The Government’s decision to change from the flat-rate probate fee to a tiered system based on the value of the estate has been scrapped following an announcement by the Ministry of Justice (MoJ).
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The impending increase in probate fees were thrown into doubt earlier this week after they were branded ‘unlawful’ by the parliamentary committee on statutory instruments.
Three animal charities have won a case at the Supreme Court against a women cut out of her mother’s £500,000 Will.
The government’s decision to increase probate fees from £215, or £155 if families are using a solicitor, to a tiered system based on the value of the estate is patently unfair for many families.
Katie Price has revealed that she hasn’t updated her Will in several years, explaining that her ex-husband Peter Andre and only three of her five children would inherit her estate if she died unexpectedly. However, she evidently does not realise that marriage automatically revokes a Will, which means that her previously written documents are likely to be invalid.
Kings Court Trust felt compelled to add to a recent Which? article and explain why some families might want to consider speaking to an estate administration specialist rather than undertaking the work themselves.
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. One of the main achievements was the in-house development of their app, Onsite, which has helped transform the business’s sales process.
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. 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.
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. The wealth of people in their 80s has increased by 45% over the past decade.