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Naveed Ali outlines the development of the constructive trust principle to aid cohabitees ‘The court should establish the intentions of the parties with evidence; where intention cannot be inferred, the court may impute an intention which the parties may never have founded.’ The regulation of proprietary rights after a breakdown of marriage is extensive: the …
Continue reading "Constructive trusts: Keeping up with the Jones"
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Elaine Roche reviews Gill Steel’s book on the residence nil-rate band Residence Nil Rate Band: Practical Thoughts on its Use and Application Gill Steel ISBN13: 9780244693756 July 2018, published by LawSkills Ltd £48.00 In April 2017, the residence nil-rate band (RNRB) came into effect, some ten years after the Conservative Party first announced that they …
Continue reading "Book review: Shining a light into murky corners"
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Josh Lewison asks whether AI could be used effectively to write wills ‘In my view, the introduction of AI to the will-drafting landscape is unlikely to give rise to any greatly complex new problems in liability or redress.’ According to a recent survey, a large proportion of members of the public would not want to …
Continue reading "Will drafting: Tech support"
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Timothy Sherwin considers tax-efficient planning for attorneys under lasting powers of attorney ‘The starting point for assessing the reasonableness of any gift is that attorneys are in a fiduciary position in respect of P, and so must act in a manner appropriate to a fiduciary, including by avoiding self-dealing and conflicts of interest.’ Attorneys under …
Continue reading "Tax planning: It’s good to give"
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Geoffrey Shindler urges trust practitioners to be less retiring ‘We have got to stop paranoid regulatory officials from preventing the sensible running of our business.’ Welcome to 2019, the year of… well who knows but in cricketing terms The Ashes in England and the World Cup, none of which involves any country lying south of …
Continue reading "Musings from Manchester: Le modèle français"
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The Office of Tax Simplification has published the first part of its report into IHT. Sarah Murphy discusses ‘These observations drawn from the OTS review certainly seek to move the system into a position whereby it is future proofing its relevant application.’ In January 2018 the Chancellor asked the Office of Tax Simplification (OTS) to …
Continue reading "IHT: Bringing tax into the digital age"
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Peter Shaw QC explores the principles of ascertainment of beneficial ownership in a property purchase tainted with illegality ‘Having found that Mr and Mrs Kliers were the true beneficial owners, it would perpetuate the fraud to leave the property in Mr Schmerler’s ownership (without making a declaration of beneficial ownership). The illegal activities were required …
Continue reading "Beneficial ownership: Honesty is the best policy"
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Alessia Paoletto outlines the implications of the latest ECJ judgment ‘The ECJ’s judgment in Oberle follows on the footsteps set by Mahnkopf. However, it is set to have much further reaching effects than its predecessor, in that it does not deal exclusively with a question concerning an individual provision of national law, but rather, with …
Continue reading "European Succession Regulation: And then there were three"
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David Rees QC and Joseph Rich examine a case that highlights common problems with lasting powers of attorney ‘If the court determines that an LPA contains a provision which would be ineffective, it must either sever the provision or direct the Public Guardian not to register the instrument.’ The Public Guardian v DA; BP [2018] …
Continue reading "Lasting powers of attorney: Pay close attention"
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Dominic Lawrance and Catrin Harrison highlight the unsettling reality of protected settlements ‘In light of this latest statement from HMRC, the issue of offshore income gains (OIGs) may now lead to litigation, if there is a foreign-domiciled settlor with sufficient tax exposure and sufficient temerity.’ Recent Finance Acts have made major changes to the UK’s …
Continue reading "Taxation of offshore trusts: Gremlins in the legislative machine"
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