Drafting Trusts and Will Trusts 10th edition
| Author | James Kessler and Leon Sartin
| | Publisher | Sweet & Maxwell
| | Products | Drafting Trusts and Will Trusts 10th edition Hardback+CD | £130 + VAT
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December 2010
Features
Drafting Trusts and Will Trusts explains the issues involved in drafting trusts and will trusts. It offers an extensive selection of precedents to suit a wide range of trust requirements, and helps ensure practitioners can make the best tax planning judgements through the use of the correct trust.
The new 10th edition covers:
- Accumulations and Perpetuities Act 2009
- STEP provisions, 2nd edition
- Finance Act 2009 & 2010
- New chapter on Family Limited Partnerships
- Additional Will Precedents for married testators and a will precedent dealing with business of agricultural property which were added at the request of many users of the current and past editions
It also includes:
- Discussion of recent HMRC guidance on transferable NRBs and new IHT forms
- Review of recent case law including HMRC v Clay (deductibility from income of trustees' management expenses), C v C (whether interest in discretionary trust is financial resource on divorce), Martin v Trigg (negligence in will drafting and taxation of index linked element in nil rate band trusts), Sammut v Manzi (interpreted of "per stirpes" in clause in will)
- Discussion of impact for drafting of Human Fertilisation and Embryology Act 2008
Contents
Part 1 – trust drafting
- First principles
- Style
- Principles of Interpreting trust documents
- Beneficiaries
- Trustees
- Trusteesâ?? powers
- Trust property
- The rule against perpetuities
- General provision of a trust
- Drafting and understanding overriding powers
- Exercising overriding powers
- Settlor exclusion clause and default clause
- Interest in possession trusts
- Accumulation and maintenance trusts: general comments
- A&M trusts: income clauses
- Providing for death of an A&M beneficiary
- Discretionary trusts
- Provisions inconsistent with IP A&M and discretionary trusts
- Will trusts
- Administrative provisions
- Bare trusts
- Trusts of life insurance policies
- Trusts of pension and death benefits
- Charitable trusts
- Trusts of damages
- Trusts for disabled beneficiaries
- Governing law, place of administration and jurisdiction clauses
- Restricting rights of beneficiaries
- Stamp duty and SDLT
- Execution of wills and trust deeds
- NRB discretionary trusts
- appointment and retirement and trustees
- Indemnities for executors and trustees
- Family Limited Partnerships – new!
Part 2 – precedents
- Life time trusts
- Will trusts
Appendices
- STEP Standard Provisions – new!
- Annotated Bibliography
- Useful Websites
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