Partnerships, LLPs, Estates & Taxes - The Key Issues Explored

Introduction

This virtual classroom seminar will explore the issues surrounding the death of members of LLPs and partners in 1890 Act partnerships.

There are over 50,000 LLPs in the UK and 350,000 partnerships so it is vital to understand this area of law both whilst drafting wills and dealing with estates.

The session will look at the legal and tax position and how to draft wills to best look after your clients’ interests.

What You Will Learn

This live and interactive session will cover the following:

• What death does to the firm/LLP and to partnership/membership
• What part of a member’s/partner’s share can be gifted?
• Devolution of title
• Sums due to the estate
• The estate’s liability for business losses
• Relevant IHT reliefs (i.e., APR and BPR)
• Options for personal representatives
• How the above issues affect the drafting of wills and related documents
• Powers of Attorney

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.