Today I launched my new web-page: Zoom Mediation & Estate Planning – Carl Islam
See also:
Probate Disputes – How I can help – Carl Islam
my web-page Mediation of Probate Disputes – Carl Islam, which today appears on page 1 of Google worldwide when using the search words, ‘mediation of probate disputes’;
and: Estate planning using a Family Investment Company – Carl Islam
The current outline of my planned Webinar, to be broadcast later this year is set out below, and is on schedule to be completed and submitted to the provider for approval by the end of this month.
Webinar Title: ‘Mediation & Estate Planning.’
Type: One Hour Pre-Recorded Talk.
Presenter: Carl Islam, Barrister, TEP, Accredited Mediator, and Author.
CPD Points: 1.
Level: Intermediate/Advanced.
Audience: Solicitors; Barristers; TEP’s; Chartered Tax Advisors; and Family Offices worldwide.
This new webinar explains to private client practitioners how Mediation is an opportunity to transform an acrimonious probate dispute into a joint-problem solving exercise, by applying estate planning principles to discover and unlock tax-efficiency post-death, resulting in the reduction of the chargeable estate for IHT, thereby enlarging the estate/trust fund for settlement and distribution.
Where an ultra-wealthy international business family does not know where to go, and how to start an inter-family discussion about how to put their house in order before a monumental event occurs (i.e., loss of capacity or death of the head of the family), Mediation can also be used as a pro-active life-time estate/business succession planning process, e.g. with the active participation of a Family Office.
What you will learn:
This webinar will cover the following:
- Introduction to the Mediation ‘process’: (i) Terms of the Mediation Agreement; and (ii) the 3 Stages of: Preparation, Planning, and Implementation (i.e., under the terms of the Settlement Agreement).
- Who participates in the process and their roles.
- What planning tools are available to reduce the size of the chargeable estate for IHT, and thereby increase the size of the net estate for distribution, i.e., to expand the ‘pie’ for settlement.
- Why analysis of the tax-efficiency of the Testator’s (‘T’s’) testamentary planning, can reveal common ground for settlement.
- How to expand the ‘pie’ for settlement, by e.g.: (i) restoring T’s available Transferable Nil-Rate Band and Residential Nil-Rate Band; (ii) maximising IHT Agricultural Property Relief and Business Property Relief; and (iii) undertaking retrospective excluded property planning by re-directing legacies.
- Because isolation of these constraints may also the key to a mutually beneficial and tax-efficient distribution of the estate, the process requires a pre-mediation technical analysis of the retrospective IHT planning opportunities by e.g., a capital taxes Chartered Tax Advisor (‘CTA’), i.e., to prepare an Estate Planning Report (‘EPR’).
- The EPR is the participants’ compass in jointly exploring/developing the contours and structure of a holistic plan for the enlargement of the estate/trust fund for settlement and distribution, i.e., by lawfully mitigating IHT, both now, and in the future, e.g., following the death of T’s surviving spouse/civil partner.
- Instead of investing in litigation, family members in dispute can choose, through Mediation, to focus their energies on retrospective estate planning. This process costs each of them nothing, if the fees charged by the CTA are paid out of the estate/trust fund by the executors/trustees.
- Therefore, if family members in dispute are ready and willing to enter into the process, Mediation can open the door to a potential win/win strategy for settling their dispute. The same principle applies to life-time estate/business succession planning, i.e. to avoid a dispute following e.g. T’s death.