The ‘Changing family structures: The Will writing industry in 2018’ research paper provides new and insightful findings about the Will writing industry in the UK. It builds on the findings from our first Will writing industry report, ‘A changing landscape: The Will writing industry in 2017’. Both papers provide a general overview of the Will writing industry but this year’s report has a specific focus on changing family structures and the implications for Will writing services.

There is a key opportunity in the financial services industry as trillions of pounds are expected to be handed down from the rich to their children in the coming years. Independent financial advisers (IFAs) could more frequently be called upon for financial advice as heirs inherit large sums of money.

Our first blog post about the GDPR looked at what it is, how it impacts your business and shared some actionable steps for you to take. Now, our second article goes into more detail about data including what information the GDPR applies to, how data can be used for Marketing and three of the biggest changes which you need to act upon as soon as possible.

This is the second and final part of our ‘understanding probate and estate administration’ blog series. If you missed part one, you can read it here.

Kings Court Trust has administered close to 10,000 estates and distributed over £2 billion in inheritance. It’s a considerable amount, but there’s a family – your clients – behind every single estate. As we explain below, we work closely with our business partners to help their client's families, which in turn, helps them maintain and grow their business.

This is the first part of our ‘understanding probate and estate administration’ series. If you are looking for the second blog, you can read it here.

GDPR is certainly an important topic of conversation which shouldn’t be ignored. The new data regulations could result in tougher fines so now’s the time to get to grips with the GDPR. This blog post covers what it is, how it differs from the Data Protection Act, why you should pay attention and the first steps you can take towards being compliant.

Planning for the future means looking after your loved ones after you’ve gone and ensuring they get the full benefit of your legacy. The UK’s older generation has seen their wealth grow by 45%* in the last decade, resulting in more money being passed on as inheritance to the younger generation than ever before. However, this increased wealth means executors are left dealing with complex financial circumstances and legal paperwork. This could see a large chunk of your estate going on professional fees, leaving less money for your loved ones. But it doesn’t have to be this way explains Christopher Jones, Sales & Marketing Director of Kings Court Trust. “Kings Court Trust offers a modern, affordable alternative to the traditional approach, which translates into direct savings, often tens of thousands of pounds. We offer fixed fees and specialist help in supporting executors, every step of the way. Our fee is agreed at the start of the process and that doesn’t change, no matter what happens. We understand that dealing with a late relative or friend’s affairs is never easy, but the added stress of tax, spiralling fees and ensuring all the beneficiaries get what’s left to them can be a daunting task. At Kings Court Trust we focus on reaching a fast, satisfactory conclusion for everyone that ensures more money goes to the beneficiaries rather than being tied up in costly legal fees.” Rising property prices means property is expected to account for over 70%* of the wealth transferred in the coming years. However, this increase in wealth will also see more families liable for Inheritance Tax (IHT). Currently, families can be liable for IHT on estates worth more than £325,000 (or £650,000 between spouses. £325,000 plus the transferable allowance). The good news is, from April 2017 the government introduced the Transferable Main Residence Allowance (TMRA), allowing families to pass on more of their property wealth tax-free.

More than 12 months after the death of the iconic musician Prince, his sister and five half-siblings have been declared his legal heirs by a District Judge in Minnesota.