The changing landscape of estate administration and challenges facing the modern Executor

Insurance Institute of London - Consilium
Thursday, 06 February 2020
1:10 pm – 1:55 pm
    • Andrea Pierce, Legal Services Director, Kings Court Trust
  • Financial Services lecture

In this IIL Financial Services lecture Andrea Pierce will talk about the changing landscape of estate administration and challenges facing the modern Executor.

In today's era, the modern Executor is responsible for a plethora of tasks when administering a deceased person's estate. 'Probate' has become synonymous when dealing with these affairs but in reality, this is one small component of the broader estate administration process.

The growing popularity of digital currencies and other digital assets mean Executors are presented with the challenge to think more broadly about one's assets when administering an estate to ensure the beneficiaries receive all rightful inheritances.

For financial services professionals, these modern advancements post threats to wealth currently under their management. Where an Executor mid-distributes the estate, potentially due to the modern make up of the estate, funds may be required to compensate for the error. However, what estate administration presents to professionals working in the financial services industry is an opportunity not fully considered.

With an ageing population and rising levels of wealth, the UK is set to see substantial growth in the number of inheritances and financial gifts taking place each year. Estate administration is a great facilitator of intergenerational wealth transfer for professionals looking to retain funds under management and grow client bases.

By the end of this lecture members would have gained an insight into:

  • Understanding the difference between probate and estate administration
  • How estate administration is a great facilitator of intergenerational wealth transfer opportunity
  • How industry developments and technological advances are impacting this process for modern Executors and the risks these present

Chair:
Tom Current, Chair, Kings Court Trust

Venue
  • Insurance Institute of London - Consilium
  • 21 Lombard Street
  • London
  • EC3V 9AH
View map

Registration & Security

IIL lectures are open to CII and PFS members
CII and PFS members must register online by 2pm one working day before the lecture
For lectures held in The Old Library, Lloyd's pass holders may also attend and do not need to register
All attendees (at any venue) must produce photo ID - either a Lloyd's pass, driving licence with photo or valid passport

Conditions:

  • Email confirmations and photo ID must be produced to security staff at the lecture venue
  • Attendance confirmations are non-transferable to any other person or lecture
  • All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission

Please let us know what we can do to make our events fully accessible to you.

Contact:
Please contact Allison Potts (020 7397 3914) or Edward Walker (020 7397 3915) with any queries regarding the CPD events programme.

CII Accredited

This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.

3/4 hours' CPD can be claimed for this event if relevant to your learning and development needs.

It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.