The creation, administration and taxation of trusts, and the powers and duties of trustees, are now heavily regulated areas. "The Trust Practitioner's Handbook" provides an accessible guide to advising clients on the possibilities provided by trusts, the tax position, and the administration of trusts. Busy practitioners will wish to avoid negligence for failing to invest correctly and avoid tax penalties for missing tax deadlines or incorrectly assessing tax bills. Good systems can help, and this book addresses how these systems might be used. Delegation of trust management functions like investment advice must comply with the practitioner's regulatory regime, and guidance is given on how this should be approached. Making trust administration pay is a challenge and the book also provides ideas to improve profitability. A 'good practice' guide for all those involved in the administration of trusts, this book makes trusts law accessible with checklists, examples, precedents and case studies.
Rezensionen / Stimmen
'This book is a useful "first port of call" on the topic and as such is a welcome addition to the Law Society's series of handbooks on private client practice areas.' New Law Journal, 4 November 2005 'I find it very informative and easy reading. The points made are concise and clearly explained. Congratulations on a brilliant busy practitioner's reference book.' Peter Hughes, 31 January 2006 'It does exactly what it says on the front...the book is of interest and use to all trust practitioners with the inclusion of so much practical information. Anyone who has attended one of Gill Steel's lectures will know the down-to-earth nature in which she lectures and this is echoed in the book with the avoidance of legalese and jargon, making the text as easily digestible as possible.' Trusts and Estates Law & Tax Journal, September 2006
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ISBN-13
978-1-85328-945-3 (9781853289453)
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Schweitzer Klassifikation
Gill Steel is a freelance consultant and trainer providing advice to law firms. She is a member of the Association of Tax Technicians and STEP and lectures regularly on wills, trusts and tax subjects. She has an MBA in Legal Practice from Nottingham Law School and is a member of the Wills and Equity Committee of the Law Society and the UK Probate & Estate Committee of STEP. Charles Christian publishes Legal Technology Insider and writes and lectures extensively on IT. Robert Mowbray is a partner with chartered accountants MacIntyre Hudson and an experienced trainer. He is an Industrial Fellow at Kingston Business School and a Visiting Fellow at the College of Law.
About the authors; Acknowledgements; Abbreviations; Table of cases; Table of statutes; Table of statutory instruments Part One - Setting up a trust 1. Why have a trust?; 2. Creating a trust; 3. Trustees Part Two - Administering the trust 4. Getting started; 5. Administration implications of the Trustee Act 2000; 6. Trustees' decision making; 7. Financial services Part Three - Taxation of trusts 8. Introduction to taxation of trusts; 9. Inheritance tax; 10. Capital gains tax; 11. Income tax; 12. Trusts with a vulnerable beneficiary Part Four - Practical trusts 13. Dealing with various events; 14. Nil rate band discretionary trust debt scheme; 15. Managing an efficient and profitable practice; 16. Information technology Appendices 1. Case Study: the Marion Fairweather 1995 Settlement; 2. Forms and checklists; 3. Relevant legislation as amended at July 2005 Index
