Managing Trusts

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Details
Speaker: Professor Lesley King
CPD Time: 1.5 hours
Duration: 1 hour
Information

Contents

Is there still a place for trusts given the nil rate band and the residence nil rate band and the increasing administrative burdens placed on trustees?  If so, what problems are there for trustees?

This webinar looks at:-

  • Reasons for using trusts
  • The impact of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
  • Problems often encountered by those running trusts in relation to:
    • Appointment and retirement of trustees
    • Having beneficiaries as trustees
    • Exercising powers of appointment and advancement
    • Dealing with trust income in a tax efficient manner
  • Checks that should be made by PRs and Trustees to avoid allegations of negligence in relation to the residence nil rate band

Learning objectives

Those who watch this webinar will be able to:

  • Correctly identify their obligations under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 to gather information and to use the trust register
  • Deal with trust income in a tax efficient manner
  • Avoid problems in relation to the appointment and retirement of trustees
  • Use powers of appointment and advancement correctly
  • Advise personal representatives and trustees on maximising the benefits to be obtained from the residence nil rate band

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.

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