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Rayner my parade! The importance of specialist advice.
Jemma Brimblecombe
Today’s Times (13 October) carries the headline “Duke of Westminster’s £8bn fortune escapes death duties”. It’s reported that, on the face of the probate just granted in respect of the late Duke’s estate, personal wealth of £616 million was, for the most part, left on life interest trusts for his widow, Natalia.
The Financial Conduct Authority has published a paper suggesting that more should be done to enable individuals (“donors”) to make, register and store Lasting Powers of Attorney online. These proposals may save time, paper and energy, but there is a real risk that safeguards designed to protect individuals will be compromised.
The Wills Act 1837 (the “Wills Act”) is probably one of the oldest pieces of legislation we tend to come across on a day to day basis. It works well because it is (a) clear, and (b) simple.
The recently retired Senior Judge of the Court of Protection, Judge Denzil Lush, caused a stir on the Today Programme last week by criticising the lack of safeguards in powers of attorney and saying that he would not sign one himself. Judge Lush also contrasted this with the appointment of a professional deputyship as a “safer” alternative.
Jemma Brimblecombe
Charles Richardson
Oliver Oldman
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