All you need to know when advising clients on making gifts – overcoming pitfalls and problems

Aim

To help practitioners avoid negligence claims in relation to gifts and ways to help protect clients.

Outcome

Participants will be better equipped to advise clients in relation to estate planning and gifts.

Agenda

• The perils and problems with advising on gifts
• Establishing the why?
• A review of the law surrounding capacity to make gifts
• What gifts attorneys and deputies can and cannot make
• Typical challenges to lifetime gifts
• A review of the entwined tax implications of gifts including inheritance tax, capital gains tax, income tax, SDLT, POAT and Gifts with Reservation of Benefit (GRoB)
• Deliberate deprivation of care fees – why gifts to avoid care fees never work
• Implications of bankruptcy, death and family fall out