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Risk and Negligence in Wills, Estates and Trusts

Risk and Negligence in Wills, Estates and Trusts

Author: Martyn Frost; Penelope Reed; Leon Sartin
Publisher: Oxford University Press
ISBN: 9780199551606
Published In: March 2009
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents
Author

Details

Provides a comprehensive survey of the principles, practice, and procedure involved in wills, trusts, and estates
Gives practical guidance on avoiding the pitfalls when drafting wills, and administering estates and trusts
Contains advice on how to control risk, breaking down procedures and actions into step-by-step processes, sample forms, and checklists
Suitable for both contentious and non-contentious lawyers

In recent years, there has been a dramatic increase in litigation against those who draft wills and trusts. There is significant potential for client dissatisfaction and for claims to arise out of drafting errors; failure to follow instructions; delays and missed critical dates; failure to anticipate risks and to protect the client; errors and omissions in examining and reporting on documentation; incorrect advice as to the law; fraud and dishonesty; and loss of documents. In addition, the book examines how far is it appropriate to ensure that an estate is administered properly. This book offers a detailed examination of the law relating to negligence as it applies to the preparation and administration of wills, trusts, and estates, as well as offering extensive coverage of the relevant taxation issues.

This work contains indispensable practical guidance, tailored to meet the demands of contentious solicitors and barristers involved in resolving disputes, and non-contentious solicitors and trust practitioners who want to establish best practice to prevent disputes over wills, trusts, and estates. It includes advice on best practice, explaining how to undertake this work effectively and to maintain an adequate control of risk, in the form of procedures or actions broken down into step by step processes, checklists, and example forms and controls. It contains an overview of the principles and procedure relating to these actions. It also provides appendices of forms, precedents, and checklists.

The book expands on Martyn Frost and Penelope Reed's previous book, With the Best Will in the World, (Legalese, January 2002) which was shortlisted for the 2004 High Nets' Private Client Book of the Year.

Readership: This title will appeal to solicitors and barristers engaged in contentious and non-contentious trusts, estate, and negligence work, as well as accountants and trust company and private bank staff who are engaged in these areas. It may also be of interest to professional indemnity insurance staff.

Negligence and Will Preparation
1: An introduction to tort
2: The Duty of care in relation to will preparation
3: Other aspects of the duty of care
The Process of Will Preparation
4: Client issues
5: The will draftsman
6: Instructions, Preparation, and Execution
7: Other issues
8: Risk
Administration of Estates and Trusts9: Introduction and new business
10: Neutrality of PR and trustees
11: Administration processes
12: Timing
13: Assets
14: Distributions
15: Powers and Duty of Care
Taxation16: Wills and tax advice
17: Tax in the administration of estates
18: Tax and trusts
19: Tax advice during the lifetime of the client
Litigation20: Introduction and procedure
21: Limitation
22: The Assessment of damages
23: Mitigation and the interrelation with other claims
Statutes and AppendicesWills Act 1837
Trustee Act 2000
Will instruction form
Execution of a will
Information needed in an emergency will pack
Administration of estate progress sheet
Estate account checklist