Tue11212017

Last updateTue, 24 Feb 2015 5pm

Daisy Brown explores how the courts will apply equitable accounting principles to co-owned trust property

In the judgment handed down on 7 April this year in Davis v Jackson [2017], Snowden J had cause to consider in detail the principle commonly referred to as ‘equitable accounting’ between beneficiaries of trusts of land. The context was a claim by a trustee in bankruptcy for possession of a jointly-owned property and the facts were unusual, but the judgment is a welcome analysis of the more general right to an account between co-owners in a post-TLATA (Trusts of Land and Appointment of Trustees Act 1996), post-Stack v Dowden regime.

Paul Ridout and Jelena Serbic report on the Law Commission’s latest proposals for changes to charity law

In August 2017 the Law Commission published its report Technical Issues in Charity Law, incorporating a draft Charities Bill. The Commission’s proposals form part of its charity law reform project and also pick up issues identified in Lord Hodgson’s 2012 review of the Charities Act 2006.

Jennifer Emms considers the outcome of schemes used to reduce IHT on the family home and outlines best practice

I am a fan of all things sweet, in particular, cake, whether of the sponge, fairy, or fruit variety. Autumn is a delightful time of year, not just due to the changing leaves and the start of crisp, cold days but because it heralds the beginning of my firm’s ‘bake off’. Contestants battle it out to wow their colleagues with an array of confectionary masterpieces and it is impossible to wander the corridor without appreciating the aroma of freshly baked goods: cookies; brownies; muffins… I digress. Lord Hutton once succinctly and, in my view, aptly, described the inheritance tax ‘gifts with reservation of benefit’ (or GWROB, as they are known) rules as legislation which ‘does not allow a donor to have his cake and eat it’. However, he also noted that (at least at that time) ‘there is nothing to stop him from carefully dividing up the cake, eating part and having the rest’.

Robert Sheridan discusses current thinking on interpreting homemade wills

At the time of his death, the testator, Mr Veljko Aleksic, was a very wealthy man. He had built up a property and share portfolio in the region of £2,000,000. He was well-placed to afford the modest cost of instructing a solicitor to draw up his will.

A recent Privy Council case indicates how the court will determine remedies and damages for breach of fiduciary duty. Joseph de Lacey explains

On 27 March 2017 the Privy Council (PC) gave judgment in Akita Holdings Ltd v The Honourable Attorney General of The Turks and Caicos Islands [2017]. The judgment and the decisions of the lower courts provide a useful summary of the principles to be applied when determining:

Jo Summers reviews the Law Commission’s will consultation from the point of view of the practitioner

On 13 July 2017, the Law Commission published its consultation paper Making a Will (No 231). The paper contains a number of proposals for reforming the law of wills in England and Wales. The paper also launched a consultation into the proposals, with the formal consultation period ending on 10 November 2017. It is understood that late responses, if not too late, will be considered.

Geoffrey Shindler questions whether the hurricane of new regulations will prevent financial crime

We cannot go on like this. Not only have we reached the end of our emotional tether, but we have reached the end of our physical and mental capacity to deal with the ever-increasing demands thrust upon us by the regulators of this world who have now clearly taken over it.

Fiona Debney examines a case that demonstrates the pitfalls of not taking legal advice before purchasing property

The case of Insol Funding Company Ltd v Cowlam [2017] was heard by the High Court on 16 February 2017.

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