- Intermediate/Introductory *10 hours CPD
This is a structured two day course designed for those practitioners wishing to gain a good practical grounding in this field. It is suitable for trainees and newly qualified solicitors who have had little or no grounding at the academic stage, for those returning after a career break and those wishing to change specialisms.
- Good overview of steps in an administration
- Personal Representatives: - different types, their duties and authority and options available
- The initial interview: Who is my client? What is my general duty to my client?
- Taking instructions: information required, immediate practicalities to address
- Setting up the file; Initial letters; organising and managing the file
- Obtaining information about the estate and ascertaining beneficial entitlement
- Property passing outside the Will or intestacy - "jointly owned property"
- Is there a "Will?" Is it the last Will? Are the clauses valid? Is it admissible to probate?
- Entitlement on intestacy
- Preparing the papers to lead to the grant: Responsibilities of Personal Representatives; Form IHT 200, calculation and payment of IHT, and raising funds to meet IHT liability
- Completion of Oath for common form Grants: Probate, Letters of Administration with the Will annexed and Letters of Administration
- Other evidence: affidavits of due execution, plight and condition and identity
- Administering the estate: collecting in assets, paying debts and legacies, settling deceased's tax liability to date of death
- Tax during the administrative of estate: PRs liability, payments to beneficiaries during the administration and disposals during administration
- Finalising IHT, corrective accounts and obtaining Clearance Certificate
- Finalising the administration: Estate and Distribution Accounts, Transfer to beneficiary entitled
- Inheritance (Provision for Family and Dependants) Act claims
- Post mortem tax planning - variations and disclaimers, examples of uses, traps for the unwary and the duty to advise (Cancer Research v Ernest Brown)