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The fourth edition of this popular title provides a practical and comprehensive reference for all those concerned in drafting and interpreting wills, and in giving effect to their provisions.
The commentary is supported throughout by an extensive range of specimen clauses and model wills are provided in a separate appendix. All precedent material is included on the accompanying CD-ROM, enabling practitioners to adapt precedents for their own use.
Fully updated, A Practitioner's Guide to Wills now covers the Estates of Deceased Persons (Forfeiture Rule and Law of Succession Act) 2011, Marriage (Same Sex Couples) Act 2013, Trusts (Capital and Income) Act 2013, the EU Succession Regulations and the Inheritance and Trustees Powers Act 2014, the latter making major changes to the intestacy rules, family provision legislation and trustees’ statutory powers of maintenance and advancement.
It examines the impact of these legislative changes as well as developments in taxation affecting wills, notably the new relevant property trust regime and its impact on pilot settlements, the new residence nil rate band, the reduced rate of IHT for gifts to charity and the new rules on trusts for disabled beneficiaries.
The impact of the new residence nil rate band on planning and drafting is considered, together with the role that nil rate band gifts and discretionary trusts might still have to play in financial planning. The chapter on construction of wills has been rewritten following the Supreme Court’s decision in Marley v Rawlings and subsequent cases including Reading v Reading are considered.
The chapter on testamentary capacity has been revised in the light of developments since the Mental Capacity Act 2005 including Simon v Byford which considered the extent to which dementia affects testamentary capacity. Other recent cases discussed include the Court of Appeal decisions in Ilott v Mitson and its implications for testators who wish to exclude close family members from benefit.