About Private Client Law
When Private Clients ask questions, they expect answers - right away. But when you’re working across so many different areas of the subject day to day, it’s impossible to hold it all in your head. In addition finding the answer often means cross-referencing several different sources – from the latest legislation to the Law Society’s most up-to-date guidance.
Will Precedents
Precedents covering the most common scenarios in this area. Drafting notes accompany each clause - incorporating the latest developments like Will drafting considerations for inheritance tax residence nil rate band.
Court of Protection
Our Court of Protection topic covers both property and finance, and health and welfare Court of Protection applications. It’s geared at both the Court of Protection specialist practitioner and the occasional user.
Trust compliance
Topics include beneficial ownership transparency, the Money Laundering Regulations, the Trust Registration Service, obligations relating to data protection and GDPR and offences under the Bribery Act 2010.
Cross-referencing sources
When private clients ask questions, they expect answers quickly. But, working across lots of areas day to day, it’s impossible to hold it all in your head. We’ll help you cross-referencing several different sources.
Topics We Cover
Latest Private Client News
Private Client analysis: A corporate settlor may be secondarily liable for an inheritance tax (IHT) periodic charge under section 201(1)(d) of the...
Tax analysis: In Sir John Griffin v HMRC, the First-tier Tax Tribunal (FTT) held that the taxpayer’s Irish domicile of origin had been replaced by...
This week’s edition of Private Client highlights includes: (1) the Office of the Public Guardian has updated its guidance on family care payments; (2)...
This Q&A considers, if an intestate estate is being divided between two sisters, X and Y. X does not have capacity and has appointed attorneys under a...
HMRC has updated its payment guidance for Stamp Duty Reserve Tax, Landfill Tax and Climate Change Levy to explain the consequences of using an...
Latest Private Client Practice Notes
Individual savings accounts (ISAs) are tax-free funds in which UK residents can hold a range of different investments. Originally, these were cash or...
An offshore trust is a trust with non-UK resident trustees. The liability of trustees of an offshore trust to UK inheritance tax (IHT) is not...
Initial pointsThe rules relating to audit and accounting are subject to modification over time. Readers may also refer to Practice Note: Charity...
Total intestacyA total intestacy occurs when all of the deceased's property is undisposed of because:•the deceased did not make a Will•the deceased...
The Acceptance in Lieu (AiL) scheme allows those who are liable to UK inheritance tax (IHT) to apply to settle the tax by offering heritage property...
Latest Private Client Precedents
This guide provides general information about variations made after a person’s death for non-professional personal representatives and bereaved family...
<section><section><p>I, [<em>insert name (and any other name the testator is commonly</em></p></section></section>
GENERAL INFORMATIONClientSpouse/civil partner/unmarried partnerNameAddressTelephone numberMobile numberEmail addressDOBMarital...
AS WITNESS my hand this ............ day of .................................... 20......SIGNED by [full name...
If [insert the full name and description of the disabled person who is the object of the trust, eg my son Joe] of [insert full address of disabled...
Latest Private Client Q&As
Featured Private Client content
Nature and classification of trusts—the three certainties
Nature and classification of trusts—the three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...
Protectors
ProtectorsWhat is a protector?A protector is a person who holds powers under a trust but who is not a trustee. A protector is a person who is...
Preparing the application form PA1P/PA1A for probate or letters of administration
Preparing the application form PA1P/PA1A for probate or letters of administrationFORTHCOMING CHANGE: The postal application forms PA1P and PA1A for...
Administration actions—personal representatives and the deceased's liabilities
Administration actions—personal representatives and the deceased's liabilitiesAn individual may assume obligations, for example in respect of...
Loan agreement—individuals
Loan agreement—individualsDATE:Parties1[[name] of [address] [and [name] of [address]] OR [name] and [name] both of [address]] (Lender[s])2[[name] of...
The Cy-près doctrine
The Cy-près doctrineFORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and will be implemented on a...
Trustees—appointment of trustees
Trustees—appointment of trusteesOriginal trusteesTrustees will usually be appointed by the instrument that brings the trust into existence. The trust...
Death in service benefits
Death in service benefitsOverview of the types of death in service benefits and their tax treatmentThere are three types of death in service...
Assent of assets by personal representatives
Assent of assets by personal representativesPersonal representatives (PRs) can transfer assets to beneficiaries in any way that would also be...
A trust holds the beneficial ownership of shares in a company of which one trustee is a director. Of the three beneficiaries, two are adults and there is a declaration of trust in respect of the shares held for them. The other is a minor and there is a separate declaration of trust for him. What would or should happen to the company shares on the death of a beneficiary? Neither declaration of trust deals with this issue.
Intermeddling in an estate
Intermeddling in an estateWhat is intermeddling?An individual who performs certain duties which a personal representative (PR) would perform to...
Termination of trusts—methods of termination
Termination of trusts—methods of terminationDuration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules...
Trusts as a vehicle for holding company shares
Trusts as a vehicle for holding company sharesIntroductionMany trusts own shares as part of a portfolio of investments. This Practice Note looks at...
Benevolent funds
Benevolent fundsFORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and will be implemented on a staggered...
Creation of trusts—life insurance trusts
Creation of trusts—life insurance trustsDefining life insurance trustsA life insurance trust usually involves either:•an assignment of an insurance...
Lifetime gifts
Lifetime giftsA lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In...
Source of income (and private client)
Source of income (and private client)When advising an individual on cross-border or offshore tax planning, it is important to establish the 'source'...
Liferent trusts—Scotland
Liferent trusts—ScotlandLiferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both,...
Associated legal terms
General bequest
A general bequest is a gift in a will described by amount or type, not by a particular asset, and is payable out of the testator’s general estate. Common examples are pecuniary legacies (e.g., “£10,000 to A”) or a quantity of fungible property (e.g., “100 shares in XYZ plc” without identifying specific certificates). It contrasts with a specific bequest (a particular identified asset) and a demonstrative bequest (a gift payable primarily from a specified fund).
In practice, a general bequest does not adeem by extinction if the testator no longer owns any item mentioned generically; the personal representatives must satisfy it from available estate assets. On a shortfall, general bequests are subject to abatement and will yield before specific legacies. Interest on pecuniary legacies typically runs from the end of the executor’s year unless the will provides otherwise.
The expression is not defined by statute; its features derive from case law and long-established probate practice. Usage is broadly consistent across England and Wales, Scotland, Northern Ireland and Ireland, though Scots law more often uses “legacy” and applies the concept to moveable estate within its succession rules.
Inheritance Act claim
A claim brought under the Inheritance (Provision for Family and Dependants) Act 1975 (I(PFD)A 1975) which enables certain categories of people, who were financially dependant on the deceased, to bring a claim against their estate for reasonable financial provision. The deceased must have been domiciled in England and Wales when they died. An Inheritance Act claim may also be referred to as a 1975 Act claim or a Family provision claim.
Testamentary power of appointment
A testamentary power of appointment is a power, usually created by a trust or will, letting a named person (the donee) decide by will who takes specified property and in what shares on death. Powers are either general (appointable to anyone, including the donee’s estate) or special/limited (appointable only among a defined class (objects)). The power can be exercised only by will; any lifetime attempt is ineffective. If it is not exercised, the property passes to the takers in default named by the donor, or on resulting trust.
Such powers are common in will trusts, life interests and family settlements, preserving flexibility over the ultimate destination of trust assets. Formalities and construction derive from general wills and trust law rather than a codifying statute: in England and Wales and Northern Ireland, a sufficiently general residuary gift may operate to exercise a general testamentary power unless a contrary intention appears; similar principles apply in Scotland and Ireland. Appointments must comply with any stated conditions and with the fraud on a power doctrine. For UK tax, property subject to a general testamentary power is usually treated as part of the donee’s estate for inheritance tax; special powers are not.
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