|
13.00 – 13.30
|
Registration and coffee (Please note lunch is not provided)
|
| |
|
13.30 – 14.30
|
Acting for Trustees and thinking about beneficiaries
James McNeill, QC
The decision, now under appeal, of the High Court of New Zealand in March
this year in Eden Refuge Trust v Hohepa (2010) 3NZTR 20-009 highlights the
potential exposure of those advising and acting for trustees to claims by
beneficiaries based upon allegations such as breach of fiduciary duty.
James McNeill QC will explore the likely ambit of such liabilities and
the considerations to be borne in mind by practitioners.
|
| |
|
14.30 – 1500
|
STEP Scotland AGM and break
|
| |
|
15.00 - 16.00
|
Should all testamentary bequests and legacies be "in trust"?
Mark Stewart, Stronachs
- The case for; Protecting assets Protecting beneficiaries Tax benefits
- The case against; Tax disadvantages Costs, Complexity, Trustees' duties
- A practical approach - keeping the options open
- Establishing testamentary trusts by post-death redirections
- Pilot trusts for testamentary bequests
|
| |
|
16.00 – 17.00
|
Family Limited Partnerships - the ups and downs of the FLIP side of trusts
Alan Barr, Partner at Brodies and Director of the Legal Practice Unit at the University of Edinburgh
The Finance Act 2006 severely circumscribed the use of lifetime trusts as
vehicles for large lifetime transfers; the coalition Government shows no
signs of loosening the IHT net in the near future. Family Limited
Partnerships may provide one way of coping with the eternal battle between
making gifts and retaining control. A discussion of the advantages and
disadvantages of FLPs.
|
| |
|
Location:
|
The Recital Room, City Halls, Candleriggs, Glasgow, G1 1NQ
(view in google maps)
|
| |