Eleanor Goodridge considers a case of extreme gift-making under an LPA ‘Purvis provides a clear example of how the OPG can step in to attempt to safeguard the interests of persons falling within the Court of Protection’s jurisdiction and the consequences which may result for attorneys and deputies alike.’ For practitioners, advising an attorney or …
Continue reading "Gifts: No carte blanche"
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Wills & Trusts Law Reports | Summer 2018 #172The claimant, who was born in 1934, left all financial matters to her husband until his
death in 2005. He had made ample provision for her, with an annual income of
about £100,000. She lived in a large house, in Northumberland, which for
inheritance tax planning reasons she transferred to her son, the defendant, in 2006.
As she continued to live in the house, to comply with the reservation of benefit rules she paid her son a monthly rent of £2,500. The claimant’s health began to deteriorate in 2011, subsequently suffering a stroke which left her with hemiplegia. By 2013,
as a conseq...
Catherine Paget sets out the courts’ approach to competing claims under the Inheritance (Provision for Family and Dependants) Act 1975 ‘Where a sum of money belonging to one person is paid into a joint bank account there is a presumption that the owner of the money does not intend to make a gift of it …
Continue reading "Inheritance: Dual responsibilities"
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Catherine Paget looks at the Northall case, which sheds light on who inherits joint bank accounts ‘If a joint account is opened with funds solely provided by one party, the provisions of the deceased’s will or the operation of the intestacy rules will often mask the fact that no specific instruction has been given to …
Continue reading "Trusts: The presumption of advancement?"
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