Sponsored by Wilkins Kennedy

The arrival of the Residence Nil-Rate Band (RNRB) for Inheritance Tax (IHT), on 6 April 2017, adds a huge new complexity to the challenge of Will drafting, introducing the new concept of different tax treatment on estates depending upon who benefits under the will (beyond spouses and charities).

The sheer complexity of the new legislation, making this an ever more difficult area of practice, has led some law firms to exclude liability for RNRB from their engagement letters for will preparation. However, if the details can be understood, this major development can be an important opportunity for solicitors, a great way to “add value” and show clients why they need our advice.

This 3 hour course aims to give you the key ingredients for practice, of how RNRB works and what it means for your will drafting.

What you will learn:-
• The key elements of RNRB and how it will work
• The crucial challenges for will drafting to secure the best from RNRB.
• The traps for wills and trusts and how to avoid them.
• Planning to avoid the loss of RNRB by tapering on larger estates.
• A review of will trust options, their IHT treatment and drafting issues.
• Personal chattels options, including letters of wishes and their taxation
• Nil Rate Band legacies –including NRB D/T’s now back in favour?
• Property gifts –considering the various trust alternatives and their tax consequences.
• Residuary estate options, with IPDI & 18-25 trusts, bare trusts, & discretionary residue.

The aim is to give those attending some tools to deal with new drafting required and new planning opportunities that RNRB offers to practitioners, to help deliver a better service to clients. The course will use precedents as examples, for illustration.

Cost: £126.00 inc VAT for members of Surrey Law Society, £252.00 inc VAT for non-members. Please note that there is a small, additional charge for booking with a credit card via Eventbrite.

Please note that this seminar will be held in the Ranmore Suite on the Ground Floor at Denbies Wine Estate, Dorking. Registration is from 1.30pm with tea and coffee. The session will commence at 2.00pm and finish at 17.15pm with a 15 minute break around 3.30pm for refreshments.

Please check our website at www.surreylawsociety.org.uk/terms for the Terms & Conditions before booking.

Speaker: John Bunker LLB. CTA TEP is a freelance lecturer, solicitor and chartered tax advisor, who is also Head of Private Client Knowledge Management of Irwin Mitchell LLP. Alongside this role responsible for technical development and training, to which he moved in 2012 after 23 years as a partner, specialising in wills, trusts, estate and tax planning, he has developed his external training work in a freelance capacity.

John brings his enthusiasm for his subject, where he seeks to illuminate technical details with practical insight, to training for CLT, MBL, SJ Live, individual firms, local law societies, branches of STEP, SFE and other professional groups. He serves on the Chartered Institute of Taxation’s Succession Taxes Sub-Committee and HMRC’s Capital Taxes Liaison Group.

FAQs

Where can I contact the organiser with any questions?

sueseakens@surreylawsociety.org.uk

What if I do not wish to pay online by credit card?

To pay by cheque or BACS please contact admin@surreylawsociety.org.uk