Private client , | Recorded webinar
Private Client Law Update and Refresher Course – Varying the Disposition of Estates
This virtual classroom was delivered on 25 November 2021. The on-demand version is available for purchase now.
Delivered by renowned expert in the field Professor Lesley King, this course provides an update in probate law and practice. It 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 event is one in a series of seven 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.
Who this is for
Required prior knowledge
Prior experience and knowledge of varying the disposition of estates.
SRA competence: +2 more for SRA competence: A2, A4, A5
After this session, you will be able to:
- identify occasions where reading back provisions will be useful,
- select and implement the appropriate statutory provision for reading back, and
- avoid pitfalls.
What this will cover
WHAT IS READING BACK AND WHY IS IT BENEFICIAL?
THE STATUTORY PROVISIONS & HOW THEY WORK
- What statutory provisions exist?
- What is a variation?
- What is a disclaimer?
- When is a disclaimer useful?
- Formalities for variations and disclaimers
- IHTA, s144
- Formalities for s144
TRAPS WHEN USING THE PROVISIONS
- Can you vary a discretionary trust?
- Easy to overlook automatic reading back under s144
- Reading back is only for IHT and CGT
- Must be no consideration
- The dangers of IHTA 1984, s142(4)
TIPS ON USING THE PROVISIONS
- Variation after sale of asset by original legatee
- Acquiring the residence nil rate band (RNRB)
- Variation redirecting property to a person already dead
- Variation on behalf of person already dead
- Obtaining the charity exemption
- Obtaining the reduced rate
How you will learn
This training consists of the following elements.
- A live interactive online classroom presentation (with on-demand version available)
- Detailed session notes (pdf)
- Certificate of completion