Risk and Negligence in Wills, Estates, and Trusts

Paperback | April 6, 2014

byMartyn Frost, Penelope Reed, Mark Baxter

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Risk and Negligence in Wills, Estates, and Trusts provides essential guidance for all will draftsmen. It offers in-depth analysis of negligence and wills, together with commentary on safe practice and the avoidance of risk. Together the areas covered provide a framework for the safe practicethat is now essential in this much disputed area of work.This updated edition examines the new developments in will preparation and what is needed for safe practice as well as the important cases since the last edition. This work contains indispensable practical guidance, tailored to meet the demands of all those involved in wills, trusts, and estates anddisputes relating to them. Practical advice in establishing best practice to avoid disputes is given and the appendices include practical forms and checklists to assist this. In addition there is analysis of the allied subjects of estate and trust administration and commonly encountered problemareas. A section also concentrates on duties in relation to taxation aspects of this work. Negligence and private client work is a fast developing area of modern law. The recent financial crisis has helped to focus attention closely on what risk is and how it should be managed. This has not merely been in the financial sector but in all areas of business. The legal profession has seensome major financial failures and an operating climate that is increasingly difficult. The rise in PI claims, the insurers' restrictions on cover, and the increased cost of cover have led to an increased focus on professional ability and risk management. Therefore, knowledge of the risks, whatconstitutes safe practice, and how to manage risk, are essential for anyone practising in this area.

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Risk and Negligence in Wills, Estates, and Trusts provides essential guidance for all will draftsmen. It offers in-depth analysis of negligence and wills, together with commentary on safe practice and the avoidance of risk. Together the areas covered provide a framework for the safe practicethat is now essential in this much disputed a...

Martyn Frost is a Director at Trenfield Trust and Estate Consulting Ltd. He previously worked with a major trust company and latterly has been a consultant with law firms in the Manchester area. He is a former Deputy Chairman of STEP and a former Vice-President of The Association of Corporate Trustees. Penelope Reed QC has practised a...

other books by Martyn Frost

Format:PaperbackDimensions:576 pages, 9.69 × 6.73 × 0.07 inPublished:April 6, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:019967292X

ISBN - 13:9780199672929

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Table of Contents

Part A: Negligence and Will Preparation1. An Introduction to Tort2. The Duty of Care in Relation to Will Preparation3. Other Aspects of the Duty of CarePart B: The Process of Will Preparation4. Client Issues5. The Will Draftsman6. Instructions, Preparation, and Execution7. Other Issues8. RiskPart C: Administration of Estates and Trusts9. Introduction and New Business10. Neutrality of PR and Trustees11. Administration Processes12. Timing13. Assets14. Distributions15. Powers and Duty of CarePart D: Taxation16. Wills and Tax Advice17. Tax in the Administration of Estates18. Tax and Trusts19. Tax Advice during the Lifetime of the ClientPart E: Litigation20. Introduction and Procedure21. Limitation22. The Assessment of Damages23. Mitigation and the Interrelation with Other ClaimsPart F: Statutes and AppendicesAppendix 1: Wills Act 1837Appendix 2: Trustee Act 2000Appendix 3: Will instruction formAppendix 4: Execution of a willAppendix 5: Information needed in an emergency will packAppendix 6: Administration of estate progress sheetAppendix 7: Estate account checklist