Virtual Conference – Wills, Probate and Advising the Elderly Update Conference 2020 – Recorded 15th October
KEY SUBJECTS
- CAPITAL TAX UPDATE
- DEALING WITH NIL RATE BAND DISCRETIONARY TRUSTS
- CURRENT ISSUES IN PLANNING AND DRAFTING WILLS
- ELDERLY CLIENT UPDATE
- WHAT’S HAPPENING IN PRIVATE CLIENT PRACTICE
SPEAKERS
Simon Douglas, Barrister, 5 Stone Buildings
Professor Lesley King, Professional Development Consultant, University of Law
Helen Clarke, Solicitor, Legal Lecturer and Trainer
PROGRAMME
9.30am CHAIRMAN’S INTRODUCTION
CAPITAL TAX UPDATE
This talk will consider recent developments in the capital taxes. This talk will focus on developments in IHT and CGT and will be of interest to those working in trusts and estate planning. Topics covered will include:
- Recent IHT and CGT cases
- HMRC practice update
- Recent decisions on APR and BPR
- Reservation of benefit rules and DOTAS
- Tax planning hints and tips
Simon Douglas, Barrister, 5 Stone Buildings
DEALING WITH NIL RATE BAND DISCRETIONARY TRUSTS
Many married couples (and to a lesser extent cohabitees) solve the problem of protecting assets against care home fees and second marriages by the use of trusts. They may be nil rate band discretionary trusts or flexible life interest trusts.
This talk will consider some of the problems that can arise in relation to nil rate band discretionary trusts and will include:
- Does the trust have to be registered, taking into account the different requirements of the 4th and 5th Anti-Money Laundering Directive?
- Should a nil rate band discretionary trust be brought to an end on first death or kept going?
- Should it be converted into a life interest trust?
- How can the costs of running such trusts be reduced?
- Conferring rights to income
- Mandating income
- What if a trustee loses capacity? Can they be removed?
Professor Lesley King, Professional Development Consultant, University of Law
CURRENT ISSUES IN PLANNING AND DRAFTING WILLS
This talk will look at some recurring problems in planning and drafting Wills. It will look at:
- Assessing Capacity
- Covid 19: difficulties of remote assessment
- What to do when uncertain of capacity
- Taking instructions
- Avoiding misunderstandings
- Right of occupation or full life interest?
- What’s the difference?
- What turns on the choice?
- Flexible life interests:
- Benefits
- Danger of challenge
- Drafting issues
- Pitfalls
Professor Lesley King, Professional Development Consultant, University of Law
ELDERLY CLIENT UPDATE
- An MCA 2005 update including the impact of Covid 19
- An update of Court of Protection decisions plus action points
- The Care Act , Care Funding, and Care Homes under the Corona Virus Act 2020
- Private Client practice in the “new normal” digital world -the pitfalls and risks
Helen Clarke, Solicitor, Legal Lecturer and Trainer
WHAT’S HAPPENING IN PRIVATE CLIENT PRACTICE
The precise content of this session will vary depending on events in the next few months but is likely to include:
- Changes to probate practice introduced in part in response to Covid 19 pandemic
- The most recent cases on post-death variations and I(PFD)A claims.
- STEP Guidance on GDPR for private client practitioners
- Forfeiture rule and causing death by dangerous driving
Professor Lesley King, Professional Development Consultant, University of Law
5.00 pm CLOSE OF PROCEEDINGS
Sponsors
