Continue reading "Trusts: Shedding light on remuneration trusts"
Continue reading "Trustees: The court’s power to bless decisions"
Continue reading "Trusts: Making well-documented inquiries"
On 3 August 2016, the appellant made a claim for income-related Employment and Support Allowance, asking for any award to be backdated to 2 June 2016. The appellant was in receipt of regular monthly payments from discretionary family trusts of £600 per month, rising to £750 per month from July 2016. She also received £750 per month from a lodger from July 2016.
Her application was refused on 10 July 2018 on the basis that her income exceeded the limit under the Employment and Support Allowance Regulations 2008. A mandatory reconsideration confirmed the initial outcome, an...
Continue reading "Trusts: Perception vs reality"
The appeal concerned Nettlebed School in Oxfordshire. In 1914 and 1928, Mr Robert Fleming conveyed land to Oxfordshire County Council (the council) under the School Sites Act 1841 (SSA 1841). The benefactions enabled a new school building to be built. The school operated on the site until 2006. In the 1990s, the council decided to relocate the school to a new building with improved facilities on other land owned by the council (adjacent to the old site), and the pupils moved to the new building in February 2006. The council’s plan was to sell the old site to pay o...
The trustees of a settlement sought directions as to whether they could advance capital to certain beneficiaries pursuant to their powers under s32 Trustee Act 1925, as varied by a clause of the trust deed, so as to bring the trust to an end. They sought a declaration as to whether the proposed advancements were within the power as a matter of construction, (ie whether there were beneficiaries with interests prior to those of the beneficiaries in whose favour the advancements were to be made, whose consent was required), and, presuming that they were within that power, the court...
This was an application by P (a current trustee) to be appointed as sole trustee of the trust under s31(1) Trustee Act 1975 (Bermuda), and for liberty to manage the assets of the trust on the basis that it had been validly appointed as trustee by a deed dated 1 July 2015.
The trust was established by a deed dated 22 June 1965 between the settlor and the original trustee. It was a discretionary trust, with the beneficiaries including the settlor and his brothers then living or born at any time thereafter, subject to certain limitations in favour of the male line of descend...
The claimants were four of the five trustees of a trust. The defendant was the other trustee. The trust property included the share capital of a holding company (‘the holding company’) which in turn had a wholly owned subsidiary (‘the subsidiary’). A third company (‘the trading company’), the shares of which were also held by the holding company, occupied and traded from premises owned by the subsidiary, to which it paid rent. This, together, with distributions of profits, generated the majority of the income flowing to the trustees. In 2016, a revocable appointment of a life interest ha...
Continue reading "Trusts: Lost in translation"