Parker’s Will Precedents

Description

Parker's Will Precedents provides private client solicitors and professional will draftsmen with a thorough understanding and working knowledge of the will drafting process and, as a result, the ability to draft better wills. Downloadable Precedents Preface Table of Statutes Table of Statutory Instruments Table of Cases Chapter 1 Introduction 1.4 Drafting 1.9 Precedents Chapter 2 General Considerations 2.2 The intestacy rules 2.8 Joint property 2.14 Contentious probate claims 2.31 Claims under the Inheritance (Provision for Family and Dependants) Act 1975 2.44 Donatio mortis causa 2.45 Foreign issues 2.46 Changing circumstances 2.56 Binding of Wills Chapter 3 Taking Instructions 3.2 Protocols and codes of practice 3.5 Arrangements for taking instructions 3.14 Urgent Wills 3.15 Taking instructions 3.23 Other matters 3.25 Checklist Chapter 4 Opening and Revocation 4.2 Identity of the testator 4.11 Precedents Chapter 5 Joint, Mutual and Reciprocal (‘Mirror’) Wills 5.2 Joint Wills 5.3 Reciprocal/mirror Wills 5.4 Mutual Wills 5.11 Precedents Chapter 6 Foreign Wills and Property 6.3 Definitions 6.4 English domicile and nationality with EU property 6.10 EU national – EU property 6.12 EU national – English property 6.15 English domicile – non-EU property 6.17 Precedents Chapter 7 Funeral Wishes 7.1 Declarations concerning funeral arrangements and disposal of the testator’s body 7.5 Expenses 7.6 Cremation 7.7 Donation of the body and organs 7.9 Precedents Chapter 8 Appointment of Executors and Trustees 8.1 Definitions 8.2 Advice to testator 8.5 Executors and trustees 8.10 Common appointments 8.11 Appointment of a beneficiary 8.14 Appointment of a friend or business acquaintance 8.16 Appointment of solicitors 8.23 Appointment of accountants 8.24 Appointment of a trust corporation 8.26 Appointment of the Public Trustee 8.27 Power to charge fees 8.32 Final points 8.33 Precedents Chapter 9 Appointment of Guardians 9.4 Appointment 9.9 Revocation 9.12 Other points 9.14 Precedents Chapter 10 Legacies 10.1 The use and type of legacies 10.5 Gifts free of inheritance tax 10.8 The priority and timing of legacies 10.11 The satisfaction of debts and the presumption against ‘double portions’ 10.12 Failure of legacies 10.14 Nil rate band legacies 10.15 Legacies to the draftsman 10.16 Legacies to executors 10.17 Precedents Chapter 11 Specific Gifts of Real Property and Rights of Occupation 11.1 Simple gifts of land 11.9 Gifts of land on trust 11.26 Precedents Chapter 12 Specific Gifts of Chattels and Other Personal Property 12.1 Need for a gift of chattels 12.3 Inheritance tax and gifts of chattels 12.4 Gifts of personal chattels 12.8 Collections 12.9 Rights of selection of chattels 12.12 Chattels subject to a charge 12.14 Releases and gifts of debts 12.15 Gifts of shares 12.17 Gifts of bank accounts 12.18 Precedents Chapter 13 Business Interests 13.2 Tax reliefs 13.16 Gift of a business interest 13.33 Trustees’ powers 13.35 Business executors 13.37 Precedents Chapter 14 Charities and Charitable Giving 14.1 Introduction 14.3 Whether a gift is charitable 14.6 Reduced rate of inheritance tax 14.12 Gifts to charity 14.22 Precedents Chapter 15 Digital Assets 15.1 Digital assets 15.5 Current rules 15.7 Practical problems concerning digital assets 15.12 Digital asset list 15.13 Gifts of digital assets 15.16 Caveat 15.17 Precedents Chapter 16 Residuary Gifts 16.4 Survivorship clause 16.30 Precedents Chapter 17 Minors 17.2 Receipt clauses 17.3 Trustee powers 17.6 Inheritance tax 17.13 Income and capital gains tax 17.17 Summary of options 17.20 Precedents Chapter 18 Disabled and Vulnerable Beneficiaries 18.2 Flexibility 18.8 Inheritance tax 18.14 Income and capital gains tax 18.18 Means tested benefits 18.24 Drafting considerations and options 18.27 Precedents Chapter 19 Powers of Trustees 19.9 Investment and management powers and duties 19.13 Power to insure 19.14 Power to borrow 19.15 Powers and duties in relation to delegation 19.30 Duty of care 19.31 Powers and duties in relation to trusts of land 19.39 Miscellaneous additional powers 19.43 STEP provisions 19.46 Precedents Chapter 20 Life Interest Trusts of Residue 20.3 Nature of the life interest 20.6 Trusteeship 20.8 Inheritance tax 20.11 Means tested benefits and care costs 20.12 A cautionary note 20.15 Precedents Chapter 21 Declarations 21.2 Intermediate income 21.3 Legitimated, illegitimate, adopted and step-children 21.5 Survivorship, lapse and accrual 21.9 Satisfaction and ademption 21.12 Precedents Chapter 22 Attestation 22.8 Witnesses 22.12 Draftsman’s duty in relation to attestation 22.20 Precedents Chapter 23 Inheritance Tax 23.3 An outline of inheritance tax 23.5 Inheritance tax on death 23.9 Inheritance tax on lifetime transfers 23.12 Settlements 23.17 Age contingent gifts 23.22 The spouse exemption 23.23 Transferable nil rate bands 23.26 Charities 23.28 The burden and allocation of inheritance tax 23.31 The foreign aspect 23.34 Anti avoidance 23.37 Precedents Chapter 24 Inheritance Tax Mitigation in Wills 24.4 Agricultural and business property 24.8 Avoiding grossing up 24.9 Transferable nil rate bands 24.14 Nil rate band gifts 24.17 Life interests and exempt beneficiaries 24.20 Gifts to charities 24.21 Short term discretionary trusts 24.24 Precedents Chapter 25 The Residence Nil Rate Band 25.4 Qualifying residential interest 25.6 Closely inherited 25.9 Transfer of unused RNRB 25.10 The taper threshold 25.11 Downsizing 25.12 Precedents Chapter 26 Complete Wills 26.6 Precedents Chapter 27 Single Adults 27.2 Precedents Chapter 28 Wills for Married Couples or Civil Partners with no Children 28.2 Precedents Chapter 29 Wills for Married Couples or Civil Partners with Children 29.1 Married couples or civil partners with children 29.12 Precedents Chapter 30 Unmarried Couples with Children 30.2 Precedents Chapter 31 Second Marriages or Civil Partnerships 31.3 Precedents Chapter 32 Wills in the Court of Protection 32.1 Introduction 32.2 The jurisdiction 32.8 Statutory Wills and codicils 32.11 Best interests in statutory Wills and codicils 32.18 Procedure 32.26 Executing the Will or codicil 32.28 Precedents Chapter 33 Variations after Death 33.8 Disclaimer 33.10 Deed of Variation 33.19 Precedents Chapter 34 Letters and Other Support Materials 34.3 Letter enclosing Wills for completion 34.4 Letter about a life interest trust 34.5 Letter about a discretionary trust 34.6 Notice of severance 34.7 Promissory note 34.8 Appointment ending a short term discretionary trust within two years of death Appendix Part 1: Attestation, Construction and Interpretation Appendix Part 2: Powers Appendix Part 3: Intestacy Rules Appendix Part 4: Inheritance Tax and Capital Gains Tax Index