Probate Practitioner's Handbook

Description

The Probate Practitioner's Handbook is a well-established and popular guide to good practice for solicitors' firms that undertake probate and estate administration work.This new eighth edition has been comprehensively updated by leading experts to take account of developments relating to: money laundering issues including the requirements of the fourth EU Directive on Money Laundering and the new Trusts Registration Service probate disputes and Inheritance Act claims including the implications of the Supreme Court decision in Ilott v. The Blue Cross and Others inheritance tax including implications of the new residence nil rate band for those administering estates the new Guardianship (Missing Persons) Act 2017 and the procedure for declarations of death under the Presumption of Death Act 2013 proposed changes to probate fees.New chapters have been written to cover two increasingly important areas: the obligations of personal representatives in relation to digital assets dealing with foreign assets, domicile and residence issues.Features such as checklists, precedents, case commentaries and examples enhance the book's usefulness.

Sujets

• Droit et juridique
• Inglaterra
• Succession
• Wales
• England

Informations

• Publié par: Law Society
• Date de parution: 13 avril 2018
• Nombre de lectures: 0
• EAN13: 9781784461195
• Langue: English

Extrait

Probate Practitioner’s Handbook
EIGHTH EDITION
 

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Lasting Powers of Attorney (3rd edn)
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Trust Practitioner’s Handbook (4th edn)
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Titles from Law Society Publishing can be ordered from all good bookshops or direct (telephone [phone], email [e-mail] or visit our online shop at bookshop.lawsociety.org.uk ).
PROBATE PRACTITIONER’S HANDBOOK

EIGHTH EDITION

 

General Editor: Lesley King
 

 

 

 
 

All rights reserved. No part of this publication may be reproduced in any material form, whether by photocopying, scanning, downloading onto computer or otherwise without the written permission of the Law Society except in accordance with the provisions of the Copyright, Designs and Patents Act 1988. Applications should be addressed in the first instance, in writing, to Law Society Publishing. Any unauthorised or restricted act in relation to this publication may result in civil proceedings and/or criminal prosecution.

The authors have asserted the right under the Copyright, Designs and Patents Act 1988 to be identified as authors of this work.

Whilst all reasonable care has been taken in the preparation of this publication, neither the publisher nor the authors can accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of relying upon its contents.

The views expressed in this publication should be taken as those of the authors only unless it is specifically indicated that the Law Society has given its endorsement.

© Law Society 2018

Crown copyright material is reproduced with the permission of the Controller of Her Majesty’s Stationery Office
Material in Appendix E © 2014 Simon Taube QC

ISBN-13: 978-1-78446-099-0 (paperback)
ISBN-13: 978-1-78446-119-5 (EPUB)

First published in 1991
2nd edition 1995
3rd edition 1999
4th edition 2003
5th edition 2006
6th edition 2010
7th edition 2015

This eighth edition published in 2018 by the Law Society
113 Chancery Lane, London WC2A 1PL

Typeset by Columns Design XML Ltd, Reading
Contents
Preface
Notes on contributors
Table of cases
Table of statutes
Table of statutory instruments
Table of international instruments
Abbreviations
PART I:    PROBATE AND THE PROFESSIONAL RULES
1    Wills and Inheritance Protocol
Lesley King
1.1  Creation of the Protocol
1.2  Structure of the Protocol
1.3  General obligations
1.4  Will drafting obligations
1.5  General estate administration obligations
1.6  Continuing settlements
1.7  Post-death variations
1.8  Inheritance Act claims
2    Taking instructions
Ian Bond
2.1  Regulation and good practice on taking instructions
2.2  Authority to instruct and validity of the will
2.3  Who is the client?
2.4  Vulnerable clients
2.5  Clients and beneficiaries who may lack mental capacity
2.6  Equality Act 2010
2.7  Conflicts and disputes
2.8  Solicitor executors/trustees
2.9  Cancellation of contracts/consumer contracts
3    Client care
Ian Bond
3.1  Regulatory framework
3.2  Practice management
3.3  Protocol, Practice Notes and client literature
3.4  Client care letters
3.5  Communication with beneficiaries
3.6  Client care during the matter
3.7  Client care at the end of a matter
4    Non-contentious costs
Ian Bond
4.1  Legal framework for costs
4.2  Costs in the SRA Code of Conduct 2011
4.3  Costs in the WIQS Core Practice Management Standards
4.4  Costs in the Law Society Wills and Inheritance Protocol
4.5  Basis of charging
4.6  Guidance on solicitors’ charges
4.7  Future revision of pay rates
4.8  Lien for unpaid costs
4.9  Costs for heir locators
4.10  Personal representatives separately represented
4.11  Non-contentious business agreements
4.12  Explaining costs
4.13  Estimates
4.14  Charging clauses
4.15  Consequences of failing to advise about costs correctly
4.16  Billing
4.17  Recovering costs on solicitor’s termination of retainer
4.18  Proposals for the future publicising of costs information
4.19  Further advice on costs
5    Complaints
Ian Bond
5.1  Identifying complaints
5.2  Regulatory requirements about complaints
5.3  Good practice in complaints handling
5.4  Complaints dealt with by the Legal Ombudsman
5.5  Complaints handling
6    Financial services and money laundering
Peter Camp
6.1  Financial Services and Markets Act 2000
6.2  Anti-money laundering
7    SRA Accounts Rules 2011
Lesley King
7.1  Introduction
7.2  An outline of the Rules
7.3  Use of client account
7.4  Record-keeping requirements (rule 29)
7.5  Rules on interest (rules 22–25)
7.6  Accountants’ reports
7.7  Role of compliance officer for finance and administration (COFA)
7.8  Probate work and the Rules
7.9  Proposed changes to the Rules
PART II:    PROBATE, WILLS AND THE LAW
8    The law on wills and succession: a review
Lesley King
8.1  Introduction
8.2  Is the will valid?
8.3  Has a document been incorporated?
8.4  Are two wills mutual?
8.5  Types of legacy
8.6  Is interest payable?
8.7  Provision on intestacy
8.8  Joint property
8.9  Relevant statutes
8.10  Appointment and removal of trustees and personal representatives
8.11  Powers and duties of executors and trustees
8.12  Lifetime gifts and undue influence
8.13  Artist’s Resale Right Regulations 2006
8.14  Statutory order for payment of debts
9    Revocation and revival of wills
Alexander Learmonth
9.1  Introduction
9.2  Revocation by deed or subsequent will
9.3  Revocation by destruction
9.4  Revocation by obliteration or alteration
9.5  Revocation by marriage or civil partnership
9.6  Partial revocation by divorce, dissolution or annulment
9.7  Conditional revocation
9.8  Revival of wills
9.9  Further reading
10    Interpretation and rectification of wills
Alexander Learmonth
10.1  Introduction
10.2  Collecting and considering the evidence
10.3  Evidence admissible as an aid to construction
10.4  General approach to construction of wills
10.5  Particular principles of construction
10.6  Rectification of wills
10.7  Further reading
11    Time for probate
Claire Cutts and Gillian Cockburn
11.1  Importance of time limits
11.2  Cancellation of contracts
11.3  Communication
11.4  Obtaining the grant
11.5  Rectification of the will
11.6  Family provision claims
11.7  Interest and legacies
11.8  Advertising for creditors
11.9  Intestacy
11.10  Inheritance tax
11.11  Capital gains tax
11.12  Income tax
11.13  Changes to time limits for assessments and claims
11.14  Other time limits for practices with WIQS accreditation
12    Appointing guardians of children
David Hodson and Gillian Cockburn
12.1  Introduction
12.2  Who may appoint a guardian?
12.3  Appointment of a guardian
13    Probate and benefits
Meg Andrews
13.1  Introduction
13.2  Funeral costs
13.3  Bereavement
13.4  Orphans
13.5  Incapacitated dependants
13.6  Other benefits
13.7  Other sources of help
14    Claims under the Inheritance (Provision for Family and Dependants) Act 1975
Natasha Stourton
14.1  The court’s approach to claims
14.2  Advising the testator
14.3  Advising the personal representatives
15    Contentious probate
Henry Frydenson
15.1  Introduction
15.2  Identification of issues
15.3  Methods of attack
15.4  Practitioner’s tools
15.5  Types of probate action
15.6  CPR, Part 57
PART III:    PRACTICAL PROBATE
16    Inheritance tax
Lesley King
16.1  HMRC guidance
16.2  Basic principles of IHT
16.3  Inheritance tax rates
16.4  Transferable nil rate band
16.5  The residence nil rate band
16.6  Reduced rate of inheritance tax
16.7  Accounting for inheritance tax
16.8  Where an estate is not excepted
16.9  Calculation of tax and interest
16.10  Establishing the value of the estate
16.11  The rules on penalties
16.12  Death of a beneficiary with a qualifying interest in possession: approved standard letter
16.13  Paying IHT
16.14  Funding IHT
16.15  Foreign assets
17    Varying the disposition of an estate
Lesley King
17.1  The statutory provisions
17.2  Disclaimers and post-death variations
17.3  Property ceasing to be part of a relevant property settlement
17.4  Combining the statutory provisions
18    Probate problems
Lesley King
18.1  Missing wills
18.2  Missing beneficiaries
18.3  Deceased with no known relatives
18.4  Unclaimed client account money
18.5  PRs and personal liability
18.6  PRs’ liability for tax
18.7  Banking protocols
18.8  Extracting a grant for those not authorised to do so
18.9  Insolvent estates
18.10  Deceased Lloyd’s Names
18.11  Bankrupt beneficiaries
18.12  Unsuitable PRs
18.13  Presumption of death
18.14  Funerals
18.15  Proposals to increase probate fees
18.16  Problems from clients
18.17  International requirements to report information on trusts
18.18  FATCA
18.19  Common Reporting Standard
18.20  Trusts Registration Service
18.21  Sources of help
18.22  Parting company
18.23  Non-Contentious Probate Rules review and online applications for probate
19    Digital assets
Ian Bond
19.1  Background
19.2  What exactly does the term ‘digital assets’ mean?
19.3  Value
19.4  Initial instructions
19.5  Duty to investigate?
19.6  What can be gifted under a will?
19.7  Security issues
19.8  Personal representatives and access rights
19.9  The circumnavigation of the need to obtain probate
19.10  Cryptocurrencies
20    Dealing with foreign assets a