- *Advanced/Update/Intermediate
Recent reports from PI insurers rate this area in the top five practice areas from which the most claims emanate. Common problems relate to defective wills, either not giving effect to the testator’s wishes or including schemes which fail to mitigate tax, execution errors, claims from disappointed beneficiaries and maladministration of estates. This course looks at how controls can be put in place to prevent these claims from arising.
Will preparation
- *The duty of care: Nature, growth of and existing limits, standard of competence
- Features of current law: Illustration of the areas of risk and the principal judicial decisions, interaction with I(PFD)A, rectification and capacity issues, foreign property
- Practice: Practical review of areas of risk, possible controls
Estate Administration
- *Powers and duties of PRs: Statutory powers and express powers, duties and exoneration provisions; fees
- Tax: Payment, incidence, interest and penalties, variations, advice and conflicts
- Assets: Duty of care, management, advice and realisation
- Litigation: Role and impartiality, costs risks
- Beneficiaries: Identification, consultation, distributions