In a time of increased competition anyone preparing wills needs to be confident in the quality of the product offered. This practical course covers the whole process starting with taking instructions - which is where things so often go wrong, then looking at planning points involved in wills for married couples, cohabitees and the elderly and finally at detailed drafting points.
It looks at drafting will trusts and common pitfalls. It is designed to allow practitioners to take a fresh look at their drafting practices, particularly in the light of recent legislation and case law.
Mini-case studies and suitable precedents will accompany the materials and there will be opportunities for questions and discussion. The course will also provide a thorough review of negligence and best practice in the company of our expert speaker, Professor Lesley King
SESSION 1: TAKING INSTRUCTIONS - WHAT DO YOU NEED TO KNOW?
1. Details of property owned
- Is severance of joint tenancy required?
- Are there any third party rights?
- Land: constructive/resulting trusts: Stack v Dowden, Jones v Kernott, Gallarotti v Sebastianelli, Quaintance v Tandan
- Proprietary estoppel: Gillett v Holt, Jennings v Rice, Campbell v Griffin, Grundy v Ottey, Uglow v Uglow, Thorner v Majors, Macdonald and Brannigan v Frost, Suggitt v Suggitt.
- Bank accounts: Sillett v Meek, Aroso v Coutts (Aroso v Coutts, Drakeford v Cotton and Sillars v IRC)
- IIs there any possibility of BPR/APR?
2. Details of family and dependants
- Is there a spouse, civil partner or cohabitee?
- Are there children?
- Are any beneficiaries minors?
- Is there a possible claim under I(PFD)A 1975?
- Does client want advice on minimising chances of a successful claim?
3. Any reason to question capacity/consider undue influence?
- Should you see earlier wills? Kenward v Adams, Charles v Fraser.
- What about the golden rule? Key v Key, Wharton v Bancroft and Others. What is undue influence: Hubbard v Scott?Liability for costs?
SESSION 2: PLANNING THE WILL
1. Spouses and children
- Advantages and disadvantages of using the transferable nil band
- Discretionary trusts and IHTA 1984, s144
- Flexible life interest
- Holding the balance
2. Cohabitees and children
3. Using pilot trusts?
4. Property eligible for BPR
- Maximising relief
- IHTA 1984, s39A
- The double dip
- Nil rate band legacies and s39A
- Discretionary trusts
5. Are mutual wills ever a good idea?
SESSION 3: WILL DRAFTING
- Revocation and foreign wills
- Will in expectation of marriage/formation of civil partnership
- Signature on behalf of testator
- Special attestation clauses
- Executors and Trustees
- Partners in firm
- Charging clauses
- IHTA 1984, s144 problems
- Exemption clauses
- Self dealing
- Implied rules: adoption, legitimacy, assisted reproduction, civil partnership, same sex marriages
- Wills Act 1837, s33: Ling v Ling, Rainbird v Smith
- Survivorship clauses
- Estates of Deceased Persons (Forfeiture Rule and Law of Succession) Act 2011
- Obligations in relation to charities
- Errors in identification
- Charities Act 2011, s 311
- Berry and another v IBS-STL Ltd
- Ceasing to exist: Re ARMS (Multiple Sclerosis Research) Ltd
- Express clauses
5. Non-residuary gifts
- Burden of IHT
- Express clauses
- Pecuniary Legacies
- Nil rate band formula clauses
- Receipts for minors
- Contingent gifts: intermediate income
- Implied rules
- Express clauses
6. Specific Legacies
- Personal chattels
- Expenses of transfer
- Intermediate income
- IHTA 1984, s143
7. Residuary gifts
- Partly exempt transfers: IHTA 1984, s41
8. Reduced rate for charities
9. Administrative Provisions
- Capital and Income: Trusts (Capital and Income) Act 2013
- Inheritance and Trustees’ Powers Bill
- STEP Standard Provisions