Estate Planning Before Will Drafting - Key Considerations

Introduction

Effective estate planning starts well before a will is drafted. Understanding the client’s family structure, relationships, wishes and concerns, alongside their assets and liabilities, is essential to developing an estate plan that genuinely reflects their circumstances and objectives.

Taking this wider picture into account can uncover valuable planning opportunities for the future, including ways to structure an estate more effectively, mitigate tax where appropriate and protect assets.

A carefully considered will can then be prepared to meet the client’s wishes while supporting tax-efficient planning and appropriate asset protection. You must also be alert to potential vulnerabilities, capacity concerns and undue influence, helping to safeguard the testator’s intentions while reducing the risk of future claims or challenges to the will.

This webinar will provide a practical framework for taking a holistic approach to estate planning and will drafting, helping you to identify the key issues to consider before putting the will in place.

What You Will Learn

The webinar will cover the following:

• The key estate planning questions to ask, together with practical opportunities for reducing tax
• The different will options available and how to identify the most appropriate approach for each client
• The benefits and practical use of life interest trusts and discretionary trusts in wills
• Whether the nil rate band discretionary trust will still has a role to play in modern estate planning
• Practical steps for protecting yourself against claims, including challenges to the will and estate