Recorded Webinar: The Long Shadow of Unpaid Present Entitlements in the Estate Plan

An increasing number of private family groups have unpaid present entitlements sitting in the group with no strategy in place as to how to eliminate the liability. This session considers how unpaid present entitlements can impact on estate planning, including exploration of:

• How do unpaid present entitlements arise?

• Forgiveness of unpaid present entitlements:

  • Does forgiveness of an unpaid present entitlement in the will constitute a specific gift for the purposes of family provision claims?

  • Are there any tax consequences triggered on forgiveness of an unpaid present entitlement?

• Managing unpaid present entitlements in bucket companies:

  • Pre versus post-16 December 2009 unpaid present entitlement position

  • What happens when the trust vests?

• Impact of unpaid present entitlements on value of the estate