Wills & Trusts Law Reports | Summer 2019 #175Following decree absolute in October 2017, the husband sought a lump sum payment from the wife, out of two discretionary trust funds of which the wife was settlor, with a combined value of £17.5m, the trustee of which was an offshore company. The beneficiaries were the ‘family members’ of the settlor. The letter of wishes directed the trustee to act on the advance of her father. The trusts were created in June and August 2015 and funded by the wife’s father, via the wife, between March and June 2016, the wife passively facilitating their funding. Although the source of the funds in the t...
Claire Blakemore suggests that when dealing with trust assets, even the powers of the family courts have their limits ‘Any inconsistencies between how the trust is used or the trust documentation and the presentation to the court can have a significant impact on the outcome.’ The law on the treatment of trusts on divorce is …
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