July/August 2018 #198 – Law Journals

Common reporting standard: Coming to the boil

William Ahern urges practitioners to oppose the CRS Mandatory Disclosure Rules while there is still time ‘The Mandatory Disclosure Rules (MDRs) potentially require those of us who advise clients on CRS issues to report our clients and everyone in the relevant structure chain to their local tax departments.’ Many of you (of a certain age) …

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Pre-nups and private client: Take note

Mark Pawlowski considers a recent decision on the enforceability of pre-nuptial agreements ‘It was essential that both parties should have entered into the agreement of their own free will without undue influence, fraud or misrepresentation, and with a full appreciation of its implications.’ The recent Court of Appeal decision in Versteegh v Versteegh [2018] has …

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Anti-money laundering: Register interest

The EU’s 5th Anti-Money Laundering Directive places further obligations on private client practitioners. David Dorgan explains ‘5AMLD will amend the position so each member state must ensure compulsory disclosure (public access) of a limited set of information on beneficial owners of firms and other legal entities engaging in profit-making activities.’ The European Parliament on 19 …

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Constructive trusts: Gone, but not forgotten

Joss Knight examines a claim for a common intention constructive trust where a cohabitee has passed away ‘The administrators found themselves defending proceedings on behalf of the estate and attempting to deny the existence of a conversation to which they were not, on anyone’s case, a party.’ Claims for a declaration that property is held …

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EU succession law: An objective view

Alessia Paoletto reports on two recent cases which put European succession requirements into context ‘The Regulation must be interpreted as precluding refusal to recognise the material effects of a legacy by vindication provided for in the law applicable to the succession, where such refusal is based on the fact that the legacy created a right …

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Estate planning: The importance of autonomy

James Ferguson, Katie Male and Mark Lindley discuss a recent case that demonstrates the growing role of pre-nuptial contracts in estate planning ‘As a general rule the provision for the spouse in the will should be at least as generous as in the pre-nuptial agreement (PNA), if not more so, to minimise exposure to a …

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Musings from Manchester: Plus ça change

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Certain new tax proposals hark back to 1970s ideology. Geoffrey Shindler separates the good from the bad ‘What was mooted in the 1970s, and has now been revived by the Resolution Foundation, is whether instead of being a tax on estates, ie a tax on the donor or the testator, death tax ought to be …

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