Private Client | Kingsley Napley

Capacity blog 6 - Capacity to act as a trustee As part of our capacity blog series, we’re exploring the requirements for individuals to serve as trustees, a role with significant responsibilities in managing trust assets for beneficiaries. To act as a trustee, an individual must understand: - The responsibilities of managing and distributing trust assets - Problem-solving in trust administration - Basic financial management principles. The two-stage capacity test (outlined in Blog 1) is applied to evaluate whether an individual meets these criteria. What happens if a trustee lacks capacity? Pre-appointment: if prospective trustees need more capacity, they cannot take on the role Post-appointment: removal and replacement may be necessary if an existing trustee loses capacity. This can involve: - Powers in the trust document - The Trustee Act 1925 - An application to the Court of Protection. In some cases, a Court-appointed Deputy may need to apply to the Court of Protection under Section 36 of the Trustee Act 1925 to act on behalf of the individual who lacks capacity. With extensive experience in Court of Protection applications and trustee management, our team is here to guide you through these complex processes. Find out more here: https://lnkd.in/e8tnTg4m #KingleyNapley #CourtofProtection #MentalCapacity #Trusts

🎙️ CoP Talks - Empowering Minds, Protecting Lives | Episode 8 - How can a Professional Deputy assist after a Personal Injury? In our eighth episode, experts Simon Hardy and Jemma Garside examine the responsibilities and management approach of a Professional Deputy appointed to oversee the finances and affairs of an individual who has received a significant damages award, often due to personal injury or medical negligence. Whether you are a client with a damages award, supporting a loved one in this situation, or working in the legal/financial fields, this podcast provides crucial insights into the role of a Professional Deputy. Learn how they can responsibly manage substantial sums to improve the client's quality of life significantly. Stay tuned for our weekly podcast updates. Watch episode eight here: https://lnkd.in/eQ9Wst47 #KingsleyNapley #CourtofProtection #Deputyship #PersonalInjury

Capacity blog 5 - Capacity to litigate As part of our capacity blog series, we're examining the concept of an adult's ability to participate actively in legal proceedings. Understanding capacity to litigate - for individuals pursuing or defending legal claims, such as compensation after a serious injury, capacity to litigate may be called into question, particularly if they have suffered a brain injury. The two-stage test applies to determine capacity (as outlined in Blog 1). Additionally, the individual must understand, with appropriate explanation, key aspects of the litigation process, including: - The nature of the claim and its funding - The likelihood of success - Important decisions that may arise during proceedings. Personal traits such as impulsiveness or volatility may also influence the assessment. If capacity is lacking - when an individual cannot conduct litigation, a litigation friend must be appointed to act on their behalf. If a Court of Protection Deputy manages their affairs, further applications may be required for permission to litigate or incur legal fees. Our team specialises in making Court of Protection applications for Deputies and guiding clients through complex legal processes. Read more here: https://lnkd.in/eRaPfT-5 #KingleyNapley #CourtofProtection #MentalCapacity

In their new blog, our legal experts Stephanie Mooney TEP, Chris Recker and Cally Brosnan address the variety of crucial issues you need to think about when including cryptoassets in your estate. Discover how to secure your digital legacy here: https://lnkd.in/gMHetkg8 #KingsleyNapley #PrivateClient #DisputeResolution #Crypto #EstatePlanning #DigitalAssets

 CoP Talks - Empowering Minds, Protecting Lives | Episode 7 - Can an attorney/deputy make gifts? In our seventh podcast episode, expert Lauren Eyre explores the rules and considerations around the types of gifts that can be made by attorneys or deputies acting on behalf of someone who lacks the mental capacity to make such decisions themselves. Whether you are serving as an attorney or deputy or are simply interested in understanding the parameters around gift-giving on behalf of a mentally incapacitated person, this podcast provides essential insights. Learn how to navigate this complex area while upholding your fiduciary duties. Stay tuned for our weekly podcast updates. Watch episode seven here: https://lnkd.in/gZDx8sep #KingsleyNapley #CourtofProtection #Deputyship

Excellent (if I do say so myself!) Kingsley Napley Private Wealth Group breakfast seminar on Undue Influence and Incapacity with my esteemed Private Client | Kingsley Napley and Dispute Resolution | Kingsley Napley colleagues Lauren Eyre, Laura Phillips and Kate Salter. Thank you to all our guests who came - and asked us questions! #privatewealth #privateclient #disputeresolution #COP #CTAP

Capacity blog 3 - Capacity to make a gift   As part of our capacity blog series, we consider the issue of assessing one's capacity to make a gift—a crucial consideration when gifting cash, possessions, or property.   When capacity is in doubt, the following test must be applied: - Understanding: does the individual comprehend the value, the recipient, and the gift's impact on their finances? - Weighing up: can they retain and rationally consider this information?   More significant gifts that significantly affect an estate require more understanding. If an individual lacks capacity, a Court of Protection application may be required for gifts outside the accepted rules.   Key points for deputies and attorneys: - Gifts must be for customary occasions, to reasonable recipients, and proportionate to the individual's estate. - Court approval is required for more significant or non-customary gifts.   How we can assist: our experienced team supports applications to the Court of Protection, including gifting authority.   Read more here: https://lnkd.in/e-zPaxjC   #KingleyNapley #CourtofProtection #MentalCapacity  

Commenting on Nigel Farage's pledge to scrap inheritance tax if his party were to come to power, James Ward TEP, who leads our Private Client team, told Professional Adviser that "he may think his promise to abolish IHT is a vote winner, with an increasing number of estates being hit by unreformed IHT thresholds. But he has not said where he would expect to make up the £8.3bn shortfall in revenue to the Treasury that the Office for Budget Responsibility forecasts this tax will deliver this year 2024/5." Read the full article here: https://lnkd.in/evTKU3tw   #KingsleyNapley #InheritanceTax #TaxReform

🎙️ CoP Talks - Empowering Minds, Protecting Lives | Episode 6 - What is a Statutory Will? In the following podcast episode, experts Sameena Munir TEP and Lauren Eyre discuss Statutory Wills, a special type of Will made by the Court of Protection for individuals who lack the mental capacity to create a standard Will themselves. Stay tuned for our weekly podcast updates. Watch episode six here: https://lnkd.in/ecC-Bmkj #KingsleyNapley #CourtofProtection #StatutoryWill #Will

Lovely evening with friends at the Private Client Global Elite Celebratory Dinner at the The Twenty Two - thank you ALM. And yes I did wear my “tin foil” number to the office - with a jumper! Such is the glamorous world of Private Client | Kingsley Napley. #privateclient #privatewealth #tax #trusts