Lifetime Gifts: Validity and Other Issues

Contents

Inheritance tax tends to be the main driver for making lifetime gifts but there are a number of other points that need to be considered. Professor Lesley King studies the points that advisers should consider when clients are considering making lifetime gifts, including:-

• Professional concerns
  • Who is the client?
• Validity
  • Formalities
  • Capacity
  • Undue influence
• Gifts on behalf of persons lacking capacity
• Deliberate Deprivation
• Capital gains tax and income tax implications

Learning objectives

Those who watch this webinar will be able to:

• Identify situations where lifetime gifts are not appropriate
• Advise on the correct way to transfer title
• Identify issues to consider when making gifts to reduce an estate below the RNRB taper threshold
• Advise on the CGT and income tax implications of lifetime gifts

Speaker

PROFESSOR LESLEY KING

Professor Lesley King of the University of Law is co-author of Wills, Taxation and Administration: A Practical Guide; A Modern Approach to Wills, Administration and Estate Planning (with Precedents);  A Practitioner’s Guide to Wills; Wills: A Practical Guide and editor of The Probate Practitioner’s Handbook. She is the wills and probate columnist for the Law Society Gazette, and writes and lectures extensively on wills, taxation and related matters.