Probate, Trusts, Tax and the Elderly Update 2020

KEY SUBJECTS

• LIFETIME INHERITANCE TAX PLANNING
• WILL DRAFTING INCLUDING RNRB
• ELDERLY CLIENT UPDATE
• DEALING WITH CLAIMS UNDER I(PFD)A 1975
• LASTING POWERS OF ATTORNEY
• NEGLIGENCE IN PRIVATE CLIENT PRACTICE 

SPEAKERS

Professor Lesley King, Professional Development Consultant, University of Law

Sheree Green, Director of Greenchurch Legal Services Limited

James Beresford, Partner at BLM

PROGRAMME

LIFETIME INHERITANCE TAX PLANNING  

What are the key lifetime planning opportunities for clients, and possible changes to watch out for, now the Conservative Government has a big majority for the first time in 4 years? This session will take into account any changes in the March Budget, and any new legislation, and will explore:

• The proposals in the Office of Tax Simplification July 2019 report on IHT which might influence our advice
• The real openings to use lifetime exemptions such as “normal expenditure”
• Any current planning issues for business and farming clients
• Lifetime planning to avoid loss of RNRB with estates over the £2m taper threshold

Professor Lesley King, Professional Development Consultant, University of Law

WILL DRAFTING INCLUDING RNRB

Good will drafting should be easy for the client to understand but, even more importantly, it should create a document that carries out the client’s wishes without ambiguity and uncertainty. This session will look at common problems and how to avoid them.

In particular it will look at:

• Use of definitions
• Layout
• Substitutional gifts
• Importance of planning
• Defective drafting
• RNRB issues
• Drafting flexible life interests

Professor Lesley King, Professional Development Consultant, University of Law

ELDERLY CLIENT UPDATE

• Data and confidentiality: The SRA and GDPR
• Wills and current guidance on Larke v Nugus requests
• Capacity case law update
• News from the Court of Protection and the OPG

Sheree Green, Director of Greenchurch Legal Services Limited

DEALING WITH CLAIMS UNDER I(PFD)A 1975

Those administering estates are often faced with potential claims. No one wants to go to court but beneficiaries don’t want to be held to ransom by unmeritorious claims. This session will focus on basic principles and recent case law to help practitioners evaluate the strength of a claim.

It will consider in particular:

• The approach to cohabitees
• The meaning of maintenance
• The position of cohabitees
• The importance of pre-trial concessions
• The respective positions of PRs and beneficiaries

Professor Lesley King, Professional Development Consultant, University of Law

LASTING POWERS OF ATTORNEY

• Recent developments and cases of interest
• Can the donor’s money be used to meet the needs of others?
• Current guidance on discretionary fund management
• How to disclaim and how to revoke
• GDPR and attorneys

Sheree Green, Director of Greenchurch Legal Services Limited

NEGLIGENCE IN PRIVATE CLIENT PRACTICE 

Mistakes happen, we all know that but what can we learn from them and how can we prevent our team repeating them? This refresher session will provide an aide memoir about negligence in this increasingly complex area and will provide practical tips on how to put in place safeguards. This session will look at:

• Taking instructions
• Drafting
• Joint Property bequests
• Will Execution
• Capacity
• Risk Management

James Beresford, Partner at BLM