July/August 2014 #158 – Law Journals

Opinion: Ever-moving goal posts

Marilyn McKeever finds an absence of ‘joined-up thinking’ in current tax policy concerning residential property ‘Over the last couple of years, the rules have changed with alarming rapidity and as fast as property owners and their trustees react to one lot of changes, the goalposts whizz off in a different direction.’The hallmarks of a good …

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Testamentary Capacity: Caution is key

Benedict Sefi outlines the lessons to be learned from Fischer v Diffley [2013] ‘In some cases of disputed wills and perfected transactions the disputed events may be many years before the trial and witnesses may be few: in some cases the burden of proof may be of critical importance.’ On 18 December 2013 His Honour …

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Bribery And Constructive Trusts: Channelling dirty money

Lloyds Trust Co (CI) Ltd v Fragoso [2013] provides clarification for Jersey on how trustees hold assets derived from bribes in a trust. Alexa Saunders gives the lowdown ‘In Fragoso [2013], the Royal Court of Jersey was in a position to make its own decision as to whether to follow Reid [1993] or Sinclair [2011].’ …

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Tax: Big Brother is watching you?

Sarah Saunders considers where the powers of HMRC could lead ‘HMRC are introducing intelligent technology, including the Connect system, to spot suspected tax evaders… This will be very effective if they are trained to understand that this kind of technology can only throw up probabilities, not guaranteed answers.’ It was a bright cold day in …

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Shari’ah Law: Understanding your client

Jo Summers explains the point of the Law Society’s shari’ah practice note on wills, succession and trusts ‘There is nothing in English law to prevent someone choosing, for religious reasons, to distribute their estate in accordance with shari’ah succession laws.’ A great outcry erupted in March when the Daily Telegraph announced that ‘Islamic law is …

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Trusts: Dealing with mistakes

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Mary Ashley examines the lessons from Jersey case In the Matter of the Strathmullan Trust [2014] ‘It was not in dispute that the representor had chosen to create the trust in order to avoid attracting a liability to IHT. His affidavit confirmed that he moved to the Isle of Man and established the trust with …

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Trustees: Island exposure

Amanda Mochrie and Erin Trimble-Cregeen highlight how trustees can protect themselves from the consequences of an ‘insolvent’ trust ‘Trustees and their advisers would be well advised to review those trusts where they are a Guernsey trustee of a Jersey law trust and to consider changing the law of the trust.’ The recent judgment in the …

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Musings From Manchester: R & R

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Geoffrey Shindler looks forward to a break from the cares of practice this holiday season ‘At least on holiday we are spared from worrying about the complexities of modern legislation and can sit in our deck chairs contemplating the simplicities of those who lived a 100+ years before us.’ As far back as springtime we …

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