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A Practitioner's Guide to Wills 4th Edition

A Practitioner's Guide to Wills 4th Edition

Author: Lesley King; Keith Biggs; Peter Gausden
Publisher: Wildy, Simmonds and Hill Publishing
ISBN: 9780854902040

Previous Edition ISBN: 9780854900725
Published In: January 2017
Format: Hardback + CD-ROM
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

The fourth edition of this popular title provides a practical and comprehensive reference for all those concerned in drafting and interpreting wills, and in giving effect to their provisions.

The commentary is supported throughout by an extensive range of specimen clauses. and model wills are provided in a separate appendix. All precedent material is included on the accompanying CD-ROM, enabling practitioners to adapt precedents for their own use.

Fully updated, A Practitioner's Guide to Wills now covers the Estates of Deceased Persons (Forfeiture Rule and Law of Succession Act) 2011, Marriage (Same Sex Couples) Act 2013, Trusts (Capital and Income) Act 2013, the EU Succession Regulation and the Inheritance and Trustees Powers Act 2014, the latter making major changes to the intestacy rules, family provision legislation and trustees’ statutory powers of maintenance and advancement.

It examines the impact of these legislative changes as well as developments in taxation affecting wills, notably the new relevant property trust regime and its impact on pilot settlements, the new residence nil rate band, the reduced rate of IHT for gifts to charity and the new rules on trusts for disabled beneficiaries.

The impact of the new residence nil rate band on planning and drafting is considered, together with the role that nil rate band gifts and discretionary trusts might still have to play in financial planning. The chapter on construction of wills has been rewritten following the Supreme Court’s decision in Marley v Rawlings and subsequent cases including Reading v Reading are considered.

The chapter on testamentary capacity has been revised in the light of developments since the Mental Capacity Act 2005 including Simon v Byford which considered the extent to which dementia affects testamentary capacity. Other recent cases discussed include the Court of Appeal decisions in Ilott v Mitson and its implications for testators who wish to exclude close family members from benefit.

Preface

Table of Precedents

Table of Cases

Table of Statutes

Table of Statutory Instruments

Table of Conventions;

Introduction

The Nature of a Will

Testamentary Capacity

Formal Requirements for the Creation of a Will

Beneficiaries

Beneficiaries Identified by Description or Relationship

Revocation and Alteration

Codicils, Revival and Republication

Executors and Trustees

10.

The Disposal of the Body

11.

Foreign Property or Domicile

12.

Legacies

13.

Gifts of Businesses

14.

Gifts of Land

15.

Conditions Attached to Gifts

16.

Pilot Trusts

17.

Gifts of Residue

18.

Powers and Discretionary Trusts

19.

Income and Interest

20.

Abatement, Ademption, Election, Satisfaction and Conversion

21.

Testamentary Options to Purchase

22.

Administrative Provisions

23.

Perpetuities and Accumulation

24.

Construction

25.

Failure of Gifts and Intestacy

27.

Inheritance Tax

28.

Capital Gains Tax

29.

Settlements

30.

Tax-Efficient Will Planning

Appendices

A1 Complete wills and miscellaneous precedents;

A1A Standard will: full form (long)

A1B Mutual wills

A1C Will disposing of a business

A1D Will of widow(er) exercising power of appointment given by will of pre-deceased spouse

A1E Will giving nil rate band legacy to discretionary trust

A1F Simple will giving all property to another of full age absolutely

A1G Codicil made on separation from spouse prior to divorce

A1H Codicil reviving former will previously revoked

A1I Will providing for discretionary trust of income during perpetuity period with division of capital at the end of period between surviving beneficiaries

A1J Letter of wishes to trustees

A1K Deed of variation to sever beneficial joint tenancy and create nil rate band legacy

A1J Deed of variation of a will

A2 Nil rate band discretionary trusts with debt/charge provisions;

A2A Explanatory note

A2B Additional clauses for a will containing a nil rate band discretionary trust which is to include debt/charge provisions

A2C Debt scheme: draft letter from the executors to the trustees of the legacy fund (when a charge is being imposed by the executors)

A2D Debt scheme: securing the debt

Index