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Certain new tax proposals hark back to 1970s ideology. Geoffrey Shindler separates the good from the bad ‘What was mooted in the 1970s, and has now been revived by the Resolution Foundation, is whether instead of being a tax on estates, ie a tax on the donor or the testator, death tax ought to be …
Continue reading "Musings from Manchester: Plus ça change"
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William Ahern urges practitioners to oppose the CRS Mandatory Disclosure Rules while there is still time ‘The Mandatory Disclosure Rules (MDRs) potentially require those of us who advise clients on CRS issues to report our clients and everyone in the relevant structure chain to their local tax departments.’ Many of you (of a certain age) …
Continue reading "Common reporting standard: Coming to the boil"
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Mark Pawlowski considers a recent decision on the enforceability of pre-nuptial agreements ‘It was essential that both parties should have entered into the agreement of their own free will without undue influence, fraud or misrepresentation, and with a full appreciation of its implications.’ The recent Court of Appeal decision in Versteegh v Versteegh [2018] has …
Continue reading "Pre-nups and private client: Take note"
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The EU’s 5th Anti-Money Laundering Directive places further obligations on private client practitioners. David Dorgan explains ‘5AMLD will amend the position so each member state must ensure compulsory disclosure (public access) of a limited set of information on beneficial owners of firms and other legal entities engaging in profit-making activities.’ The European Parliament on 19 …
Continue reading "Anti-money laundering: Register interest"
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Joss Knight examines a claim for a common intention constructive trust where a cohabitee has passed away ‘The administrators found themselves defending proceedings on behalf of the estate and attempting to deny the existence of a conversation to which they were not, on anyone’s case, a party.’ Claims for a declaration that property is held …
Continue reading "Constructive trusts: Gone, but not forgotten"
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Alessia Paoletto reports on two recent cases which put European succession requirements into context ‘The Regulation must be interpreted as precluding refusal to recognise the material effects of a legacy by vindication provided for in the law applicable to the succession, where such refusal is based on the fact that the legacy created a right …
Continue reading "EU succession law: An objective view"
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James Ferguson, Katie Male and Mark Lindley discuss a recent case that demonstrates the growing role of pre-nuptial contracts in estate planning ‘As a general rule the provision for the spouse in the will should be at least as generous as in the pre-nuptial agreement (PNA), if not more so, to minimise exposure to a …
Continue reading "Estate planning: The importance of autonomy"
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Vlad Macdonald-Munteanu reviews the quantification of awards under the Inheritance (Provision for Family and Dependants) Act 1975 for elderly claimants ‘The take-away point is to help the court help you by ensuring that all figures are backed up with evidence and, where appropriate, expert reports.’ For many years, practitioners and judges alike have grappled with …
Continue reading "1975 Act claims: What is ‘maintenance’?"
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A recent case defines the scope of the Court of Protection for dealing with the variation of trusts. Marie Batchelor explains ‘While a minor has the legal ability to make some decisions, or enter into some agreements, it is widely accepted that a minor does not have the ability to vary a trust.’ The Variation …
Continue reading "Trusts: Adults only"
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Sally Goodger discusses a case which debated the circumstances in which a letter of wishes should form part of the will ‘All executors are potentially within the scope of s50 and if circumstances arise which impede the fulfilment of testamentary wishes, the court can exercise its statutory jurisdiction.’ Judge Russen QC handed down his judgment …
Continue reading "Construction: When a conflict of interest leads to court"
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