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In a time of uncertainty Geoffrey Shindler urges private client practitioners to get back to basics ‘While we are in this world of uncertainty it would appear that two years is not enough uncertainty and we may have the added benefit of a transitional period.’ We may, or we may not, in Chinese terms, live …
Continue reading "Musings From Manchester: Risk management"
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Professor Nick Hopkins and Spencer Clarke offer an overview of the Law Commission’s consultation paper on the law of wills ‘Central to the Law Commission’s project is the principle that the law should do all it can to enable people to ensure that their testamentary intentions are given effect.’ The Law Commission published its consultation …
Continue reading "Law Reform: Willing to change?"
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Martin Terrell and Louise Mathias-Williams set out the lessons from the Public Guardian’s recent decision over severance applications ‘The element which unites the cases is the consistency of District Judge Eldergill’s approach in endeavouring to ensure that a donor’s intention as to how their affairs may be managed in the future is respected and upheld …
Continue reading "Court Of Protection: Aiming to enable"
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Gavin Ferguson and Chris Hards discuss the rise in the use of protectors ‘The role of protectors in offshore jurisdictions has undergone a significant change in the few decades since their introduction.’ The offshore fiduciary industry began to see protectors being introduced during the mid to late 1980s. The rise in the popularity of their …
Continue reading "Protectors: An invaluable resource"
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Finance Bill 2 contains changes to the taxation of non-doms and more. Alex Ruffel and Tom Barber give the lowdown ‘Finance Bill 2 introduces protections for certain settlements. This involves the creation of two new concepts: protected foreign-source income and “tainting”.’ The UK government announced on 13 July 2017 that it will introduce a second …
Continue reading "Tax: Trustees take note"
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Iain Managhan examines recent case law on the capacity test to revoke a lasting power of attorney ‘Although the respondent was capable of understanding the information relevant to the decision to revoke the lasting power of attorney (LPA), and was able to retain this information and communicate her decision, she was not able to use …
Continue reading "Mental Capacity Act 2005: A balancing act"
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John Dickinson assesses whether a proprietary estoppel solution can replace the need for a binding contract ‘Under the doctrine of mutual wills, there is a need for a legally binding contract as opposed to a mere moral obligation not to depart from the terms of the original will.’ HHJ Matthews, sitting as a judge of …
Continue reading "Mutual Wills: Can a mirror will be changed?"
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Paul Saunders looks at when trustees should submit details of trust income to HMRC ‘It is in the interest of HMRC staffing levels for checking returns to have a wide definition of “mandated” although, of course, the wider the definition the more resources may be required to actively police compliance.’ What does ‘mandated’ mean when …
Continue reading "HMRC: Have you mandated?"
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Siân Hodgson considers the differing statuses of spouse and cohabitee in claims under the Inheritance (Provision for Family and Dependants) Act 1975 ‘While one judge may exercise his or her discretion in a different way from that of another judge (making 1975 Act claims inherently risky), it is the factors which a judge takes into …
Continue reading "The 1975 Act: Discretion to dispose"
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Claire Blakemore and Jemma Thomas give the lowdown on trusts and divorce ‘There are examples of cases where the trust was not managed consistently with all of the trust documents. This can be damaging to those seeking to protect trust assets on divorce.’ Establishing whether the court is likely to view the trust as a …
Continue reading "Nuptial Settlements: Consistency is key"
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