Continue reading "Third Parties: Crossing the line"
P v P [2015] EWCA Civ 447
Wills & Trusts Law Reports | July/August 2015 #151A husband and wife met in 1999 and married in 2003. They had one child together, of primary school age at the time of the proceedings. In 2005 the husband and wife moved into a farmhouse owned by the husband’s parents. In 2009 the husband’s parents settled the farmhouse on a discretionary trust for the benefit of their children and remoter descendants. Subject to the power to appoint the capital and income to the discretionary beneficiaries, the farmhouse was held on trust to pay the income to the husband for life, and it was declared that the making of any land comprised within the trus...
Trusts: Available assets
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Nuptial Settlements: Break it up
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Quan v Bray & ors [2014] EWHC 3340 (Fam)
Wills & Trusts Law Reports | June 2015 #150In 2000 Li Quan (the wife) created a charity called Save China’s Tigers. In 2002 her husband Stuart Bray (the husband) established a fully discretionary trust in Mauritius called the Chinese Tigers South Africa Trust (CTSAT) – the sole beneficiary of which was the charity.
In July 2012 the wife was removed as a director of the charity and in August 2012 she filed for divorce and made no mention of the trust. On 17 July 2013 she filed an application by way of amendment to her form A seeking a variation of the post nuptial settlement. The core of her case being that CTSAT was ...
International Families: Proceed with caution
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Tchenguiz-Imerman v Imerman [2013] EWHC 3627
Wills & Trusts Law Reports | January/February 2014 #136Beneficiaries of a number of offshore discretionary trusts were joined as parties on their application to contested financial remedy proceedings. The court had made an order that these beneficiaries should disclose copies of documents provided to them for the purposes of an application that had been made to the Royal Court of Jersey (RCtJ) by the trustee of some of those trusts. The RCtJ had given the beneficiaries permission to make such disclosure if they were ordered to do so but expressed concerns about and invited the court not to require such disclosure [2012] (2) JLR 51.
Th...
Financial Provision: Interim measures
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BJ v MJ [2011] EWHC 2708 (Fam)
Wills & Trusts Law Reports | April 2012 #118The husband (H) and the wife (W) were both 65, having married in 1980. There was one child of the marriage (C), aged 25. The former matrimonial home was Green Farm, a substantial property set in 72 acres in Kent. Trust assets fell to be divided following divorce.
In order to mitigate tax on the floatation of his company (ABC), two Jersey trusts were created by H in 1994 (No. 1 Trust and No. 2 Trust) and a company incorporated in the British Virgin Island called Giloch Investments Ltd (Giloch). No. 1 Trust was a discrertionary trust for a class of beneficiaries comprising H, W, C, ...
Trusts: Every penny counts
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