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Amin v Amin is an interesting application of the test in Stack v Dowden, as Sofie Hoffman discusses ‘This article considers only a discrete part of the judgment relating to the determination of the beneficial interests in Kingswood Manor, particularly given the complex family relations, both business and domestic, which were governed by a mixture …
Continue reading "Constructive Trusts: House rules"
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Geoffrey Shindler argues that a legal education begins with literature ‘We cannot begin to advise clients unless we understand their own predicaments, often understanding them to a degree beyond which they understand them. One of the sad consequences of specialisation is the loss of the big picture.’ What is it that is irreplaceable when lost …
Continue reading "Musings From Manchester: The best provision for practice"
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Sam Macdonald and Elizabeth Jones review the decision in the ISC’s judicial review of Charity Commission guidance on public benefit ‘The emphasis upon trustees’ discretion, rather than prescription by the Commission or any other authority, will, of course, have practical consequences.’ On 13 October 2011, the Upper Tribunal (Tax and Chancery Chamber) released its decision …
Continue reading "Charities: Helping hand"
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Stewart Jordan and David Kilshaw outline what the UK practitioner needs to know about foundations ‘Foundations do not, in our experience, occur regularly in the day-to-day business of a UK tax adviser. When they do occur, they are often unwelcome – simply because they are unusual and hence difficult to analyse.’ The purpose of the …
Continue reading "Foundations: Back to basics"
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Geoffrey Shindler looks ahead to divine what regulators might have in store for wills and estate administration ‘Core elements that seem to be involved in regulating will writing are: education of the will writer, responsibility of the office holder within the firm, conduct rules (particularly conflicts of interest), CPD, monitoring compliance with the rules, redress …
Continue reading "Musings From Manchester: New Year’s regulations"
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George Hodgson sets out the current position of FATF on trusts ‘It is worth saying at the outset that STEP is unaware of any evidence that points to trusts representing a major problem with respect to money laundering. Indeed, a recent report on worldwide trends in corruption by the World Bank found the evidence “suggests …
Continue reading "Regulating Trusts: Regulating trusts"
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Chris Walton explains why a review of online assets is an essential part of the will-making process ‘Many individuals overlook their digital assets and online profiles when making wills, perhaps because they are not so tangible as property or finance.’ Just ten years ago, the way in which we used the internet was very different. …
Continue reading "Wills: Virtual presence"
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Morley-Clarke v Brooks & ors elucidates the court’s approach to the capitalisation of a life interest under an intestacy after the time limit has expired, as Fenner Moeran outlines ‘ Morley-Clarke v Brooks & ors [2011] covers the question of the position of a spouse where the marriage was voidable for reasons of capacity or …
Continue reading "Probate: From Russia with love"
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Gill Steel examines pension by-pass trusts ‘The principle of the by-pass trust is simple. When a pension scheme member dies the lump-sum death benefit can be paid to the member’s spouse/civil partner by the scheme trustees free of inheritance tax (IHT).’Many clients have pension arrangements that provide death benefits. These clients may be thinking of …
Continue reading "Pensions: Pass it on"
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In the first of two articles, Sukhninder Panesar discusses different approaches to equitable tracing in light of the Court of Appeal decision in Sinclair ‘Until the decision of the Privy Council in AG for Hong Kong v Reid [1994], English law had argued that the right to assert equitable ownership over unauthorised gains in the …
Continue reading "Equitable Tracing: Proprietary base needed?"
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