Making Gifts of Assets - A 1 Hour Guide for Conveyancers
It is not uncommon for clients to tell you that they wish to make a gift of the family home or other assets to children, spouses, or cohabitees.
You need to ask why they want to do so as the reasons given may well be to defeat any State claims to assets as a result of cost of social care.
Naturally, you do not want to be implicated in any accusations of fraudulent intent or conspiracy. Always keep an eye on your retainer limits, your role and risk assessment. The subject is often made harder by a client’s unreasonable expectations and spurious advice elsewhere.
What You Will Learn
This webinar will cover the following:
- Anti-avoidance - where the client seeks to prevent Local Authorities enforcing re-imbursement of social care costs
- The question of ‘capacity’ of the donor and assessing this. Avoiding undue influence - James v James
- Tax considerations - Capital Gains Tax, Inheritance Tax, SDLT
- The relationship between donor and donee, multiple donees, trusts, joint donors. Setting aside a gift on grounds of mistake and the effect of insolvency - Deansgate 123 LLP v Workman & Anor
- The nature and extent of the property, benefits and risks and how to advise the donor, capacity, objectives, their reasons and understanding - undue influence
- A review of the Law Society Guide ‘Making Gifts of Assets’
- Conflict of interest, questions to ask of a new client, negligence and money laundering, retaining the file. Who are you advising? Paull v Paull
- Is it a gift or a loan? Gill & Anor v Brar & Anor. Gifts by estoppel - Culliford v Thorpe
- The position of Deputies under Court of Protection making a gift - PBC v JMA (by Official Solicitor)
This pre-recorded webinar will be streamed at 12:30pm on Wednesday 17th July 2019 and will remain available to view by delegates who have registered by then for 90 days.