Wills, Life Assurance and Death Benefits Conference 17 February 2015 6 CPD Hours 17 February 2015 Central London Fees: £415 + VAT CLT Members/ £525 + VAT Non-Members Major legislative changes are taking place in 2015, with the abolition of the 55% pensions tax on death set to alter the pensions landscape dramatically. Additionally, changes to Inheritance Tax on trusts, even though the proposed Settlement Nil Rate Band (SNRB) is not now being brought in, also mean a rethink in the advice and planning you will need to give your clients from now on. Our speakers will guide you through these changes, which they will help to fit into the whole world of life assurance and death benefits and recording them for IHT on death. Make sure you are advising your clients with the most up to date knowledge, following announcements in the 3 December 2014 Autumn Statement and 10 December draft Finance Bill clauses, by attending this highly topical and practical conference. Suitable for any practitioner engaged in will drafting, estate planning and completing IHT returns, you will leave this conference understanding the mechanics of what to do for your clients now as well as how to plan for the future. The speakers include expert practitioners – both solicitors and financial planners. Delegates attending will gain greater understanding of these complex matters. Chair John Bunker is Head of Private Client Knowledge Management for Thomas Eggar LLP, a role developed after 26 years with the firm specialising in wills, trusts, estate and tax planning. In more recent years he has developed regular training in these areas. He has worked extensively with financial planners and investment managers for mutual clients and has played a leading role in developing relationships with financial planners for the firm. Speakers Steven Appleton is a Partner at Laytons private client practice group. Steven deals with most aspects of private client law, including Wills, Trusts, Tax Planning, Power of Attorney, Court of Protection and Probate. Steven is a full professional member of the Society of Trust and Estate Practitioners (STEP) and specialises in advising family and non-family business owners and senior company executives on their estate planning and succession strategy. He also regularly advises older clients, being a member of Solicitors for the Elderly, and is recommended by both Mencap and Scope for advising those with disabled beneficiaries on their estate planning. Alan Neal, Partner, MFG Solicitors LLP specialises in finance and tax. Alan is recommended in the Legal 500 and is also dual qualified as a Chartered Tax Adviser. Alan was involved in four high-profile Inheritance Tax cases on APR: Antrobus I, Antrobus II, Williams and Golding. He is a member of STEP and is former Clerk to the General Commissioners for Income Tax Purposes for the Kidderminster Division. Ian Poysden is Managing Director of IEP Financial. Ian has been an Independent Financial Adviser for 20 years and has become synonymous in Brighton for the many wealthy and well-known clients he looks after. He specialises in investments and corporate business and is responsible for all the acquisitions that the company has made. David Trenner has worked in financial services for over 35 years. In addition to holding the Advanced Financial Planning Certificate, David has been a senior pensions examiner for the Chartered Insurance Institute and has also worked as a guest lecturer at the Mediterranean Insurance Training Centre in Malta. He joined Intelligent Pensions in 2001 and is well known throughout the industry as he is always prepared to provide expert comment and forthright opinions on pensions developments at conferences and to trade and national press. 9.00 9.30 Chair’s Welcome and Introduction John Bunker, Thomas Eggar 9.45 Changes to IHT on Trusts: Following the December Autumn Statement & Finance Bill 2015, What do They Mean in Practice? 11.30 Completing IHT 409 and How Effective Planning Can Mitigate IHT On Pensions Mistakes that solicitors need to avoid making and pension misconceptions | completing IHT409 | Different pension structures and their treatment under the new regime. David Trenner, Intelligent Pensions 12.15 Life Assurance products with Death Benefits: Issues on IHT 410 & Deduction of Liabilities Trusts are hugely important to effective planning with life assurance and death benefits so the tax treatment matters. | HMRC’s “simplification” of IHT on trusts was revamped as “fairness” | Changes announced in June 2014 were to be backdated to then. | But now new anti-avoidance measures are targeting pilot trusts. | Have the details on 3 & 10 December answered the uncertainties? | How will the revised IHT provisions work and how can they be used effectively? John Bunker, Thomas Eggar | Important concepts in Life Assurance and life cover to report | Some key points in preparing Form IHT 410 | How to show trusts of life policies | Restrictions on the deduction of liabilities and the IHT 419 form. John Bunker, Thomas Eggar 10.30 GO Pensions – A Changed Pension Landscape Considers Will drafting under the latest revised IHT regime for trusts | Case-study based analysis of typical clients and how we might approach their estate planning. Examples will include: Life interests, Protective trusts, Discretionary trusts, Bereaved minor trusts, 18-25 trusts | Discussion of the practical and technical implications of the following, in the context of Will drafting: Life Policies, Death in Service Benefits, Pensions. Steven Appleton, Laytons Pension Reform | Treatment of Death Benefits | Generational planning | Funding Pensions. Ian Poysden, IEP Financial 11.15 Refreshments 1.00 Lunch 2.00 Will Drafting as a Jigsaw: Putting All the Pieces Together Please quote reference CF116421 at point of booking. helping you deal with the challenges resulting from this year’s legislative changes 3.00 Estate Planning & Using Trusts for Death Benefits in the new IHT regime Estate planning –bringing legal, tax and financial planning together | Spousal by-pass trusts & death benefits –in the new IHT regime | Review of life policy and death benefit trusts as part of an overall estate planning strategy. John Bunker, Thomas Eggar 3.45 Refreshments 4.00 Financial Planning Schemes Where You Can “Have your cake and eat it” Discounted Gift Schemes | Gift & Loan Trusts | Back to Back Schemes. Alan Neal, MFG 4.45 Chair’s Concluding Remarks and Questions 5.00 Paralegal Why Choose CLT? There’s a bright idea..... 0141 225 6705 [email protected] www.clt.co.uk/paralegal Terms and Conditions 1. 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