Risk and Negligence in Wills, Estates, and Trusts

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Martyn Frost (Director, Trenfield Trust & Estate Consulting Ltd) Penelope Reed QC (Barrister, 5 Stone Buildings)

Risk and Negligence in Wills, Estates, and Trusts

Martyn Frost (Director, Trenfield Trust & Estate Consulting Ltd), Penelope Reed QC (Barrister, 5 Stone Buildings), Mark Baxter (Barrister, 5 Stone Buildings)

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English

Oxford University Press
18 March 2014

Equity & trusts; Trusts & estates taxation; Negligence; Wills, probate & Succession

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 practice that 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 and disputes 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 problem areas.

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 seen some 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, what constitutes safe practice, and how to manage risk, are essential for anyone practising in this area.

By: Martyn Frost (Director Trenfield Trust & Estate Consulting Ltd), Penelope Reed QC (Barrister, 5 Stone Buildings), Mark Baxter (Barrister, 5 Stone Buildings)
Imprint: Oxford University Press
Country of Publication: United Kingdom
Edition: 2nd Revised edition
Dimensions: Height: 246mm, Width: 169mm, Spine: 30mm
Weight: 870g
ISBN: 9780199672929
ISBN 10: 019967292X
Pages: 560
Publication Date: 18 March 2014
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

Part A: Negligence and Will Preparation 1: An Introduction to Tort 2: The Duty of Care in Relation to Will Preparation 3: Other Aspects of the Duty of Care Part B: The Process of Will Preparation 4: Client Issues 5: The Will Draftsman 6: Instructions, Preparation, and Execution 7: Other Issues 8: Risk Part C: Administration of Estates and Trusts 9: Introduction and New Business 10: Neutrality of PR and Trustees 11: Administration Processes 12: Timing 13: Assets 14: Distributions 15: Powers and Duty of Care Part D: Taxation 16: Wills and Tax Advice 17: Tax in the Administration of Estates 18: Tax and Trusts 19: Tax Advice during the Lifetime of the Client Part E: Litigation 20: Introduction and Procedure 21: Limitation 22: The Assessment of Damages 23: Mitigation and the Interrelation with Other Claims Part F: Statutes and Appendices Appendix 1: Wills Act 1837 Appendix 2: Trustee Act 2000 Appendix 3: Will instruction form Appendix 4: Execution of a will Appendix 5: Information needed in an emergency will pack Appendix 6: Administration of estate progress sheet Appendix 7: Estate account checklist

Martyn Frost is a Director at Trenfield Trust & 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 at the bar since 1983, predominantly in the area of trusts, wills, contentious probate, family provision claims and tax. She has appeared in many of the leading cases on Wills and estates and lectures widely on these topics. She is a member of STEP, ACTAPs and an officer of the Chancery Bar Association Mark Baxter is a barrister at 5 Stone Buildings where he has a broad traditional chancery practice including a particular focus on contentious and non-contentious trusts and probate, and related professional negligence.