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Varying the Disposition of an Estate After Death 2nd ed


ISBN13: 9781784462291
Previous Edition ISBN: 9781784461416
Published: May 2024
Publisher: Law Society Publishing
Country of Publication: UK
Format: Paperback
Price: £75.00



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This book provides invaluable help to those advising clients about the opportunities, implications and pitfalls of varying the disposition of estates using variations and disclaimers. Altered personal circumstances or legislative changes, often mean that the way in which property has been left on death is unsatisfactory and can be improved.

Inheritance tax, capital gains tax, income tax, stamp duty, trusts and their implications are fully considered. The book explains the alternative provisions available (IHTA 1984, s.142, s.143 and s.144); the requirements and formalities; what can be achieved by each section of the Act and what could cause potential problems.

The second edition has been fully updated to include:

  • The Trust Register and the treatment of trusts created by variation
  • The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2021 and the Charities Act 2022
  • Latest case law
  • Changes to the CGT manual
  • A new chapter on rectification of defective wills
  • A full suite of precedents for deeds of variation and related issues

Subjects:
Wills and Probate
Contents:
Part 1: Introduction
Why do statutory provisions dealing with post-death alteration of dispositions exist?

Part 2: Variations and Disclaimers
Difference between a disclaimer and a variation; Variations and inheritance tax; Disclaimers and inheritance tax; Variations, disclaimers and capital gains tax; Variations, disclaimers and income tax; Variations, disclaimers and stamp duties; Variations and disclaimers in action; When it all goes wrong: curing mistakes

Part 3: Compliance with testator’s request and orders under inheritance (Provision for family and dependants) Act 1975
Compliance with testator’s request; Orders under Inheritance (Provision for Family and Dependants) Act 1975

Part 4: Property leaving a relevant property trust within two years of death
Inheritance tax implications; Capital gains tax implications; Some examples of s.144 in action

Appendices