Wills, Probate and Advising the Elderly Spring Update 2024

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KEY SUBJECTS

• AVOIDING WILL DRAFTING PROBLEMS
• TRS UPDATE: CHANGES IN THE TRUST REGISTER AND HMRC PRACTICE
• OLDER CLIENT UPDATE
• DRAFTING WILLS FOR BUSINESS CLIENTS
• RNRB & MITIGATING IHT: THE PROVISIONS NEEDED IN WILLS AND TRUSTS
• MAKING GIFTS AND DELIBERATE DEPRIVATION

SPEAKERS

Professor Lesley King, Professional Development Consultant, University of Law

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer

Caroline Bielanska, Solicitor, TEP, Independent Consultant, Mediator, Author and Trainer

PROGRAMME

9.30am CHAIRMAN’S INTRODUCTION

AVOIDING WILL DRAFTING PROBLEMS

Problems often arise as a result of failure to take initial precautions and failures of communication. This session will use recent cases to illustrate common problems including:

• Pead v Prostate Cancer UK
• Partington v Rossiter
• Naylor v Barlow

It will also consider how to minimise the risk of 1975 Act claims in the light of the recent decision of Sim v Pimlott.

Professor Lesley King, Professional Development Consultant, University of Law

TRS UPDATE: CHANGES IN THE TRUST REGISTER AND HMRC PRACTICE

This session will be of value to all practitioners who need to implement TRS in relation to estates, trusts and co-ownerships of property; not just those responsible for compliance in this complex and changing area.

The talk will take stock of some significant changes in the TRS Manual (TRSM) and HMRC practice, and consider what it means for practitioners; including:

• Changes re when penalties apply: a change of focus in the new HMRC practice
• Discrepancy reporting: taking stock of the ongoing obligation as part of our due diligence, and the latest HMRC guidance
• Changes in the TRS Manual Guidance: what are the recent changes and what do they mean? Some changes are due in early 2024 which we will consider
• TRS Review Consultation due out in Jan 2024 and the Transparency of Land Ownership involving trusts consultation published on 27 Dec 2023: considering what this shows of HMRC practice and how the two link together
• Beneficiaries who need to be named on the TRS: reflecting on the change in the TRSM in Sept 2023, and other guidance, and what this means for naming beneficiaries in deeds and letters of wishes
• Deeds of Variation: changes in HMRC practice mean many DoVs need registering on TRS – we will consider when, and if there is any way to work around

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer

OLDER CLIENT UPDATE

This talk will bring delegates up-to-date on issues affecting older clients including:

• Update on Court of Protection process changes
• Progress of Digital LPAs implementation
• Case law update which impacts older clients
• Health & Social welfare update

Caroline Bielanska, Solicitor, TEP, Independent Consultant, Mediator, Author and Trainer

DRAFTING WILLS FOR BUSINESS CLIENTS

This session will start with a brief reminder of the rules on business property relief and the extent to which it overlaps with agricultural property relief . It will then look at:

• Planning and structuring the will
• Lifetime steps which may be required
• The use of lasting powers of attorney

Professor Lesley King, Professional Development Consultant, University of Law

RNRB & MITIGATING IHT: THE PROVISIONS NEEDED IN WILLS AND TRUSTS

This talk will explore this major element of wills practice, to consider key points in drafting wills, will trusts and deeds of variation to secure these benefits. The session will recap quickly on some of the key principles of RNRB but with the focus on detailed planning in wills and by variations where there are opportunities to mitigate tax post death.

• Claiming RNRB on a first or second spouse’s death
• RNRB when some beneficiaries “closely inherit” and others do not
• Non-spouse couples: how to get both RNRB and security for a surviving partner with properties owned by partners who are not spouses or civil partners
• When and how can you claim 3 or 4 RNRBs on the estates of two spouses
• Some other IHT mitigation opportunities from drafting wills etc. including property interests

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer

MAKING GIFTS AND DELIBERATE DEPRIVATION

With limits in budgets, local authorities look more closely at any transaction which might be seen as a deliberate deprivation and are refusing to fund care in an increasing number of cases. This session will look at this in more detail.

• What needs to be satisfied to be classed as a ‘deliberate deprivation’
• Can you make a gift when you are receiving care?
• Do trusts work?
• Risks with will trusts

Caroline Bielanska, Solicitor, TEP, Independent Consultant, Mediator, Author and Trainer

5.00 pm CLOSE OF PROCEEDINGS