This category can only be viewed by members.
Page v West [2010] elucidates the circumstances in which trustees should seek guidance from the court, as Olivia Knowles and Lynne Gregory explain Mr Justice Vos commented that it was unreasonable to expect trustees to seek planning permission in the current economic climate without the support of the majority of the beneficiaries.The application before the …
Continue reading "Trustees: Doing the right thing"
This post is only available to members.
Richard Wilson explains how intention is being given greater weight in will construction Scarfe v Matthews had all of the ingredients that the tabloids love: a wealthy and famous testator, children (both natural and adopted) wives, a mistress, a villa in St Tropez and, of course, a dispute over the terms of a will. As …
Continue reading "Guest Editorial: Saying what you mean"
This post is only available to members.
Edward Rowntree gives an update on Morris v Davies A will shall be treated as properly executed if its execution conformed to the internal law in force in the territory where it was executed or in the territory where, at the time of its execution or of the testator’s death, he was domiciled. or had …
Continue reading "Costs: The final say on domicile and costs"
This post is only available to members.
Jo Summers examines HMRC’s consultation on relevant property charges for trusts As the consultation document explains, there is clearly a need to examine the relevant property regime. It is complicated, difficult to administer and probably does not raise much tax. On 13 July 2012, HMRC published a consultation on the inheritance tax (IHT) charges that …
Continue reading "IHT: Ever wanted the chance to write tax legislation?"
This post is only available to members.
Lucy Edwards outlines the changes in the second edition of the STEP Standard Provisions A balance needed to be struck between the potential unfairness that may result from trustees being heavy-handed with their powers on the one hand, and the usefulness of having greater flexibility on the other. The following scenario will be familiar to …
Continue reading "Wills: A new standard"
This post is only available to members.
Judith Millar and John Darnton guide the private client adviser through the minefield of cross-border pre-nups Although decisive weight may now be given to a pre-nuptial agreement, there is still a weighing exercise, involving judicial discretion, under s25 Matrimonial Causes Act 1973 and the outcome of that process can never be guaranteed. While private client …
Continue reading "Family And Trusts: For richer, for poorer"
This post is only available to members.
Victoria Sweeting considers the unusual case of Howard v Howard-Lawson Name and arms clauses can be found in precedent books dating as far back as 1787 and it seems that no general objection to them was raised until 1945. In October 2011 the case of Howard v Howard-Lawson [2011] came before the Court of Appeal. …
Continue reading "Name And Arms Clause: Blast from the past"
This post is only available to members.
Guy Rendell and Matthew Hansell discuss the tax-planning opportunities that can arise upon divorce Depending on the size of any potential gains, it might not be prudent to fund a lifetime trust and crystallise the gain without the benefit of holdover relief. As all private client practitioners know, trusts offer considerable benefits: flexibility, protection, control …
Continue reading "Divorce And IHT: Teamwork saves tax"
This post is only available to members.
David Pickering finds Sidney Ross’s updated book a valued companion Inheritance Act Claims: Law and Practice (3rd ed) by Sidney Ross £175.00 ISBN: 9780414048515 Published 26 October 2011 by Sweet & Maxwell What every busy practitioner needs in this ever-faster moving legal world, where clients demand an instant answer, is a ‘trusted adviser’ near to …
Continue reading "Book Review: If in doubt reach for Ross"
This post is only available to members.
Marilyn McKeever gives a debrief on the ‘mansion tax’ ‘There are many legitimate reasons, which have nothing at all to do with SDLT, or even tax generally, why people own residential property through a company.’ Once again, the government has proposed legislation seemingly without having a proper understanding of the context or the practical implications …
Continue reading "Guest Editorial: ‘One size fits all’?"
This post is only available to members.
