Wills, Probate & Advising the Elderly Autumn Update 2024

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KEY SUBJECTS

• INHERITANCE TAX TIPS AND TRAPS
• POWERS IN WILLS AND TRUSTS
• POST BUDGET PRIVATE CLIENT TAX UPDATE
• DIGITAL LASTING POWERS OF ATTORNEY
• STATUTORY WILLS
• THE SELF DEALING RULE FOR ATTORNEYS AND DEPUTIES: THE CONSEQUENCE AND AVOIDING IT

SPEAKERS

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer

Professor Lesley King, Professional Development Consultant, University of Law

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

PROGRAMME

9.30am CHAIRMAN’S INTRODUCTION

INHERITANCE TAX TIPS AND TRAPS

This session will explore current IHT issues post-budget, and consider both specific tips to take up and some traps to avoid! It will:

• Take stock of key lifetime tax planning opportunities for Inheritance Tax (IHT)
• Consider specific action clients might wish to take to mitigate IHT
• Things to watch to help clients avoid traps

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer

POWERS IN WILLS AND TRUSTS

Dealing with trusts and estate often requires an understanding of the powers given in the will or trust whether you are drafting the original instrument or advising on an existing instrument.

This talk will look at:

• Administrative and dispositive powers
  • the differences
  • where power to appropriate fits in

• Common dispositive powers in trusts
  • Why so many?
  • how they can be exercised
  • tips and traps

• Administrative provisions
  • the STEP provisions 3rd edition
  • adding additional powers
  • limitations

 Professor Lesley King, Professional Development Consultant, University of Law

POST BUDGET PRIVATE CLIENT TAX UPDATE

Following the major changes for private client taxes in the Budget on 30 October, we will explore:

• Changes that affect will drafting and advice on lifetime tax planning
• The big changes to Inheritance Tax (IHT) for businesses, farms and pensions
• The CGT rate changes & what they mean for planning
• The changes for resident non-doms: what is happening, and is it important for private clients to know, for the practitioner who is not an international specialist
• The stealth tax environment, likely to continue with any new government, how much it has (or hasn’t) changed and how we can help clients squeezed for more tax, with all the frozen or cut allowances, exemptions etc
• Any tax planning issues for estates and trusts, in this environment

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer

DIGITAL LASTING POWERS OF ATTORNEY

This talk will look at the introduction of digital LPAs and include:

• Differences between 2015 prescribed form and digital LPAs
• The anticipated process for creation and registration
• The role of the certificate provider- in the light of TA v the Public Guardian
• Adding value to the process

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

STATUTORY WILLS

Most practitioners do not often have to make statutory will applications. Getting it wrong is serious as the process is not usually swift even when you get everything right. This talk will look at:

• Information required
• The role of the OSS
• Approach of the Court of Protection
• Common errors

Professor Lesley King, Professional Development Consultant, University of Law

THE SELF DEALING RULE FOR ATTORNEYS AND DEPUTIES: THE CONSEQUENCE AND AVOIDING IT

This is a common law rule which prevents attorneys and deputies from self benefit and putting themselves in a position of conflict. The talk will cover a wide range of situations including:

• Selling or buying a property to a family member
• Severing a joint tenancy
• Charging for services
• Making gifts, maintenance and making family care payments
• Professional appointments and referring work to in house teams
• Applying for authority from the Court- when and how

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

5.00 pm CLOSE OF PROCEEDINGS