About Private Client Law
When Private Clients ask questions, they expect answers - right away. But when you’re working across so many different areas of the subject day to day, it’s impossible to hold it all in your head. In addition finding the answer often means cross-referencing several different sources – from the latest legislation to the Law Society’s most up-to-date guidance.
Will Precedents
Precedents covering the most common scenarios in this area. Drafting notes accompany each clause - incorporating the latest developments like Will drafting considerations for inheritance tax residence nil rate band.
Court of Protection
Our Court of Protection topic covers both property and finance, and health and welfare Court of Protection applications. It’s geared at both the Court of Protection specialist practitioner and the occasional user.
Trust compliance
Topics include beneficial ownership transparency, the Money Laundering Regulations, the Trust Registration Service, obligations relating to data protection and GDPR and offences under the Bribery Act 2010.
Cross-referencing sources
When private clients ask questions, they expect answers quickly. But, working across lots of areas day to day, it’s impossible to hold it all in your head. We’ll help you cross-referencing several different sources.
Topics We Cover
Latest Private Client News
The Department for Business and Trade is consulting on proposals for a UK corporate re-domiciliation regime....
HMRC has published Issue 141 of the Agent Update, providing a round-up of updates and reminders for tax practitioners....
This week’s edition of Private Client highlights includes: (1) an application by parents to be appointed deputies for personal welfare of an adult...
HM Revenue & Customs (HMRC) has published a policy paper introducing a measure to lower the Making Tax Digital (MTD) for Income Tax mandation...
This Q&A considers the duty of personal representatives to notify beneficiaries of an estate and potential claimants under the Inheritance (Provision...
Latest Private Client Practice Notes
THIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION SCHEMESTrustees may be subject to personal liability if they commit a breach of trust...
Amendments to a WillA testator, having drawn up a Will, may wish to make amendments to it, either before they execute it or after. In most cases, it...
The general rule is that marriage automatically revokes any Will made by either party before the marriage (this is known as an involuntary...
This Practice Note outlines Bermuda trust law in general terms and highlights its unique features such as its broad reserved powers legislation, its...
Click the link below to download the presentation:Contents•APR/BPR changes•Spousal transferability•Why asset targeting fails•APR/BPR trust...
Latest Private Client Precedents
This document provides general guidance about making an application to appoint a deputy, explaining when such an application might be appropriate, who...
This document provides general guidance about statutory Wills, explaining what they are, when it will be appropriate to make one and the process for...
This document provides general guidance about lasting powers of attorney (LPAs), explaining what they are, the benefits of making one and the process...
[Your ]Will—[name of testator]—explanatory noteThis explanatory note explains the main provisions of your Will in straightforward terms. Please read...
Filed on behalf of the [insert party eg [Claimant OR Appellant] or [Defendant OR Respondents]]Number of witness statement: [insert eg first]Date:...
Latest Private Client Q&As
Featured Private Client content
Nature and classification of trusts—the three certainties
Nature and classification of trusts—the three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...
Protectors
ProtectorsWhat is a protector?A protector is a person who holds powers under a trust but who is not a trustee. A protector is a person who is...
Preparing the application form PA1P/PA1A for probate or letters of administration
Preparing the application form PA1P/PA1A for probate or letters of administrationFORTHCOMING CHANGE: The postal application forms PA1P and PA1A for...
Administration actions—personal representatives and the deceased's liabilities
Administration actions—personal representatives and the deceased's liabilitiesAn individual may assume obligations, for example in respect of...
Loan agreement—individuals
Loan agreement—individualsDATE:Parties1[[name] of [address] [and [name] of [address]] OR [name] and [name] both of [address]] (Lender[s])2[[name] of...
The Cy-près doctrine
The Cy-près doctrineFORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and will be implemented on a...
Trustees—appointment of trustees
Trustees—appointment of trusteesOriginal trusteesTrustees will usually be appointed by the instrument that brings the trust into existence. The trust...
Death in service benefits
Death in service benefitsOverview of the types of death in service benefits and their tax treatmentThere are three types of death in service...
Assent of assets by personal representatives
Assent of assets by personal representativesPersonal representatives (PRs) can transfer assets to beneficiaries in any way that would also be...
A trust holds the beneficial ownership of shares in a company of which one trustee is a director. Of the three beneficiaries, two are adults and there is a declaration of trust in respect of the shares held for them. The other is a minor and there is a separate declaration of trust for him. What would or should happen to the company shares on the death of a beneficiary? Neither declaration of trust deals with this issue.
Intermeddling in an estate
Intermeddling in an estateWhat is intermeddling?An individual who performs certain duties which a personal representative (PR) would perform to...
Termination of trusts—methods of termination
Termination of trusts—methods of terminationDuration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules...
Trusts as a vehicle for holding company shares
Trusts as a vehicle for holding company sharesIntroductionMany trusts own shares as part of a portfolio of investments. This Practice Note looks at...
Benevolent funds
Benevolent fundsFORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and will be implemented on a staggered...
Creation of trusts—life insurance trusts
Creation of trusts—life insurance trustsDefining life insurance trustsA life insurance trust usually involves either:•an assignment of an insurance...
Lifetime gifts
Lifetime giftsA lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In...
Source of income (and private client)
Source of income (and private client)When advising an individual on cross-border or offshore tax planning, it is important to establish the 'source'...
Liferent trusts—Scotland
Liferent trusts—ScotlandLiferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both,...
Associated legal terms
Accumulation period
The period of time during which the trustees can accumulate trust income by adding it to the trust capital instead of paying it out to the beneficiaries. The rule against excessive accumulations dictated that trustees could not accumulate income beyond one of six permitted accumulation periods. This is now abolished as a result of the Perpetuities and Accumulations Act 2009 (PAA 2009) in relation to trusts which are created on or after 6 April 2010, except for charitable trusts. As regards private trusts it is permissible for settlors to choose to impose their own restrictions should they so wish.
Assent
A method of transfer of estate property only available to personal representatives (PRs). An assent activates the gift of estate property to the beneficiary and, after assent, the PRs hold the asset on trust for the beneficiary until any further formalities to transfer the legal title have been complied with.
Financial guardian
Person appointed by the court to manage the property and financial affairs of an adult with incapacity under the Adults with Incapacity (Scotland) Act 2000 (AI(S)A 2000). See also guardian'>welfare guardian.
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