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Varying the Disposition of an Estate After Death, 2nd Edition

Varying the Disposition of an Estate After Death, 2nd Edition

Author: Lesley King
Publisher: Law Society Publishing
ISBN: 9781784462291

Previous Edition ISBN: 9781784461416
Published In: May 2024
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

List Price: $135.20

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Description
Contents

Details

This book provides invaluable help to those advising clients about the opportunities, implications and pitfalls of varying the disposition of estates using variations and disclaimers. Altered personal circumstances or legislative changes, often mean that the way in which property has been left on death is unsatisfactory and can be improved.

Inheritance tax, capital gains tax, income tax, stamp duty, trusts and their implications are fully considered. The book explains the alternative provisions available (IHTA 1984, s.142, s.143 and s.144); the requirements and formalities; what can be achieved by each section of the Act and what could cause potential problems.

The second edition has been fully updated to include:

The Trust Register and the treatment of trusts created by variation
The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2021 and the Charities Act 2022
Latest case law
Changes to the CGT manual
A new chapter on rectification of defective wills
A full suite of precedents for deeds of variation and related issues

Part 1. Introduction:
1. Why do statutory provisions dealing with post-death alteration of dispositions exist?
Part 2. Variations and disclaimers:
2. Difference between a disclaimer and a variation
3. Variations and inheritance tax
4. Disclaimers and inheritance tax
5. Variations, disclaimers and capital gains tax
6. Variations, disclaimers and income tax
7. Variations, disclaimers and stamp duties
8. Variations and disclaimers in action
9. When it all goes wrong: curing mistakes
Part 3. Compliance with testator’s request and orders under Inheritance (Provision for Family and Dependants) Act 1975:
10. Compliance with testator’s request
11. Orders under Inheritance (Provision for Family and Dependants) Act 1975
Part 4. Property leaving a relevant property trust within two years of death:
12. Inheritance Tax implications
13. Capital Gains Tax implications
14. Some examples of section 144 in action
Appendices
Precedents