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Technical advice is no longer sufficient. Geoffrey Shindler outlines how the world of the trust and estate practitioner has changed over the past 50 years ‘Trusts seem to be reported, almost per se, as wicked and evil. We know that they are not and, indeed, are the opposite. So, we have to consider not only …
Continue reading "Musings From Manchester: Reputation counts"
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In Blades v Isaac [2016] the trust fund paid a high price for the trustees’ initial refusal to disclose accounts. Tamasin Perkins analyses the judgment ‘Costs do not always follow the event. Trustees (both lay and professional) can lose and lose badly and still not have to pay costs from their own funds. This can …
Continue reading "Costs: Once more unto the breach"
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Hannah Southon highlights a case that provides new guidance on the status of protectors in English law ‘The onus is on the draftsman to ensure that protectors’ powers, duties and the constitution that governs them are thoughtfully crafted, although of course no such draftsman can widen the court’s jurisdiction in this respect.’There have been very …
Continue reading "Protectors: An awkward position"
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Luke Busbridge examines the outcome of The Trustees of the David Zetland Settlement [2013], in which it was argued that a property business was eligible for 100% business property relief ‘Where a property business is being considered, the assumption is that it will not qualify for business property relief – unless the landlord can show …
Continue reading "Business Property Relief: Going for gold"
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Lydia Pilati considers the lessons to be learned from Brennan v Prior [2015] on contesting the validity of a will ‘Brennan highlights that although the burden of proof is upon the party seeking to propound the will, it is not simply enough to propound a will on due execution and capacity when the suspicion of …
Continue reading "Wills: A textbook claim"
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Geoffrey Shindler puts his mind to the neglected question of how Brexit would affect the trusts and estates world ‘We may have to accept that what might benefit a testator in the UK and will currently benefit some person in the EU may not be the case if we are no longer in the EU. …
Continue reading "Musings From Manchester: Follow the exit signs?"
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Alexander Learmonth gives the lowdown on the probate fees consultation ‘This naivety in the proposal’s formulation leads one to think that enforcement of the new fees would be problematic for Probate Registry officers, who have neither the training nor the investigative resources to act as tax inspectors.’ What fantastic value for money we get from …
Continue reading "Probate: Fee reign"
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Russell Clark and Paula Fry discuss the Royal Court of Guernsey’s guidance on the applicable test for the removal of a protector in Re the K Trust ‘The court was satisfied that, on the facts, there was more than personal hostility between the protector and the widow and that the breakdown in relations was having …
Continue reading "Protectors: Trust issues"
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Simrun Garcha provides a round-up of relevant Charity Commission decisions ‘The enhanced rigour with which the Commission holds charities accountable is likely to increase now that the Charities (Protection and Social Investment) Bill has been given Royal Assent.’ The Charity Commission, as the sole, independent regulator of charities in England and Wales makes a plethora …
Continue reading "Charities: A robust approach"
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Peter Nellist highlights a key exemption to inheritance tax and discusses the importance of a lasting power of attorney ‘The proper use of a resolution, as opposed to relying on a pattern building up from past gifts, can make it possible for the s21 exemption to apply to what otherwise HMRC would argue was a …
Continue reading "IHT: Showing resolved intent"
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