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  • Modern Approach to Wills, Administration and Estate Planning (with Precedents), A

Modern Approach to Wills, Administration and Estate Planning (with Precedents), A


A guide to the tax efficient drafting of wills, administration and estate planning

A 10.3% VAT charge will be added to this product at the checkout as it includes a CD-ROM.

Written by leading lawyers in the field, this popular guide to the tax efficient drafting of wills, estate planning and administration provides practitioners with help and guidance, and discusses the typical problems and pitfalls that may be encountered in practice. The precedents have been carefully selected to deal in a straightforward fashion with the common needs of clients.

The book begins by looking at the essential legal framework of wills, trusts and taxation through a combination of detailed and authoritative commentary, worked examples and expertly drafted precedents. It then examines specific topics including: transferable nil rate band, using IPDIs, provision for children, pilot trusts, gifts, APR and BPR, instruments of variation and disclaimer, and tax efficient administration.

This edition has been extensively revised and includes coverage of:
  • Three new chapters covering Donatio Mortis Causa, the Intestacy Rules and Inheritance Act claims
  • Important new case-law such as the Supreme Court decisions in Marley v Rawlings and Pitt v Holt
  • New legislation including the Trusts (Capital and Income) Act 2013, Inheritance and Trustees’ Powers Act 2014, Finance Acts 2013–2015, Marriage (Same Sex Couples) Act 2013, and the EU Succession Regulations
  • Recent and proposed changes to the tax statutes especially the proposed extension of DOTAS and the new rules for the taxation of relevant property settlements
The authors’ narrative commentary is supplemented by 40 precedents which are included on an accompanying CD-ROM, allowing users to download and adapt each document as necessary.

The authors’ narrative commentary is supplemented by 40 precedents which are included on an accompanying CD-ROM, allowing users to download and adapt each document as necessary.
The Background Law
  • The Essential Wills Law
  • The Essential Trusts Law
  • The Essential Tax Law
Drafting the Will
  • Notes for the Will Draftsman
  • The Impact of the Transferable Nil Rate Band
  • Using Immediate Post-Death Interests
  • Provision for Children
  • Pilot Trusts
  • Reduced Rate of Inheritance Tax when 10% of the Net Estate Left to Charity
  • Agricultural and Business Property
Administering the Estate (Including Establishing and Running Will Trusts)
  • Obtaining the Grant
  • Instruments of Variation and Disclaimer
  • Constituting and Administering Will Trusts
  • Tax Efficient Administration
  • Inheritance Act Claims
  • The Intestacy Rules
  • Donatio Mortis Causa
  • Appendix I Interest Rates Payable on Funds in Court
  • Appendix II Nil Rate Band Tables
"an extremely helpful reference book on estate tax planning ... likely to be of great assistance to many private client practitioners who come across the odd tax problem ... the busy practitioner will therefore find helpful precedents ranging from an appropriately brief memorandum of appropriation to a full, 11-page, 15-clause will, accompanied by helpful 'Drafting hints'. Electronic copies of all the precedents are supplied on the accompanying CD-ROM, which is easy and quick to install ... precedents are intuitively arranged by chapter"
STEP Journal

"the precedents offer time-saving practical advice and guidance to the busy practitioner and professional adviser ... an essential work of reference ... Each precedent can be downloaded and adapted as appropriate to specific cases"
Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers

"just as relevant and useful for tax advisers as it is for practitioners specialising in the administration of estates and the drafting of wills ... we would say that it is virtually imperative for practitioners charged with the tax-efficient drafting of wills, as well as other aspects of estate planning, to acquire this book ... a solidly reliable and readable work of reference that should be kept readily to hand by every professional involved in this technically challenging and fast changing area of law"
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Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers

"Any book about wills and estates should now be covering the reduced rate of inheritance tax (IHT) if 10 per cent of the net estate is left to charity ...authors Christopher Whitehouse and Professor Lesley King have devoted a whole chapter to the matter ... it is an assured and useful guide ... this book is a veritable mine of useful information and would be a significant addition to any private client library, though. It is accessible for trainees while maintaining a depth of knowledge that makes it invaluable to more senior practitioners. It is well paced and easy to navigate as well as being clear and concise, yet comprehensive"
Tess Goldman, Associate, Harbottle & Lewis

The third edition of this work has been updated to take into account recent case and statutory law and, in addition, three new chapters have been included in a new Section D. These deal with the rules of intestacy (taking into account the 2014 changes); the arcane sounding donatio mortis causa (and some recent cases) and claims under the 1975 Act (which generates voluminous case-law each year).

Real difficulties, however, have arisen from the activities of HMRC in first looking to simplify the IHT treatment of relevant property trusts and then in striving to make the rules fairer (to HMRC). The result has been chaos and the relevant sections in Chapters 3 and 8 have been endlessly rewritten as one proposed change has been swiftly followed by a u-turn and further proposals. The end result is that the significant changes intended to take effect on 6 April 2015 (with some backdating – in modern jargon ‘anti-forestalling’ – to 10 December 2014) failed to get into FA 2015 in the last days of the Coalition Government. We are told that these changes will be introduced in a future Finance Bill although it is unclear how HMRC can bind the next Government to do this. Accordingly, at the time of writing, whether the proposed changes will be introduced and, if so, from what date remains a matter of uncertainty. For this reason a card is included in the book which should be completed and returned to the publishers. As and when the position is clarified, an email will be sent to those who have returned the card setting out the position and updating the appropriate sections of the book.

This whole episode raises a number of interesting issues: for instance, how a consultation designed to simplify the legislation was hijacked to remove the IHT benefits of multiple settlements! And why the draft legislation was not included in the large Finance Act that was rushed through all of its Parliamentary stages in a single day. In itself, this is perhaps the most striking event of all. Is Parliament not supposed to scrutinize legislation imposing taxation, and indeed were not rebellions and wars fought in the past to establish the principle that there should be no tax without representation? Nowhere is the decline in the role of Parliament more striking than in the passage of FA 2015.

Through all this Elouise Dale has dealt in her inimitable way with the rewrites, and Jordan Publishing, and especially the long suffering Tony Hawitt, have been models of restraint.

The law is stated at 1 April 2015.


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