When did you last look at a will or an LPA and actually understand what it was trying to do?
Wills are still written in near-Dickensian language, which makes them hard to decode.
And LPAs come with limits that catch people out all the time: what an attorney can and can’t gift, whether they can set up a trust, what happens if the attorney themselves loses capacity?
Join us online at 1pm on Wednesday 9 September for a conversation about wills and LPAs with Shaun Moore, Technical Specialist at Quilter.
With pensions moving into the IHT net, a lot of existing plans are suddenly out of date, and that makes this a good moment to revisit both documents.
This isn’t about which form to fill in or which portal to log into. It’s a planning conversation about why these documents matter, what they can and can’t do, and where the pitfalls are.
During this Assembly we’ll cover
- why pensions coming into the estate means old wills need a second look
- RNRB pitfalls and old discretionary trusts left over from before the transferable nil rate band
- deeds of variation, and what your options are when a will hasn’t been drafted well
- investment powers in will trusts, including bonds for life tenants, STEP provisions and when the Trustee Act 2000 defaults apply
- the limits on what an attorney can do, including gifting and setting up trusts
- LPAs and discretionary fund management, and the Office of the Public Guardian’s reversed guidance (now allowed unless the document says otherwise)
- what happens when an attorney themselves loses capacity, and whether a will can be changed or revoked
What can you expect to take away?
A clearer grasp of wills and LPAs that goes beyond the paperwork, so you can spot the planning issues and pitfalls when they land on your desk.
