her death, she was a renting tenant, had small cash assets and had accounts with various institutions. Kings Court Trust were instructed to complete the estate administration one month after Mrs J’s death. Her estate appeared to be straightforward, except for one thing. A few years before Mrs J passed, her brother died. Mrs J inherited her late brother’s property in the Republic of Ireland.

Musician, DJ and record producer, Avicii died on 20th April 2018 after reportedly taking his own life. The Swedish electronic dance artist whose real name was Tim Bergling was born in 1989. Despite being just 28 years of age at the time of his death, he left behind an incredible legacy through his musical career and charitable gifts, and a sizeable estate, reportedly worth £20 million.

Bitcoin. Ripple. Ethereum. Litecoin. Dogecoin. To some, these words look like gibberish but the reality is, they are all different types of cryptocurrency.

A recent article from the Telegraph revealed how a personal representative was left with a staggering Inheritance Tax (IHT) bill of £341,278 when he was administering a £1.2 million estate. Mr Harris misguidedly distributed the assets to the beneficiaries before all of the Inheritance Tax had been paid. He did this with the understanding that one beneficiary (who received the majority of the estate) would pay any Inheritance Tax that was still owed. However, this did not happen as the beneficiary left the country without paying, leaving Mr Harris to foot the bill.

Ordinary individuals inheriting assets from overseas could risk criminal charges if they miscalculate the tax owed, reports The Telegraph.

Kings Court Trust firmly believes in the benefits of having a professional help draft a Will to ensure that everybody’s final wishes are made clear and carried out accurately. Drafting a Will and carefully considering what is to happen to our finances is not the most cheery of topics, but one that should be taken very seriously.