Wills & Trusts Law Reports | Summer 2018 #172The claimant was the trustee of an employment benefit trust (the EBT). The trustee had an interest in a company that owned and controlled a business (the utility). The beneficiaries of the EBT were the former and current employees of the utility and other group companies and their dependants. The trustee entered into a sale and purchase agreement for the sale of the EBT’s interest in the company, conditional upon certain relief from the court. Following the sale, there would be a distribution of the trust property amongst various beneficiaries.
Held
The fol...
The Royal Court of Guernsey has dismissed an application to admit privileged communications. Joseph de Lacey discusses ‘In order to test the decision-making process, D applied for disclosure of documents evidencing the decision and the decision-making process, permission to adduce expert evidence as to the trusts‘ value, and permission to cross-examine the trustees.‘ The Royal …
Continue reading "The ‘without prejudice‘ rule: A sacred right?"
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Anthony Turner and Adam Carvalho give the lowdown on the sale of corporate assets by trustees ‘It is important for trustees to make an early decision about what is on offer as part of the sale and to raise this with the buyer so that any discussions in relation to price (and choice of buyer) …
Continue reading "Trustees: Ensuring a smooth sale"
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Wills & Trusts Law Reports | Summer 2017 #168L applied pursuant to s8(1) of the Administration of Estates Act 1990 to remove M as her co-executor and co-trustee of the estate of their father. The beneficiaries of the estate were L (50 percent) and M’s two children (50 percent). The estate was modest including some personal chattels, a small bank account and a property worth circa £210,000.
M and his wife had issued a claim against the estate for £170,229, allegedly owed for nursing care provided to the deceased (the litigation).
L averred that M should be removed as trustee due to the ligation ...
Martin Beard and Zoe Fleetwood discuss the issues that can arise on disposal of a body and cryo-preservation ‘In Re JS the judge made clear it was not the role of the court to give directions for the disposal of the body, but rather to resolve disagreement about who might make the arrangements.’ Many will …
Continue reading "Estate Administration: Put to rest?"
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James Lister and Fenner Moeran QC analyse a case that demonstrates how a Beddoe order is applied in practice ‘The trustees were faced with a significant difficulty: how to realise the interests of the beneficiaries to divide the property equally between them when one of them was in occupation of the property to the exclusion …
Continue reading "Wills: Pub talk"
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