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Fiona Campbell-White and Henrietta Watson discuss the current approach of the courts to the construction and rectification of wills ‘When interpreting a contract, the aim is to identify the intention of the party or parties to the document by interpreting the words used in their documentary, factual and commercial context without reference to any subjective …
Continue reading "Wills: Flexible interpretation"
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Steve Appleton and Joshua Eaton outline HMRC’s new approach to trusts and the taxation of index-linked loans ‘The nature of an index-linked loan between trustees and the surviving spouse represents a personal contractual relationship rather than a commercial one.’Before the introduction of the transferable nil rate band (TNRB) on 9 October 2007, the nil rate …
Continue reading "Tax: Testing the waters"
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Simrun Garcha reports on the charitable status and disposal of assets of a now defunct religious sect ‘While this case does not decide new matters of principle, it is likely to be of interest to charity law practitioners given that it provides an insight into some complex issues.’The High Court’s recent decision in Buckley v …
Continue reading "Charity Law: What is charitable?"
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Gillian Coumbe QC discusses a recent case where the New Zealand Supreme Court considered the principles governing disclosure of trust information to beneficiaries ‘There is no absolute right to any trust document. However, where the request is made by a close beneficiary for access to core documents such as the trust deed and accounts there …
Continue reading "International Trust Law: Disclose or withhold?"
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Katherine Pymont reflects on the lessons from Roberts v Fresco [2017] ‘In order for a personal representative to bring a claim, a cause of action must have vested in the deceased before his or her death.’The High Court has held in Roberts v Fresco [2017] that a husband or wife’s right to claim under the …
Continue reading "1975 Act Claims: Dead end"
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Nigel Sanders examines changes of trustees and protectors in contentious circumstances ‘The court held that the appointment of the new trustee and removal of the trustees were such closely linked decisions and exercises of the powers of appointment, that they stood and fell together.’Most modern trust instruments will contain provisions which grant certain individuals the …
Continue reading "Trusts: Do your homework"
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Simon Edwards sums up key recent guidance of which practitioners should be aware ‘So far as attorneys are concerned, the terms of the power should make it clear whether or not the attorney can make decisions on the donor’s behalf even if the donor has capacity to make those decisions.’ March heralded not only spring …
Continue reading "Guidance Update: Practice tips"
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John Greenfield and Elaine Gray outline recent Channel Island decisions on the personal liability of trustees ‘Under the Art 32(1)(a) regime, the trustee remains liable in law on the obligation and is the person against whom an action must be brought by the creditor.’ This article reviews a series of judgments delivered in 2014 and …
Continue reading "Trustees: Who pays?"
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Mary Ashley looks at modernising trusts through variation ‘The court’s jurisdiction does not extend to allow for a resettlement of the trust – the court may only consent to arrangements which vary or revoke existing trusts.’ Once a trust is created, the trustees are effectively bound by the terms of it. At times, this can …
Continue reading "Variation: Keeping up-to-date"
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Geoffrey Shindler finds the current public funding predicament all too familiar ‘What we regard as the basics of our civilisation is under such a severe challenge that we are all being asked to contribute to provide what we thought we were providing by way of our general taxation contribution.’Two articles caught my eye in a …
Continue reading "Musings From Manchester: Counting the coppers"
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