Thers is some evidence that there is a genetic component to prostate cancer, but it's not absolutely herdeditary
http://www.prostatecancerfoundation.org gives some information about that (based on US statistics).
The usual test for prostate cancer is a blood test for your PSA level (PSA = prostate specific antigen). It's not reliable as there are several causes of a raised PSA level, so if the number is too high (the normal level is around 4) and you have an enlarged prostate, you'd be sent for a biopsy which doesn't hurt but may be embarassing (they put a probe in your ass and take the biopsy that way as it's the easiest way to get at the prostate).
I did read something about a newer test which is more accurate than the PSA levels and just involves a blood sample, but I don't know how readily available it is, or even if it is out of the lab stage.
Also have a look at
http://www.prostate-cancer.org.uk/ which is a UK site relating to prostate cancer. It's not a big deal if it's spotted and treated early, and the treatments available may depend on your age. I opted for brachytherapy, but wasn't allowed to have that alone as I was a bit young (50 at the time) and they only had good results for around 10 years at that time (given a possible 25+ years remaining lifespan, the docs reckoned 10 years wasn't enough !).