Postgraduate Course: Advanced Private Client (Practical Elective) (LAWS11429)
Course Outline
| School | School of Law |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Not available to visiting students |
| SCQF Credits | 5 |
ECTS Credits | 2.5 |
| Summary | This course aims to provide the student with a practical approach and hands-on learning experience in relation to Private Client work, to greater depth, and covering more topics, than in the core course. It is designed to encourage in-class discussion, reflective learning, self-study and use of the ongoing skills acquired on the Diploma core courses.
The course covers lifetime and post-death tax planning, tax allowances and reliefs, trusts including their tax treatment, the practicalities of running a trust, Adults with Incapacity issues and foreign aspects of Private Client matters. |
| Course description |
On successful completion of this course, you should be able to:
- Advise on the legal and tax implications of making lifetime gifts and tax planning for death, including IHT, CGT and Income Tax implications;
- Describe the classification and types of trusts, and advise and comment on their appropriateness in wealth and estate planning;
- Understand and advise on the taxation of each type of trust;
- Understand the various administrative stages of a trust from inception to winding up;
- Understand the factors to be considered in making a valid, tax-efficient will;
- Understand the legal management of an executry estate and assess the opportunities for post-death tax planning;
- Understand the factors affecting a client¿s residence and domicile and their effect on the client¿s wealth planning needs;
- Understand and advise on the use of powers of attorney and the alternatives where an adult no longer has capacity;
- Understand the ethical issues including knowing your client and whose interests you are representing;
The objective of the course is to enhance your legal skills and knowledge in this area of the law. It is also aims to enhance and consolidate your knowledge, understanding and personal reflection on the Law Society of Scotland¿s PEAT 1 Mandatory and Core Outcomes, which you have already experienced and shall continue to experience on the Diploma core courses.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
|
Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Course Delivery Information
|
| Academic year 2024/25, Not available to visiting students (SS1)
|
Quota: None |
| Course Start |
Block 4 (Sem 2) |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
50
(
Seminar/Tutorial Hours 21,
Summative Assessment Hours 1,
Other Study Hours 8,
Programme Level Learning and Teaching Hours 1,
Directed Learning and Independent Learning Hours
19 )
|
| Additional Information (Learning and Teaching) |
Independent Study
|
| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
|
| Additional Information (Assessment) |
The Advanced Private Client elective is assessed by continuous assessment. Students will receive a percentage mark for the whole course. 40% of this will be based on class performance, and 60% of this will be based on a combination of two assessed written and two assessed oral exercises. |
| Feedback |
Feedback is provided to student in various forms. Students will receive verbal feedback from tutors on in-class presentations, general comments on class assignments when these are handed back in class and, in general, on class performance, mainly looking at the class as a whole. Students also receive specific written feedback on assignments, where necessary. |
| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Advise on the legal and tax implications of making lifetime gifts and tax planning for death, including IHT, CGT and Income Tax implications. Describe the classification and types of trusts, and advise and comment on their appropriateness in wealth and estate planning. Understand and advise on the taxation of each type of trust. Understand the various administrative stages of a trust from inception to winding up.
- Understand the factors to be considered in making a valid, tax-efficient will. Understand the legal management of an executry estate and assess the opportunities for post-death tax planning. Understand the factors affecting a client¿s residence and domicile and their effect on the client¿s wealth planning needs.
- Understand and advise on the use of powers of attorney and the alternatives where an adult no longer has capacity.
- Understand the ethical issues including knowing your client and whose interests you are representing.
|
Reading List
Drafting Wills In Scotland (2nd Edition 2009) ¿ Barr, Biggar, Dalgleish and Stevens
The Scots Law of Succession (2nd Edition) ¿ Hilary Hiram
Succession (3rd Edition 2001) ¿ D R Macdonald
Revenue Law ¿ Principles and Practice (32nd edition, 2014) General Editor Natalie Lee
Trusts, Trustees and Executors ¿ WA Wilson and AGM Duncan
Trusts and Estates in Scotland (new edition 2015/16) ¿ A Garden and S Mackintosh
Drafting for Succession (2nd Edition) ¿ John Kerrigan
Mental Health, Incapacity and the Law of Scotland (2011) Hilary Patrick |
Additional Information
| Graduate Attributes and Skills |
All elective courses on the Diploma require students to develop the following skills:
Skills and abilities in Research and Enquiry
¿ problem solving
¿ analytical thinking
¿ critical thinking
¿ independent research
¿ the ability to handle complexity and ambiguity
Skills and abilities in Personal and Intellectual Autonomy
¿ ethics and social responsibility
¿ self-awareness and reflection
¿ independent learning and development
¿ creativity and inventive thinking
¿ decision making
Skills and abilities in Communication
¿ interpersonal skills
¿ verbal communication and presentation
¿ written communication
¿ influencing and negotiation skills
Skills and abilities in Personal Effectiveness
¿ planning, organising and time management
¿ commercial / professional / situational awareness
¿ team working
¿ assertiveness and confidence
¿ flexibility |
| Additional Class Delivery Information |
Seven workshops, each lasting 3 hours. |
| Keywords | Diploma,Practical Elective,Advanced Private Client |
Contacts
| Course organiser | Ms Laura McBrien
Tel:
Email: Laura.mcbrien@ed.ac.uk |
Course secretary | Miss Charlotte Telfer
Tel: (01316) 508249
Email: ctelfer@ed.ac.uk |
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