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Emma Holland and Luca del Panta look at an international family dispute which has lessons for trustees and PRs defending removal claims ‘At the costs hearing, the widow and daughter argued that the same general rule should apply on the basis that they had been “successful”, particularly as Dr Neupert had effectively abandoned his counterclaim, …
Continue reading "Costs: The cost of obstinacy"
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Adam Carvalho and Joseph de Lacey examine the priority of trustee indemnities ‘The original trustee argued that a pari passu approach was wrong in law, and that its claim had priority over the other creditors of the Z II Trust.’ Readers will of course know that trustees have a right to be indemnified for costs …
Continue reading "Trustees: First in time, first in line?"
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Geoffrey Shindler returns to the question of accountability for regulators ‘Regulators can, and do, challenge us; we ought to read what they put into the public domain and challenge them when we think that they are wrong or unhelpful or out of touch.’ Our lives are dominated by the B word and the R word. …
Continue reading "Musings from Manchester: Back to basics"
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The Office of Tax Simplification (OTS) has published the second part of its report into IHT. Hannah Bates and Russell Kaminski discuss ‘Perhaps if the OTS recommendations are adopted and, if the inheritance tax regime is adequately simplified, the unpopularity of inheritance tax may perhaps be dispelled (at least a little).’ The Office of Tax …
Continue reading "IHT simplification: De-toxing tax?"
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Oliver Auld examines the limitations of ‘anti-Bartlett’ clauses following Zhang Hong Li v DBS Bank ‘The purpose of an “anti-Bartlett” clause is to nullify (to the extent possible) the trustee’s duty to enquire into or interfere in the conduct of any business investment under its ownership or control.’ The decision of the Hong Kong Court …
Continue reading "Professional trustees: Managing risk"
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Nicholas Harries and Charlotte Kynaston explore draft inheritance tax legislation on additions to settlements and transfers between settlements ‘The facts of the Dreelan case were unusual, but the key message was that non-UK property transferred between settlements could retain its excluded property status, even if the settlor was UK domiciled or deemed domiciled at the …
Continue reading "IHT: Track changes"
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Sukhninder Panesar looks at recent case law on liability for knowing assistance ‘In order for a stranger to be held liable for assisting in a breach of trust, a number of requirements must be met.’ What constitutes dishonesty in the English legal system has continued to challenge both civil and criminal courts. Over the last …
Continue reading "Trusts: Test of dishonesty revisited"
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Will drafters need to be careful of how they frame conditions applying to testamentary gifts. Michael O’Sullivan explains ‘The judge held that ignorance of the condition did not make it impossible or incapable of fulfilment in the sense required in the authorities which Judith and Janet had relied on.’ The case of Naylor v Barlows …
Continue reading "Wills: Timed out?"
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Ian Blaney and Ben Nichols report on an unusual case that contains a warning for charity trustees of the dangers of adverse possession ‘King would support the view that the claimant must factually enter onto the discrete land which they are seeking to adversely possess or clearly take steps to exclude the true owner from …
Continue reading "Charity land: Tomb raider"
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The unusual success of an undue influence claim overturning a will and lifetime transfer sheds light on best practice when dealing with clients who do not speak English. Aidan Briggs explains ‘The importance of a language barrier cannot be overstated in relation to the giving of instructions and the taking of advice.’ Cases where the …
Continue reading "Contested wills: Beware cultural conventions"
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