Elderly and vulnerable clients

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Notaries and notarisation—notarisation

The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or...

Creation of trusts—blind trusts

What is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the settlor and beneficiary of the...

Nature and classification of trusts—the three certainties

CertaintyIn order for a settlor to create a private express trust the three certainties must be present, namely:•certainty as to the intention of the...

Lifetime gifts

A lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In contrast, gifts...

Practice notes

The meaning of relevant property

The term 'relevant property' defines a category of trust property which is subject to a special regime for inheritance tax (IHT). As described in...

Produced in partnership with Paul Davies of Clarke Willmott 9th Nov

Practice notes

Offshore trusts—offshore income gains (OIGs)

Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are either:•non-distributor offshore funds, or...

9th Nov

Practice notes

Trust disputes—sham trusts

The issue of sham is most likely to be raised by the settlor's creditors or former spouse if the settlor is involved in matrimonial proceedings, who...

9th Nov

Practice notes

What is an offshore trust?

A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or persons (the trustees) to hold...

Produced in partnership with Mourant Ozannes and Carey Olsen 9th Nov

Practice notes

Beddoe applications

When trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe application is the best...

Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Jovana Nedeljkov of Bankside Chambers 9th Nov

Practice notes

Bermuda trusts

This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...

Produced in partnership with Vanessa Lovell Schrum and Caljonah Smith of Appleby, Bermuda 9th Nov

Practice notes

Trust disputes—court jurisdiction and procedure

Trust litigation has been classified as being of three types:•a dispute as to the trusts on which trustees hold the subject matter of the settlement•a...

9th Nov

Practice notes

Trustees—power of advancement

Where a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married under that date but is required...

9th Nov

Practice notes

Termination of trusts—methods of termination

Duration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules against remoteness of vesting and against the...

9th Nov

Practice notes

Termination of trusts—beneficiaries

Duty to distribute to the correct beneficiariesOn the termination of the trust, the trustees are under a duty to distribute the trust assets to the...

9th Nov

Precedents

Deed of appointment terminating discretionary trust

This Deed of Appointment is made on [date] by [trustee] of [address] and [trustee] of [address] (the Trustees).Background(A)This Deed is supplemental...

9th Nov

Practice notes

Situs of assets for succession and IHT

When you advise an individual on cross-border issues or offshore tax planning, it is important to establish the 'situs' (ie location) of the assets...

9th Nov

Precedents

Partial deed of revocation of lasting power of attorney

This partial deed of revocation is made on [date] by [donor] of [address].1I granted a Lasting Power of Attorney for [Financial Decisions/Health and...

9th Nov

Practice notes

Liferent trusts—Scotland

Liferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both, in the trust property...

Produced in partnership with Peter Murrin of Turcan Connell 9th Nov

Scottish Law

Practice notes

UK taxation of offshore trusts—inheritance tax

An offshore trust is any non-UK resident trust. The liability of trustees of an offshore trust to UK inheritance tax (IHT) is not dependent on the...

Produced in partnership with Jenny Wilson-Smith and Emma Haley of Boodle Hatfield 9th Nov

Practice notes

Creation of trusts in Scotland

Express creation of trustsA trust is constituted expressly where the owner of property (the truster) transfers property to trustees to hold for...

Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 9th Nov

Scottish Law

Most recent Elderly and vulnerable clients content

Practice notes

Fraud tracing and other remedies

It will come as no surprise to practitioners that their older clients are the most vulnerable to financial abuse. Often that abuse is not discovered...

29th Nov

Precedents

Memorandum of digital assets

[To my Attorney(s) named in my EPA/LPA dated ……..AND/ORTo the (Digital) Executor(s) of my Will dated ………]ItemAccess information—eg email address,...

Produced in partnership with Kerry Bornman of 3 Stone Buildings 29th Nov

Practice notes

Mental capacity—an introduction

Solicitors must consider the mental capacity of their clients in everything they do. The consideration of such capacity will occur where:•there is a...

29th Nov

Practice notes

Capacity to litigate

On the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without capacity, in them...

29th Nov

Practice notes

Nursing and residential care contracts

When entering a care home, the future relationship between the new resident and the administrators of the home should be governed by the terms of a...

29th Nov

Practice notes

Equity release schemes

In recent years the phenomenon of the capital-rich, cash-poor elderly client has become more common. Generally their wealth is tied up in their home...

29th Nov

Practice notes

Digital assets on incapacity and death

Digital assets can survive incapacity or death. Anyone who owns a digital device or has an online account should have a plan for dealing with that...

Produced in partnership with Kerry Bornman of 3 Stone Buildings, Erin Hitchens of XXIV Old Buildings and Robert Avis of Charles Russell Speechlys 29th Nov

Practice notes

Lifetime gifts

A lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In contrast, gifts...

29th Nov

Practice notes

Elderly clients disposing of property interests

Elderly clients frequently seek advice from their professional advisers on how to dispose of their house to relatives, either permanently or so that...

29th Nov

Practice notes

Capacity to make gifts, settle property and contract

Mental capacity is the ability to perform a specific juristic act by understanding and making a decision to do something that has legal consequences...

29th Nov

Practice notes

Tax planning for the elderly

Individuals may find themselves liable to pay income tax and capital gains tax during their lifetime. On death their estate may be liable to...

Produced in partnership with Sophie Fenn of The Wilkes Partnership Solicitors 29th Nov

Practice notes

Financial abuse—detection and prevention

Financial abuse of the elderly by carers or members of their own family sadly seems to be on the increase. This can take the form of:•people pilfering...

Produced in partnership with Helen Freely of Druces LLP 29th Nov

Practice notes

Social security benefits—eligibility and claims

STOP PRESS:The Chancellor in his 2014 Autumn Statement announced that the Bereavement Support Payment will become operational from April 2017 and will...

29th Nov

Practice notes

Elderly clients—dealing with professional third parties

Lawyers acting in the field of elderly client law need to be able to take advice from and consult either the client's GP or specialist medical...

Produced in partnership with Victoria Mahon de Palacios of Wedlake Bell 29th Nov

Practice notes

Capacity to create or revoke an LPA

Lasting powers of attorneyLasting powers of attorney (LPAs) were created by the Mental Capacity Act 2005 (MCA 2005) and, apart from the fact that the...

29th Nov

Practice notes

Help with housing costs

Although local authorities have some responsibilities regarding care funding and it is that area that causes major discussion, they also have...

29th Nov

Practice notes

Misuse of EPAs and LPAs and its prevention

Enduring powers of attorney (EPAs) and lasting powers of attorney (LPAs) enable a person's affairs to be managed in the event that they lack capacity...

Produced in partnership with Victoria Mahon De Palacios of Wedlake Bell 29th Nov

Practice notes

Independent mental capacity advocates

Note that this Practice Note addresses only English law. Following devolution there are now differences between the English and Welsh rules on many...

29th Nov

Practice notes

Elderly and vulnerable people—guide to investments and advice

Solicitors are not generally involved in the actual determination of where a client should invest and must be careful not to give financial advice to...

29th Nov

Practice notes

Capacity to marry, cohabit and have sexual relations

Questions of capacity to marry, cohabit, have sexual relations and agree to the use of contraception are clearly highly sensitive and personal issues...

29th Nov