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Chapter

This chapter is concerned with the arrangements which people can make to choose who will benefit from their property after their death. It has been said that only two things are certain in life: death and taxes. The two are linked in another way, because death is an occasion on which the state levies taxes, primarily through inheritance tax. The tax treatment of inheritance arrangements is important and has considerable influence on the way in which people arrange their affairs. Moreover, the Law Commission has consulted on some wide ranging changes to the rules governing wills, on the basis that law needs to be updated to improve clarity, bring it up to date, and make it workable. Hence this chapter makes references to their proposals for reform.

Chapter

This chapter addresses family provision, with particular reference to the Supreme Court’s decision in Ilott v The Blue Cross. Under the Inheritance (Provision for Family and Dependants) Act 1975, certain persons can apply for financial provision out of the deceased’s estate on the grounds that the deceased’s will or intestacy (or a combination of the two) does not make reasonable financial provision for the applicant. The persons entitled to apply are the deceased’s surviving spouse or civil partner, former spouses or civil partners who have not remarried or entered a subsequent civil partnership, children, children of the family, dependants, and cohabitants. The remainder of the chapter covers the powers of court to make orders; the ‘standards’ applicable to applicants and the ‘matters’ which the court must take into account in applications for an order under the 1975 Act; and anti-avoidance provisions of the 1975 Act.

Chapter

This chapter discusses the Roman law of inheritance. It covers intestacy; making a will; heirs; legacies; testamentary freedom; the failure of wills, heirs, and legacies; and codicils and trusts. The importance of inheritance as a means by which property can be acquired is obvious. A Roman citizen might easily pass through life untouched by the rules, say, of usucapion or accessio, but he could not escape the operation of the law of inheritance (or at least his estate could not when he died). And he would often have inherited property himself on the death of family members or friends. Moreover, inheritance, unlike most other forms of acquisition of property, involved the transfer of the whole of a person’s property.

Book

Borkowski’s Law of Succession gives full attention to this area’s rich and evolving case law, illustrating the relevance of the law to modern life; the central issues and academic debates surrounding inheritance are discussed fully. This revised edition covers new case law including Ilott v The Blue Cross and subsequent decisions, Payne v Payne, Legg v Burton, and Hand v George, and new legislation including the Civil Partnerships, Marriages and Deaths (Registration etc) Act 2019. The text also looks at relevant Law Commission projects (in particular the recent consultation paper on Making A Will). Finally, there is discussion of the latest succession law scholarship.

Chapter

Jennifer Seymour, Clare Firth, Lucy Crompton, Helen Fox, Frances Seabridge, Susan Wigglesworth, and Elizabeth Smart

This chapter discusses the law and procedure relating to the issue of a grant of representation to the personal representatives of someone who has died. It considers the nature, effect, and the principal types of grant; the position of the personal representatives; the responsibilities of solicitors instructed to act in the administration of an estate; obtaining the grant; the court’s requirements; Statement of Truth for executors, for administrators with will annexed and for administrators; HM Revenue & Customs (HMRC) requirements; excepted estates; Form IHT 400 and its Schedules; and the calculation of inheritance tax (IHT).

Chapter

Clare Firth, Jennifer Seymour, Lucy Crompton, Helen Fox, Frances Seabridge, Jennifer Seymour, and Elizabeth Smart

This chapter discusses the law and procedure relating to the issue of a grant of representation to the personal representatives of someone who has died. It considers the nature, effect, and the principal types of grant; the position of the personal representatives; the responsibilities of solicitors instructed to act in the administration of an estate; obtaining the grant; the court’s requirements; the Probate Application; HM Revenue & Customs (HMRC) requirements; excepted estates; Form IHT 400 and its Schedules; and the calculation of inheritance tax (IHT).

Chapter

Family law practitioners must be aware of the tax implications of any financial settlement and make it tax- efficient for the client. This chapter examines the types of tax most relevant to family law. Income tax is a type of tax paid on taxable income and, the basic personal allowance, as well as the higher and further rates, are discussed. Capital gains tax (CGT) arises on disposal of an asset or the receipt of money in respect of an asset if there is a ‘chargeable gain’, and examples of these are listed, as well as the relation of CGT and sponses/civil partners/family assets. Inheritance taxand stamp duty land tax are also discussed.

Chapter

Jennifer Seymour, Clare Firth, Lucy Crompton, Helen Fox, Frances Seabridge, Susan Wigglesworth, and Elizabeth Smart

This chapter deals with inheritance tax (IHT). It explains the charge to IHT; potentially exempt transfers (PETs); the transfer of value on death; the occasions to tax; the charge to tax and a lifetime chargeable transfer (LCT); the charge to tax and a LCT where the transferor dies within seven years of the LCT; the charge to tax and a PET; the charge to tax and death; gifts subject to a reservation; liability, burden, and payment of tax; and tax planning.

Chapter

This chapter examines the capital gains tax (CGT) and inheritance tax (IHT) regimes that apply to individuals in relation to businesses and business assets. Under the provisions of the Taxation of Chargeable Gains Act (TCGA) 1992, CGT is payable when a taxable person makes a disposal of chargeable assets giving rise to a chargeable gain unless an exemption or relief applies. The chapter first discusses the various rules which need to be considered to establish a taxpayer’s CGT liability on any given disposal. It then covers CGT in the business context; disposals of partnership property; disposals of shares; disposals of business assets owned by those involved in the business; the purchase by a company of its own shares; and inheritance tax.

Chapter

Jennifer Seymour, Clare Firth, Lucy Crompton, Helen Fox, Frances Seabridge, Susan Wigglesworth, and Elizabeth Smart

Settlements may be created by settlors in their lifetime, or by will, or they may arise under the intestacy rules. This chapter considers the tax implications of such settlements from the perspective of both the trustees and the beneficiaries. It considers each of the three main taxes separately: inheritance tax, capital gains tax, and income tax.

Chapter

Clare Firth, Jennifer Seymour, Lucy Crompton, Helen Fox, Frances Seabridge, Jennifer Seymour, and Elizabeth Smart

Settlements may be created by settlors in their lifetime, or by will, or they may arise under the intestacy rules. This chapter considers the tax implications of such settlements from the perspective of both the trustees and the beneficiaries. It considers each of the three main taxes separately: inheritance tax, capital gains tax, and income tax.

Chapter

Clare Firth, Jennifer Seymour, Lucy Crompton, Helen Fox, Frances Seabridge, Jennifer Seymour, and Elizabeth Smart

This chapter deals with inheritance tax (IHT). It explains the charge to IHT; potentially exempt transfers (PETs); the transfer of value on death; the occasions to tax; the charge to tax and a lifetime chargeable transfer (LCT); the charge to tax and a LCT where the transferor dies within seven years of the LCT; the charge to tax and a PET; the charge to tax and death; gifts subject to a reservation; liability, burden, and payment of tax; and tax planning.

Chapter

This chapter examines the capital gains tax (CGT) and inheritance tax (IHT) regimes that apply to individuals in relation to businesses and business assets. Under the provisions of the Taxation of Chargeable Gains Act (TCGA) 1992, CGT is payable when a taxable person makes a disposal of chargeable assets giving rise to a chargeable gain unless an exemption or relief applies. The chapter first discusses the various rules which need to be considered to establish a taxpayer’s CGT liability on any given disposal. It then covers CGT in the business context; disposals of partnership property; disposals of shares; disposals of business assets owned by those involved in the business; the purchase by a company of its own shares; and inheritance tax.

Chapter

Family law practitioners must be aware of the tax implications of any financial settlement and make it tax- efficient for the client. This chapter examines the types of tax most relevant to family law. Income tax is a type of tax paid on taxable income and, the basic personal allowance, as well as the higher and further rates, are discussed. Capital gains tax (CGT) arises on disposal of an asset or the receipt of money in respect of an asset if there is a ‘chargeable gain’, and examples of these are listed, as well as the relation of CGT and sponses/civil partners/family assets. Inheritance taxand stamp duty land tax are also discussed.

Chapter

This chapter deals with the law of intestacy. The first section consists of an introduction to intestacy, dealing with the basic terms and rules, the incidence of intestacy, and the evolution and theoretical basis of the law. The second section gives a more detailed account of the current law. Considerable reference is made to relevant work of the Law Commission, particularly Intestacy and Family Provision Claims on Death (Law Com. No. 331, 2011), which was preceded by Consultation Paper 191 (2009) and sought to modernize the law of intestacy in light of contemporary social conditions. The Commission’s suggestions were largely enacted in the Inheritance and Trustees’ Powers Act 2014.