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Simon Gore Consulting Ltd

8 Upper Street, Oakley, Diss, IP21 4AX


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Registration Hotline 01379 740619

Trusted since 2002 to deliver affordable, timely and reliable legal training

This webinar is useful for -

Trust litigators

Contentious Probate Lawyers

Estate Planners

Will Writers

Tax Consultants


Agenda

     

Creation

 

- Tax treatment of an IPDI – IHT on creation.  Often an exempt life tenant and chargeable remainder beneficiaries (e.g. life interest to spouse then remainder to children) but what about the opposite case – e.g. life interest to unmarried partner than remainder to charity?

 

- Is the life tenant content?  Does the life interest give them sufficient support?  Is there a risk of challenge from e.g. a claim under the Inheritance (Provision for Family and Dependants) Act 1975?

 

- If either of the above points suggest the life interest trust is not the best route, how can it be altered?  A post-death variation, trust partition or disclaimer?  What are the different tax implications of each?

 

- Will the trust need to be registered?

 

Ongoing issues during trust's existence

 

- Is the life tenant also a trustee?  Issues with self-dealing and problems on loss of capacity.

 

- Income tax treatment while in existence (potential tax reclaim and impact of mandating income)

 

- Capital distributions, either advances to life tenant or potentially exercising an overriding power of appointment to pass capital to another beneficiary.  IHT and CGT impact.

 

- Investment policy

 

- Trust expenses – income or capital?

 

End of trust (either life tenant's death or advance/appointment of all capital

 

- IHT/CGT position

 

Contentious issues


- Is a life interest or shorter-term IIP going to satisfy a surviving spouse, or risk a 1975 Act claim?


- When is a life interest or shorter-term IIP a good solution to a 1975 Act claim, either by spouses or by other classes of applicant?
















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Registration Form

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Tips & Traps in Administering an interest in possession trust

Revised date - Webinar - Tuesday 8th June, 12.30 - 2pm

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Presented by

Tim Fullerlove, Partner, Wilsons Solicitors LLP

Link to online profile

Imogen Lea, Consultant, Wilsons Solicitors LLP

Link to online profile

Alexander Learmonth QC, New Square Chambers

Link to online profile


What happens after your register?

After completing the registration form, we will email you a confirmation invoice and upon payment an access link will be sent giving permission to join the meeting.

Payment can be either by bacs (details printed on the invoice or call with a credit card and your invoice number)

Follow up emails will be sent with notes/slides before the event and then a final email to access the event recording.

Which online platform?

We currently use Zoom to host all our online events.