A recent article published by Which? explains how ordinary families could save thousands of pounds in legal fees by carrying out the probate and estate administration process themselves. Undertaking the administration of an estate yourself is obviously one way for executors to save money, rather than using a solicitor or estate administration specialist. However, Kings Court Trust felt compelled to add to this article and explain why some families might want to consider speaking to an estate administration specialist before undertaking the work.

From launching new technology solutions to managing a record number of estates, 2016 was a successful year for a number of reasons at estate administration specialist Kings Court Trust.

Having supported thousands of families through the estate administration process, we know that one of the most popular features of our comprehensive estate administration service is the fact that it is offered with a guaranteed fixed price. However, there are many other providers who charge an hourly rate – so what’s the difference between the two options and will choosing one over the other make that much of a difference to the final bill payable by the family?

A recent report has shown that the younger generations will inherit much more money than their parents and grandparents did. Wealth amongst older generations has grown by 45% in the last decade, resulting in more money being passed on as an inheritance than ever before. However, those likely to benefit most are people who are already well off or have a high income.

Around a third of parents are unwilling to leave an inheritance or financial aid to their married children because they are concerned that divorce will result in the money leaving the family. The research revealed that 14% of those surveyed said that they had little or no confidence their children’s marriages would last ‘a lifetime’.

Research has revealed that the number of people expecting to bequeath large sums of money when they die has doubled over the past ten years.

2016 will long be remembered as a year which saw a number of historically significant events take place, many of which will have long lasting implications both at home and abroad. While we will have to wait and see the full consequences of Brexit and the US Presidential race, there may also have been changes to your life which could immediately impact on the validity of your Will and any other estate planning documents that you have already created.

Everyone at Kings Court Trust wishes you a Merry Christmas and a happy New Year.

Kings Court Trust, one of the UK’s leading estate administration providers, has relocated its office to Bristol this week.