Wills: A Practical Guide

Author:   Lesley King ,  Peter Gausden
Publisher:   Wildy, Simmonds and Hill Publishing
Edition:   2nd Revised edition
ISBN:  

9780854902743


Pages:   312
Publication Date:   16 September 2019
Format:   Paperback
Availability:   In Print   Availability explained
This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us.

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Wills: A Practical Guide


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Author:   Lesley King ,  Peter Gausden
Publisher:   Wildy, Simmonds and Hill Publishing
Imprint:   Wildy, Simmonds and Hill Publishing
Edition:   2nd Revised edition
Weight:   0.380kg
ISBN:  

9780854902743


ISBN 10:   0854902740
Pages:   312
Publication Date:   16 September 2019
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   In Print   Availability explained
This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us.

Table of Contents

Preface 1 WILLS AND OTHER DEATH DISPOSITIONS 1.1 Why make a will? 1.2 What wills can give away 1.3 What wills cannot give away 1.4 Intestacy 2 RESTRICTIONS ON TESTAMENTARY FREEDOM 2.1 Introduction 2.2 Inheritance (Provision for Family and Dependants) Act 1975 2.3 Mutual wills 2.4 Contract to leave property by will 2.5 Proprietary estoppel 3 TESTAMENTARY CAPACITY AND INTENTION 3.1 Introduction 3.2 Testator's age and physical capacity 3.3 Testator's mental capacity 3.4 Testator's intention 3.5 Practical issues for the practitioner preparing the will 4 REQUIREMENTS FOR VALID EXECUTION 4.1 Introduction 4.2 A simple recipe for getting it right 4.3 Formalities in section 9 of the Wills Act 1837 4.4 Practicalities of execution 4.5 Codicils 4.6 Wills made outside England and Wales and section in 1 of the Wills Act 1963 4.7 Wills not subject to section 9 of the Wills Act 1837 5 REVOCATION OF WILLS 5.1 Freedom to revoke wills 5.2 Methods of revocation 5.3 Revocation by a later will or codicil 5.4 Revocation by destruction 5.5 Revocation by subsequent marriage or formation of a civil partnership 5.6 Effect of divorce and dissolution 5.7 Conditional revocation 5.8 Revocation and privileged wills 6 ALTERATION TO WILLS AND USE OF CODICILS 6.1 Alterations made before execution 6.2 Alterations made after execution 6.3 Use of codicils 7 CONSTRUCTION AND INTERPRETATION OF WILLS 7.1 Introduction 7.2 General principles of construction 7.3 Applying basic rules of construction 7.4 Using extrinsic evidence as an aid to construction 7.5 From which date does a will speak? 7.6 Omitting, changing and supplying words 7.7 Class gifts and the class closing rules 7.8 Defining children and other relatives 8 WHY GIFTS IN WILLS MIGHT FAIL 8.1 Reasons for failure 8.2 Disclaimer 8.3 Ademption 8.4 Lapse 8.5 Forfeiture 8.6 Beneficiary witnesses will 8.7 Uncertainty 8.8 Contrary to public policy 8.9 Gift induced by force, fear or undue influence 8.10 Doctrine of satisfaction 8.11 Abatement 9 WILLS DEALING WITH PROPERTY ABROAD 9.1 Problems caused by owning foreign property 9.2 Forced heirship 9.3 Community of property 9.4 The EU Succession Regulation 9.5 How many wills? 9.6 Helping clients to deal with local lawyers 10 LOCATING AND STORING WILLS 10.1 Storing wills 10.2 Locating lost wills 10.3 Obtaining probate in absence of the original will 11 APPOINTMENT OF EXECUTORS AND TRUSTEES 11.1 Why appoint executors? 11.2 Executors distinguished from administrators 11.3 Drafting the executor's appointment 11.4 Who can be appointed? 11.5 Remuneration of executors 11.6 How many executors? 11.7 Executors as trustees 11.8 Limited and special appointments 11.9 Conditional, substitute and alternative appointments 11.10 Failure of appointment - divorce/annulment, renunciation and uncertainty 11.11 Protecting executors and trustees 11.12 Some other issues relating to executors 12 APPOINTMENT OF TESTAMENTARY GUARDIANS 12.1 Introduction 12.2 Who can appoint a testamentary guardian? 12.3 Requirements for a valid appointment 12.4 When does an appointment take effect? 12.5 Consequences for the guardian 12.6 Funding for guardians and trust funds 13 LEGACIES 13.1 A word on terminology 13.2 Types of non-residuary legacy 13.3 Methods of making gifts 13.4 Particular recipients 13.5 Subject matter of legacies 13.6 Relieving provisions and other qualifications attached to gifts 14 DEALING WITH THE HOME AND LAND 14.1 Initial considerations before advising the testator 14.2 Points relevant to all testamentary gifts of land 14.3 Choices for the testator 15 RESIDUARY GIFTS INCLUDING RESIDUARY TRUSTS 15.1 Need for an effective gift of residue 15.2 Value of residue uncertain 15.3 Calls on residue 15.4 Is a trust of residue always necessary? 15.5 Residuary provision 16 IMPORTANCE OF INHERITANCE TAX 16.1 Importance of inheritance tax 16.2 Death estate 16.3 Exemptions and reliefs 16.4 The rate of tax 16.5 Transferable nil rate band 16.6 Residence nil rate band 17 PLANNING A TAX-EFFICIENT WILL 17.1 Introduction 17.2 Using trusts 17.3 Making best use of the residence nil rate band 18 POWERS TO DEAL WITH INCOME AND CAPITAL 18.1 Power to apply income - section 31 of the Trustee Act 1925 18.2 Power to advance capital - section 32 of the Trustee Act 1925 19 ADMINISTRATIVE POWERS FOR PERSONAL REPRESENTATIVES AND TRUSTEES 19.1 Introduction 19.2 STEP standard provisions 19.3 Legacies to minors 19.4 Power to invest 19.5 Power to acquire land 19.6 Power to act though personally interested and to buy trust property ('self-dealing') 19.7 Appropriation of assets 19.8 Power to charge 19.9 Retention of directors' remuneration 19.10 Power to employ agents 19.11 Appointment of new trustees 19.12 Power to act on counsel's opinion 19.13 Indemnity clauses 19.14 Insurance 19.15 Power to carry on a business 19.16 Power to borrow 19.17 Exclusion of the apportionment rules 19.18 Trusts of Land and Appointment of Trustees Act 1996 20 FUNERAL AND OTHER REQUESTS 20.1 Funeral arrangements 20.2 Donation of the body and body parts 21 PRACTICAL ISSUES WHEN TAKING INSTRUCTIONS AND AT EXECUTION 21.1 Preliminary matters 21.2 Terms of the will 21.3 Executing wills 22 TIPS ON AVOIDING DRAFITING PITFALLS 22.1 Failing to make provision for an event 22.2 Internal inconsistencies 22.3 Ignorance of a legal rule APPENDICES 1 A Family Will 2 Intestacy Rules 3 Planning a Tax-efficient Will - Case Studies Index

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