The twelve gifts of Christmas: legal strategies for passing wealth

This webinar will guide practitioners through key changes to the private client sector from the Autumn Budget 2024, including updates to inheritance tax and their practical implications. It will cover estate planning options, particularly relevant for farming families and those facing new inheritance tax liabilities as pensions form part of the net estate from 2027. With an estimated £5 trillion set to pass between generations over the next 30 years, participants will gain the knowledge to advise clients on strategies to mitigate tax, maximise wealth transfer, and plan effectively for later-life inheritance.

Topics covered include:

• The Great Wealth Transfer: Silent Generation and Baby Boomers
  • Changes on the horizon:
  • Pensions: being brought into the net estate
  • Private school fees and VAT
  • IHT reforms to farms and businesses
  • Borrowing costs set to rise
• Making gifts during lifetime
• Passing on assets in a will
• Using a trust to hold assets
• Other considerations:
  • Deliberate deprivation of assets: care fees
  • Lifetime gifts: presumption of undue influence
  • Inheritance tax: exemptions, tapering relief, and gifts with reservation of benefit
  • Farming families: APR and BPR
  • Disposing of assets: Capital Gains tax
  • Deeds of Variation
  • Charitable giving
  • Discretionary trusts
• Practical examples: gifting the family home