Wills & Probate Lecture

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Wills & Probate Lecture

2nd May 2023 - 1:45 pm - 4:45 pm

£90.00 – £130.00
 Professor Lesley King is Private Client Practice Head at the College of Law, Bloomsbury.

Drafting and using IPDI trusts and NRB discretionary trusts

These trusts are very popular particularly for spouses, but they do present challenges both in drafting and in administering. This session will consider the need to register trusts and the followingissues:

IPDI Trusts

  • What is the difference between a life interest trust and an IPDI trust?
  • Drafting issues
  • IHT issues
  • CGT and income tax treatment
  • Consequences of terminating an IPDI during beneficiary’s lifetime
  • Is RNRB available on second death?
  • Likelihood of challenge from surviving spouse/civil partner
  • Who should be the trustees?
  • Loss of capacity

NRB discretionary trusts

  • Should they be kept or wound up?
  • IHT treatment, if kept
  • CGT and income tax treatment, if kept
  • Constituting the trust
  • Procedure if winding up
  • Self-dealing problems
  • Conflicts of interest

 

After completing the session delegates will be able to:

 

Advise on the need to register details of beneficial owners of trusts

Explain the IHT advantages and disadvantages of each type of trust

Explain the CGT and income tax treatment of each type of trust

Identify circumstances in which it may be beneficial to wind up the trusts and  the tax implications

Identify problems arising for trustees in relation to self-dealing and loss of capacity as a trustee

 

 

Details

Date:
2nd May 2023
Time:
1:45 pm - 4:45 pm
Cost:
£90.00 – £130.00
Event Category:

Venue

Eastleigh FC
Silverlake Stadium
Southampton, SO50 9HT United Kingdom

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