Our meeting on June 24th was a well-attended affair. It was good to see six guests attending along with established members of the group.
There was a good deal of interaction amongst guests and members and the ‘members’ issues’ session was especially interesting.
A brief summary of what was covered on the day follows:
Buy to Let Trusts – an IHT planning opportunity Philip Laidlow of Gateley plc
Philip talked through an approach developed by Gateley to make BTL properties more IHT effective. Philip is to arrange for a detailed briefing paper to be made available following the meeting
IHT planning – ‘Get the structure right’ James Bland of Granite Tax
James presented a trio of IHT planning approaches – a Family Trust – A Family Investment Company and a Family Partnership suitable for wealthier clients. A detailed handout was provided to all attendees.
Contact details James@granitetax.co.uk Tel 0116 279 2623
Estate planning and Indian domicile Sean Williams of Gateley plc
Sean presented what might be regarded as something of a niche opportunity for individuals of Indian origin. A detailed handout was provided.
Contact Details firstname.lastname@example.org Tel 01618367877
Probate – Guided Case Management Kevin Parsons of Northwood Banks
Kevin presented a software package that has been developed by him and his colleagues to provide a structured approach to the processing of probate/estate administration.
Members issues (All members)
The well-established sharing of information, experiences and best practice on a number of issues including:
Probate fees and trusts- a business opportunity – Mutual Wills – Lifetime Trusts and the RNRB – Fallout from the Family Trust Corporation – Multiple NRB availability – Digital assets – Trusts and the rules on self-dealing – GROBs – Leasehold and Freehold when severing tenancy – File notes on HPPs and/ or long-term care planning – Long-term care and assessment of pensions – JT severance and the effect on new probate fees – Unequal estates and IHT liability – Use of FLITS and taxation – CY Pres and the accrual clause