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Drafting Trusts and Will Trusts

Drafting Trusts and Will Trusts A Modern Approach (10th Edition)

Author: James Kessler, QC; Leon Sartin
Publisher: Sweet & Maxwell U.K.
ISBN: 9780414042926
Published In: December 2010
Format: Hardback + CD-ROM
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

New Edition is available now !

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Contents
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Written by James Kessler QC and Leon Sartin, Drafting Trusts and Will Trusts explains the issues involved in drafting trusts and will trusts.

It offers an extensive selection of precedents to suit a wide range of trust requirements, and helps ensure practitioners can make the best tax planning judgements through the use of the correct trust.

The new 10th edition covers:

Accumulations and Perpetuities Act 2009
Finance Acts 2009 & 2010
New chapter on Family Limited Partnerships
New chapter on Trusts of Pension Death Benefits

It also includes:

Discussion of recent HMRC guidance on transferable NRBs and new IHT forms
Review of recent case law including HMRC v Clay (deductibility from income of trustees' management expenses), C v C (whether interest in discretionary trust is financial resource on divorce), Martin v Trigg (negligence in will drafting and taxation of index linked element in nil rate band trusts), Sammut v Manzi (interpreted of "per stirpes" in clause in will)
Discussion of impact for drafting of Human Fertilisation and Embryology Act 2008

Chapter 1:     The Raid on Trusts
Chapter 2:     First Principles
Chapter 3:     Style
Chapter 4:     Principles of Interpreting Trust Documents
Chapter 5:    Beneficiaries
Chapter 6:    Trustees
Chapter 7:     Trustees’ Powers
Chapter 8:     Trust Property
Chapter 9:     The Rule Against Perpetuities and Accumulations
Chapter 10:   General Provisions of a Trust
Chapter 11:   Drafting Overriding Powers (Appointment, Re-settlement and Advancement)
Chapter 12:   Exercising Overriding Powers
Chapter 13:   Settlor Exclusion and Default Clauses
Chapter 14:   Lifetime Interest in Possession Trusts
Chapter 15:   Discretionary Trusts
Chapter 16:   Provisions Inconsistent with IP and IHT Special Trusts
Chapter 17:   Types of Will Trusts
Chapter 18:   Will Drafting after the FA 2008
Chapter 19:   Administration of Nil Rate Band Trusts
Chapter 20:   Wills and Care Fee Planning
Chapter 21:   Administrative Provisions
Chapter 22:   Bare Trusts
Chapter 23:   Trusts of Life Insurance Policies
Chapter 24: Trusts of Pension Death Benefits
Chapter 25:   Charitable Trusts
Chapter 26:   Trusts of Damages
Chapter 27: Trusts for Disabled Beneficiaries
Chapter 28:   Governing Law, Place of Administration and Jurisdiction Clauses
Chapter 29:   Restricting Rights of Beneficiaries
Chapter 30:   Execution of Wills and Trust Documents
Chapter 31: Appointment and Retirement of Trustees
Chapter 32: Indemnities for Trustees
Chapter 33:   Family Limited Partnerships

Precedents for Lifetime Trusts
Precedents for Will Trusts
Precedent for Administrative Provisions
NRB discretionary trusts: supplemental documentation

Retirement and appointment of trustees

Appendix 1: STEP Standard Provisions
Appendix 2: Annotated Biography
Appendix 3: Useful Websites
Appendix 4: NRB debt and charge arrangements: tax analysis
Appendix 5: Tax on payment of index linked nil rate sum
Appendix 6: Share of house in trust: CGT Private Residence Relief
Appendix 7: Definitions of “Disabled Person”
Appendix 8: Notes on the Translation of Will Precedents into Welsh

James Kessler QC is a leading barrister in the area of private client tax and trusts, and is the founder of the STEP Trusts Discussion Forum. James Kessler is also the author of Drafting Trusts and Will Trusts in the Channel Islands, Taxation of Charities and Taxation of Foreign Domiciliaries.

Leon Sartin is a barrister at the Chancery Bar who specialises in both the advisory and litigation aspects of private client taxation, trusts, estate and wills. He is a member of STEP and ACTAPs and a contributor to Heywood & Massey, Court of Protection Practice.