06 Sep 2023

Law Society Financial Advice Series 2023 – Estate Planning using trusts and other mitigation strategies

Description

The Law Society of Northern Ireland, in conjunction with Law Society (NI) Financial Advice Ltd, is once again delivering a comprehensive series of CPD sessions which will be of benefit to practitioners.

This session will cover:

· Annual Allowances and exemptions;

· Use of Trusts such as Discounted Gift Trust or Gift & Loan Trust to reduce or cap IHT liability;

· Legacy Trusts for those with no immediate family beneficiaries;

· Use of strategies such as IPDI Trusts to protect beneficiaries from previous marriages;

· Use of Discretionary Will Trusts to utilise unused Nil Rate Band for remarrying widows/widowers. Increases to the NRB for a couple to more than the current £650,000 limit;

· Business Property Relief;

· Agricultural Property Relief.