Saving IHT by Variations & Disclaimers - An Introduction for Probate Lawyers
Whilst deeds of variation may not be as common as they once were since the introduction of the transferable nil rate band, there are still situations where they can be used to save IHT and rearrange the beneficial interests of beneficiaries if what has happened under the will or intestacy is not appropriate for family circumstances.
This new introductory level half day course will explore the options available.
What You Will Learn
This course will cover the following:
- The difference between variations and disclaimers
- The effect of s 142 of the Inheritance Act 1975 and s 62 of the Taxation of Chargeable Gains Act 1992
- Elections and the changes made by the Finance Act 2002
- The uses of variations and disclaimers after the introduction of the transferable nil rate band in connection with:
- BPR and APR
- Spouse exemption
- Generation skipping
- The family home
- Joint tenancies
- Income tax
- Stamp taxes
- Two year discretionary trusts
- Precatory trusts
- Pitfalls and traps
Please let us know if you wish to be notified.
Please let us know if you wish to be notified when new dates are added for this programme