December 2016 #182 – Law Journals

Tax And Asset Protection: The bank of mum and dad

Guy Rendell and Graeme Fraser give the lowdown on parents helping children to buy property ‘There is a broad array of options for parents to assist their children. Selecting the right option will often be a case of balancing the somewhat competing interests of tax efficiency and asset protection.’With stagnant wages and high property prices, …

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Jersey: Independent process

Julie Melia outlines the procedure for will-making and probate in Jersey, and the consequences where it is not followed ‘While a will drawn anywhere is the world may, provided that it complies with the requirements of the jurisdiction of the deceased’s domicile, be accepted for Jersey probate purposes, a will dealing with immovable property must …

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IHT And Charities: A matter of interpretation

Simrun Garcha discusses the lessons from Routier on inheritance tax charity relief and jurisdiction ‘The words “held on trust for charitable purposes” contained a requirement that a qualifying charitable trust must be governed by the law of some part of the UK and subject to the jurisdiction of the UK courts.’The Court of Appeal’s recent …

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Musings From Manchester: Compare and contrast

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The current political language of stark opposites is nothing new to the practitioner. Geoffrey Shindler explains ‘The most important conflict and contrast of the day is between tax planning and tax avoidance. To my mind both are legitimate with or without vituperative epithets like “aggressive”. But HMRC appear to take a different view of the …

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Survivorship: The importance of the matrimonial home

Simon Goulding examines the interaction of the principle of survivorship with claims under s9 of the Inheritance (Provision for Family and Dependants) Act 1975 ‘Where a will or the rules on intestacy have failed to provide a reasonable level of financial provision for a dependant, a potentially powerful statutory provision which may reverse the effects …

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Chattels: Cutting the Gordian knot

Hannah Southon explores a judgment concerning a rarely used power of the court to direct the division of jointly-owned chattels ‘The case serves to underline the fact that if it is important to a donor who desires to dispose of assets by gifting them outright, rather than settling them on trust.’What relief is available from …

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Trusts: When is a ‘trust’ not a trust?

Katherine Hallett highlights a case that demonstrates the weight the court gives to the fact matrix when considering a possible declaration of trust ‘Practitioners should not refer to a “trust” unless they do actually intend to import the full legal meaning of that word into their document.’ Mr and Mrs Singha divorced in 2010. A …

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Wills: Pub talk

James Lister and Fenner Moeran QC analyse a case that demonstrates how a Beddoe order is applied in practice ‘The trustees were faced with a significant difficulty: how to realise the interests of the beneficiaries to divide the property equally between them when one of them was in occupation of the property to the exclusion …

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