Equity, volunteers and unconstituted trusts: Certainty of subject matter

University of Greenwich | Trusts and Estates Law & Tax Journal | March 2022 #231
Mark Pawlowski considers whether a volunteer can enforce a promise to settle property Fletcher highlights the difficulty in any particular case in determining whether or not there is an intention to create a trust of the promise. In most cases the requisite intention will be absent and, therefore, will prove fatal to the existence of …

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Futter & anr v HMRC; Pitt & anr v HMRC [2013] WTLR 977

Wills & Trusts Law Reports | July/August 2013 #131

The first appeal concerned two settlements, made with non-resident trustees, by Mr Futter. Considerable ‘stockpiled’ gains were rolled up while the trusts were non-resident and, in exercise of the powers conferred by the trusts, new resident trustees were appointed and capital was distributed to Mr Futter and his children in the mistaken belief that the ‘stockpiled’ gains, which would be attributed to them, would be absorbed by allowable losses that had been realised, so that no liability to capital gains tax would arise. In advising as to the effect of s87 of the Taxation a...