Trusts, Wills & Estates

Wealth, Health and Inheritance Briefing – August 2014

Welcome to the August edition of our Wealth, Health & Inheritance Briefing for advisers and tax specialists who advise on wealth management and personal tax planning.

Trusts are in the news at the moment, with the HMRC consultation to simplify their taxation. The proposed single ‘settlement nil rate band’ to be shared between multiple trusts will potentially affect a number of clients, so we explain the proposals and highlight their practical effect in our article on page 5. If these proposals are introduced good trust management will be essential and you can read more about our trust administration team on page 6.

We also look at:

  • transferring part ownership of a property to minimise IHT;
  • gift giving by Deputies and the more creative approach being taken by the Court of Protection; and
  • the freedom to dispose of an estate as you wish and the impact on Sharia wills.

Feedback on this newsletter is welcome, so if there is anything you would like us to cover, please let us know.

If we can help you advise your clients in connection with these or any other matters, please do not hesitate to contact a member of the private client team.

Anthony Fairweather

Wealth, Health and Inheritance Briefing – August 2014