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Private client, Wills , | LIVE webinar

Private Client Law Refresher Course – IHT Update

2 hoursIntermediate

This live virtual classroom is scheduled on 16 November 2021, between 10:30-12:30.

Delivered by renowned expert in the field Professor Lesley King, this course will provide an update in IHT and is suitable if you are considering returning to this area of law following a career break or currently work within private client law and wish to update your knowledge in certain areas.

This virtual classroom is part of a series of seven courses for individuals across all levels of PQE who are seeking to update their knowledge of private client law. The other sessions can be booked through this link. On-demand versions will be available after each event for those who cannot attend on the day or who wish to purchase after the event has taken place.

Who this is for

Paralegals, Solicitors.

Required prior knowledge

Prior experience and knowledge of IHT law and practice.

Learning outcomes

SRA competence: A2  +2 more for SRA competence: A2, A4, A5

After this session you will be aware of the recent changes to IHT and able to:

  • calculate IHT correctly, and
  • advise appropriately on IHT issues.
What this will cover

THE TRANSFER OF VALUE

  • Loss to the estate principle
  • Open market value

GROSSING UP & PARTLY EXEMPT TRANSFERS

  • What is grossing up?
  • When is it necessary on death?
  • Allocation of IHT on partly exempt estates
  • Double grossing up

LIFETIME GIFTS

  • Limitations of taper relief
  • Who pays the IHT?
  • Dangers for PRs and trustees
  • Changes in value between gift and death

RESIDENCE NIL RATE BAND (RNRB)

  • Overview
  • Transferred RNRB
  • Availability on residences held in life interest trusts
  • Adjustments to will drafting
  • Downsizing