Estate Planning for Middle Income Clients
Starting dates and places
Description
Course aims and objectives
The transferable nil rate band was announced by the Chancellor in October 2007, and is now law. For married couples whose assets are well within the nil rate band, then in many cases the best advice to these clients will be to make wills giving everything to each other with a default gift to children. However, if the combined assets of the clients are in excess of double the nil rate band, or there are other concerns, for example care home fees or providing for children of previous relationships, this may not be the correct advice.
This course is designed to help you advise the middle income client about tax planning opportunities for them and dealing with other …
Frequently asked questions
There are no frequently asked questions yet. If you have any more questions or need help, contact our customer service.
Course aims and objectives
The transferable nil rate band was announced by the Chancellor in October 2007, and is now law. For married couples whose assets are well within the nil rate band, then in many cases the best advice to these clients will be to make wills giving everything to each other with a default gift to children. However, if the combined assets of the clients are in excess of double the nil rate band, or there are other concerns, for example care home fees or providing for children of previous relationships, this may not be the correct advice.
This course is designed to help you advise the middle income client about tax planning opportunities for them and dealing with other concerns in the light of the transferable nil rate band.
The course will include
- The effect of the Finance Act 2008, and any other changes proposed by the government;
- Tax efficient will drafting in the light of the Finance Act 2008 with a concentration on the NRB discretionary trust scheme;
- The use of the family home in tax efficient will drafting;
- Lifetime gifts
- The use of the family home in lifetime tax planning schemes which do not fall foul of the new income tax charge;
- The second home;
- Property abroad;
- Use of the lifetime exemptions form IHT;
- The family farm and farmhouses.
- Second marriages
- Cohabitee
- The advice to be given to clients retiring abroad
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