The Jersey Royal Court has taken a divergent approach to rectification. Hugh Gunson and Thomas Watts analyse a recent decision The Jersey Royal Court’s conclusion that there is no merit in maintaining the fourth limb of the test for rectification is striking, particularly in view of the comments made by the Jersey Court of Appeal. …
Continue reading "Rectification: Clarifying the nature of the test"
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Wills & Trusts Law Reports | September 2015 #152The claimants were the executors of the will of the deceased dated 8 September 2000 whereby his residuary estate passed to his widow and three sons in equal shares absolutely. The first defendant was the deceased’s widow and the first claimant and second and third defendants were his sons.
Under the will, inheritance tax would be payable on the estate in respect of land and farming assets which did not qualify for agricultural property or business property relief on the three quarters of the residuary estate which had passed to the deceased’s sons. The beneficiaries decided that t...
Wills & Trusts Law Reports | June 2013 #130The appellants appealed from a first instance decision by Mr Recorder Chapman QC on 15 May 2012, which refused their application for an order for rectification of a conveyance that was executed on behalf of their mother (Mrs Day) by her solicitor (Mr Froud) who was acting as her attorney. The conveyance was dated 6 June 1985. The conveyance had transferred Mrs Day’s home from her sole name into the names or her and her son (the respondent) as beneficial joint tenants. The purpose of the transaction was to enable borrowing to be secured against the property by the respondent. Mrs Day died...
Wills & Trusts Law Reports | June 2012 #120The testator (T) died on 11 January 2005 leaving his share of the farming business they carried on together to the third defendant (PW) together with land. PW wished to exercise the opportunity to vary T’s will by deed of variation so as to pass this inheritance to his son, the claimant (RW) and so avoid the possibility of the disposition being a lifetime transfer taking effect as a potentially exempt transfer (PET) giving rise to an Inheritance Tax (IHT) liability should PW die within seven years of the gift. PW was concerned that opportunity to make such a deed might be swept awa...
