About Private Client Law
When Private Clients ask questions, they expect answers - right away. But when you鈥檙e working across so many different areas of the subject day to day, it鈥檚 impossible to hold it all in your head. In addition finding the answer often means cross-referencing several different sources 鈥 from the latest legislation to the Law Society鈥檚 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鈥檚 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鈥檚 impossible to hold it all in your head. We鈥檒l help you cross-referencing several different sources.
Topics We Cover
Latest Private Client News
This Q&A considers the IHT reporting implications where one of the sellers of property held as joint tenants dies between exchange and completion....
This week鈥檚 edition of Private Client highlights includes: (1) Application to Withhold Closed Material: Concurrent Civil Proceedings, in which the...
This Q&A considers whether the partners or members in a successor practice of a law firm whose partners were appointed as executors in a Will can...
Law360: The US Treasury Department proposed regulations on 7 May 2024 that provide guidance on the requirements for individuals to report their...
Pensions analysis: The First-tier Tribunal (Tax Chamber) has handed down its judgment in respect of an appeal brought against a decision by HMRC to...
Latest Private Client Practice Notes
Establishing a beneficial interest (joint ownership)Where two or more people together own real property, they hold it under a trust of land. Where...
Transferring trust assets鈥攊nterests in landNote that this Practice Note deals only with trust assets comprising an interest in land.Transferring...
Overreaching鈥攕ales by trustees of landBroadly, the doctrine of overreaching enables purchasers (which includes tenants and mortgagees) in good faith...
Overview of the EU legal systemIntroduction to the EU legal systemThe EU legal system is sui generis鈥攖here is no other legal system it can be compared...
Consolidated HMRC Manuals tracker 鈥 Private ClientSTOP PRESS: From 18 January 2024, customers applying for probate in England and Wales no longer need...
Latest Private Client Precedents
Inheritance tax鈥攃lient guideWhat is inheritance tax?Inheritance tax (IHT) is broadly a tax charged on a person鈥檚 death, based on the value of that...
Will鈥攖o spouse absolutely, then to children on flexible life interest trustFORTHCOMING CHANGE: At Spring Budget 2024 on 6 March 2024, the government...
Will鈥攍egacy of agricultural property on discretionary trust, residue to spouse absolutely, then to children absolutelyFORTHCOMING CHANGE: At Spring...
Will鈥攍egacy of business property on discretionary trust, residue to spouse absolutely, then to children absolutelyFORTHCOMING CHANGE: At Spring Budget...
Will鈥攖o spouse absolutely, then on discretionary trust1RevocationI [full name of testator] of [address of testator] revoke all former testamentary...
Latest Private Client Q&As
Featured Private Client content
Can a power of attorney lapse or expire or does it last indefinitely? Does it need to be updated or 'refreshed'?
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...
Nature and classification of trusts鈥攖he three certainties
Nature and classification of trusts鈥攖he three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...
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...
Exemptions and reliefs from income tax
Exemptions and reliefs from income taxFor income tax rates and allowances applicable in the current tax year, see Practice Note: Key UK tax rates,...
Payment of legacies
Payment of legaciesIdentification of beneficial interestsThe personal representatives (PRs) of an estate must identify:鈥he beneficiary or...
Liferent trusts鈥擲cotland
Liferent trusts鈥擲cotlandLiferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both,...
Notaries and notarisation鈥攏otarisation
Notaries and notarisation鈥攏otarisationThe principles of the notarial act are that it is:鈥n act of the notary and not of the parties named in the...
Trustees鈥攕elf-dealing, unauthorised profits and conflicts of interest
Trustees鈥攕elf-dealing, unauthorised profits and conflicts of interestThe self-dealing ruleThe self-dealing rule is connected to, but distinct from,...
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鈥攍ife insurance trusts
Creation of trusts鈥攍ife insurance trustsDefining life insurance trustsA life insurance trust usually involves either:鈥n assignment of an insurance...
CGT鈥擯PR relief for UK residents with overseas dwellings and non-UK residents with UK dwellings
CGT鈥擯PR relief for UK residents with overseas dwellings and non-UK residents with UK dwellingsPrincipal private residence relief (PPR relief) exempts...
When can a mistake in an executed deed be rectified by a manuscript amendment rather than by a deed of rectification?
Calculating the IHT charge on death
Calculating the IHT charge on deathThis Practice Note outlines how to calculate the amount of inheritance tax (IHT) that arises on an individual鈥檚...
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...
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.
The Cy-près doctrine
The Cy-pr猫s doctrineFORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and will be implemented on a...
Perpetuities and accumulations
Perpetuities and accumulationsThe rules relating to perpetuities and accumulations stem from the common law and the provisions in the Perpetuities and...
Associated legal terms
Lasting Power of Attorney
A legal document that enables an individual (the donor) to appoint one or more people (attorneys or donees) to make decisions on their behalf in respect of either their property and financial affairs or health and welfare.
Personal bar
The rule which prevents a person from maintaining that which they previously denied or the reverse.
Self-administered
A scheme in which the assets are invested by the trustees or an external investment manager.
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