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Wills: A Practical Guide 2nd Edition

Wills: A Practical Guide 2nd Edition

Name: Wills: A Practical Guide 2nd Edition
Brand: Wildy, Simmonds and Hill Publishing
SKU: 9780854902743
Price: 585.00 HKD
Availability: InStock
Author: Lesley King; Peter Gausden
ISBN: 9780854902743

Edited by Lesley King · Peter Gausden

Wildy, Simmonds and Hill Publishing September 2019

Specifications

ISBN-13: 9780854902743
Publisher: Wildy, Simmonds and Hill Publishing
Publication: September 2019
Format: Paperback
Jurisdiction: U.K. ? Countri(es) for reference only

Details

' …an easy to use introduction for someone new to will writing or a useful reminder for the more experienced practitioner.' From a review in Law Society Gazette.

This new edition of Wills: A Practical Guide explains what is involved in making a will, with particular reference to avoiding those issues which often given rise to litigation.

Information is provided on the formalities for making a will, the rules on testamentary capacity and related issues, which may affect the validity of the will. There are sections on less common aspects of will-making which often cause problems for practitioners including gifts for the benefit of pets, gifts to employees, gifts of business interests, mutual (as distinguished from mirror) wills, testamentary options, burial and other requests and dealing with property overseas.

These matters are dealt with in the context of the new rules on interpretation of wills resulting from the Supreme Court’s decision in Marley v Rawlings.

The inheritance tax implications of will planning and drafting are covered along with typical strategies for dealing with family wealth by making best use of the exemptions and reliefs available. There is also a chapter aimed at dealing with drafting pitfalls and, more importantly, how to avoid them.

Problems can arise if the existence of a will is uncertain and so there is a helpful section on storing and locating a will. The book also features a selection of useful precedents and checklists.

1.
WILLS AND OTHER DEATH DISPOSITIONS: 1.1 Why make a will?; 1.2 What wills can give away; 1.3 What wills cannot give away; 1.4 Intestacy; 2.
RESTRICTIONS ON TESTAMENTARY FREEDOM: 2.1 Introduction; 2.2 Inheritance (Provision for Family and Dependants) Act 1975; 2.3 Mutual wills; 2.4 Contract to leave property by will; 2.5 Proprietary estoppel; 3.
TESTAMENTARY CAPACITY AND INTENTION: 3.1 Introduction; 3.2 Testator’s age and physical capacity; 3.3 Testator’s mental capacity; 3.4 Testator’s intention; 3.5 Practical issues for the practitioner preparing the will; 4.
REQUIREMENTS FOR VALID EXECUTION: 4.1 Introduction; 4.2 A simple recipe for getting it right; 4.3 Formalities in section 9 of the Wills Act 1837; 4.4 Practicalities of execution; 4.5 Codicils; 4.6 Wills made outside England and Wales and; section in 1 of the Wills Act 1963; 4.7 Wills not subject to section 9 of the Wills Act; 1837;; 5.
REVOCATION OF WILLS: 5.1 Freedom to revoke wills; 5.2 Methods of revocation; 5.3 Revocation by a later will or codicil; 5.4 Revocation by destruction; 5.5 Revocation by subsequent marriage or formation of a civil partnership; 5.6 Effect of divorce and dissolution; 5.7 Conditional revocation; 5.8 Revocation and privileged wills; 6.
ALTERATION TO WILLS AND USE OF CODICILS: 6.1 Alterations made before execution; 6.2 Alterations made after execution; 6.3 Use of codicils; 7.
CONSTRUCTION AND INTERPRETATION OF WILLS: 7.1 Introduction; 7.2 General principles of construction; 7.3 Applying basic rules of construction; 7.4 Using extrinsic evidence as an aid to construction; 7.5 From which date does a will speak?; 7.6 Omitting, changing and supplying words; 7.7 Class gifts and the class closing rules; 7.8 Defining children and other relatives; 8.
WHY GIFTS IN WILLS MIGHT FAIL: 8.1 Reasons for failure; 8.2 Disclaimer; 8.3 Ademption; 8.4 Lapse; 8.5 Forfeiture; 8.6 Beneficiary witnesses will; 8.7 Uncertainty; 8.8 Contrary to public policy; 8.9 Gift induced by force, fear or undue influence; 8.10 Doctrine of satisfaction; 8.11 Abatement; 9.
WILLS DEALING WITH PROPERTY ABROAD: 9.1 Problems caused by owning foreign property; 9.2 Forced heirship; 9.3 Community of property; 9.4 The EU Succession Regulation; 9.5 How many wills?; 9.6 Helping clients to deal with local lawyers; 10.
LOCATING AND STORING WILLS: 10.1 Storing wills; 10.2 Locating lost wills; 10.3 Obtaining probate in absence of the original will; 11.
APPOINTMENT OF EXECUTORS AND TRUSTEES: 11.1 Why appoint executors?; 11.2 Executors distinguished from administrators; 11.3 Drafting the executor’s appointment; 11.4 Who can be appointed?; 11.5 Remuneration of executors; 11.6 How many executors?; 11.7 Executors as trustees; 11.8 Limited and special appointments; 11.9 Conditional, substitute and alternative appointments; 11.10 Failure of appointment – divorce/annulment, renunciation and uncertainty; 11.11 Protecting executors and trustees; 11.12 Some other issues relating to executors; 12.
APPOINTMENT OF TESTAMENTARY GUARDIANS: 12.1 Introduction; 12.2 Who can appoint a testamentary guardian?; 12.3 Requirements for a valid appointment; 12.4 When does an appointment take effect?; 12.5 Consequences for the guardian; 12.6 Funding for guardians and trust funds; 13.
LEGACIES: 13.1 A word on terminology; 13.2 Types of non-residuary legacy; 13.3 Methods of making gifts; 13.4 Particular recipients; 13.5 Subject matter of legacies; 13.6 Relieving provisions and other qualifications attached to gifts; 14.
DEALING WITH THE HOME AND LAND: 14.1 Initial considerations before advising the testator; 14.2 Points relevant to all testamentary gifts of land; 14.3 Choices for the testator; 15.
RESIDUARY GIFTS INCLUDING RESIDUARY TRUSTS: 15.1 Need for an effective gift of residue; 15.2 Value of residue uncertain; 15.3 Calls on residue; 15.4 Is a trust of residue always necessary?; 15.5 Residuary provision; 16.
IMPORTANCE OF INHERITANCE TAX: 16.1 Importance of inheritance tax; 16.2 Death estate; 16.3 Exemptions and reliefs; 16.4 The rate of tax; 16.5 Transferable nil rate band; 16.6 Residence nil rate band; 17.
PLANNING A TAX-EFFICIENT WILL: 17.1 Introduction; 17.2 Using trusts; 17.3 Making best use of the residence nil rate band; 18.
POWERS TO DEAL WITH INCOME AND CAPITAL: 18.1 Power to apply income – section 31 of the Trustee Act 1925; 18.2 Power to advance capital – section 32 of the Trustee Act 1925; 19.
ADMINISTRATIVE POWERS FOR PERSONAL REPRESENTATIVES AND TRUSTEES: 19.1 Introduction; 19.2 STEP standard provisions; 19.3 Legacies to minors; 19.4 Power to invest; 19.5 Power to acquire land; 19.6 Power to act though personally interested and to buy trust property (‘self-dealing’); 19.7 Appropriation of assets; 19.8 Power to charge; 19.9 Retention of directors’ remuneration; 19.10 Power to employ agents; 19.11 Appointment of new trustees; 19.12 Power to act on counsel’s opinion; 19.13 Indemnity clauses; 19.14 Insurance; 19.15 Power to carry on a business; 19.16 Power to borrow; 19.17 Exclusion of the apportionment rules; 19.18 Trusts of Land and Appointment of Trustees Act 1996; 20.
FUNERAL AND OTHER REQUESTS: 20.1 Funeral arrangements; 20.2 Donation of the body and body parts; 21.
PRACTICAL ISSUES WHEN TAKING INSTRUCTIONS AND AT EXECUTION: 21.1 Preliminary matters; 21.2 Terms of the will; 21.3 Executing wills; 22.
TIPS ON AVOIDING DRAFITING PITFALLS: 22.1 Failing to make provision for an event; 22.2 Internal inconsistencies; 22.3 Ignorance of a legal rule; APPENDICES; 1.
A Family Will: 2.
Intestacy Rules: 3.
Planning a Tax-efficient Will – Case Studies