Course outline

Lifetime gifting remains a core component of inheritance tax and estate planning, but determining when a gift is truly effective, particularly in cases involving shared occupation or shared ownership, continues to create complexity for practitioners. The family home in particular can be notoriously difficult to involve in estate planning, but it remains a very common question with clients, and there are some cases where it can be effective, perhaps most notably using the exemption under section 102(B) IHTA. A clear understanding of these provisions, and how they apply across different asset types, is essential for offering reliable and practical advice.

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This online session will provide a practical overview of the legal and tax considerations involved in lifetime gifting, covering property and other commonly gifted assets. It will examine the operation of section 102B, gifts with reservation of benefit (GWR) and pre-owned asset tax (POAT) and highlight the circumstances in which gifts may fail to achieve their intended tax outcomes. Using examples and common client scenarios, the session will explore the issues that frequently lead to ineffective planning or unexpected tax charges and help practitioners assess when gifting is appropriate, how to structure gifts safely and how to manage the risks and limitations associated with using lifetime gifts as part of a wider estate planning strategy.

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Who should attend

Private client solicitors, estate planning practitioners and advisers dealing with lifetime gifting, property and inheritance tax planning.

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Speaker

Michael Culver is the founder and Managing Director of Culver Law Ltd, which he established in October 2021. He advises high-net-worth private clients on estate planning, wills, estate administration, trusts, LPAs, Court of Protection matters and tax, providing tailored advice on complex and sensitive issues.