On-Demand Events
17 Jul 24 2 min read
Working out what to do with your client’s wealth after their death is all part of a paraplanner’s life.
But settling on the best strategy can be complex – especially when missing a vital detail can have costly consequences.
Stay up to date with the latest thinking, that’s what.
In this Assembly Neil covers:
Neil Macleod (Senior Technical Manager, M&G Wealth)
Richard Allum (Paraplanners Assembly)
Neil Macleod of M&G Wealth, joined Richard Allum of the Paraplanners Assembly to explore death and trusts and paraplanning.
60 minute video (approximately)
By the end of this session, you will be able to:
To claim your CPD certificate, test your knowledge with the questions below.
Write down your answers to each of the following questions and check your answers when you click to claim your CPD certificate on the link below.
A. Anne’s husband Terry died recently and in his Will left her a life interest in his entire estate. On Anne’s death the trust fund will be split equally between his 2 children from a previous marriage, Bob and Geoff. Which if the following is false?
B. Gillian dies intestate leaving no spouse or civil partner but has one daughter, Lisa, who is aged 10. They live in London. Which of the following statements is true?
C. Angus dies leaving a will which splits his estate equally between his two adult sons, Alasdair and Murdo. There are no conditions attached to these legacies. Alasdair is wealthy and has an inheritance tax liability so seeks advice from a solicitor to vary his share into a discretionary trust created by a Deed of Variation (DOV). Alasdair and his wife will be potential beneficiaries of the trust. Which of the following statements is false?
D. Trustees of a discretionary will trust receive dividend income of £10,000 in the 2024/25 tax year. They decide to accumulate the income rather than distribute to one of the discretionary beneficiaries. The testator hadn’t created any other trusts either while they were alive or in their will. How much tax will the trustees pay on this income via self-assessment for the 2024/25 tax year?
A. Anne’s husband Terry died recently and in his Will left her a life interest in his entire estate. On Anne’s death the trust fund will be split equally between his 2 children from a previous marriage, Bob and Geoff. Which if the following is false?
B. Gillian dies intestate leaving no spouse or civil partner but has one daughter, Lisa, who is aged 10. They live in London. Which of the following statements is true?
C. Angus dies leaving a will which splits his estate equally between his two adult sons, Alasdair and Murdo. There are no conditions attached to these legacies. Alasdair is wealthy and has an inheritance tax liability so seeks advice from a solicitor to vary his share into a discretionary trust created by a Deed of Variation (DOV). Alasdair and his wife will be potential beneficiaries of the trust. Which of the following statements is false?
D. Trustees of a discretionary will trust receive dividend income of £10,000 in the 2024/25 tax year. They decide to accumulate the income rather than distribute to one of the discretionary beneficiaries. The testator hadn’t created any other trusts either while they were alive or in their will. How much tax will the trustees pay on this income via self-assessment for the 2024/25 tax year?
Before collecting your certificate, please take a moment to provide us feedback on this session, please email prudential.distribution.team@prudential.co.uk
Complete the form below and we’ll email your CPD confirmation to you. Please use the email address that you would usually use when contacting us.
Submit your details and your question and one of your Account Managers will be in touch.