Charlotte Conner outlines the challenges when dealing with cases involving trusts ‘This is an area fraught with difficulty as the court is being asked to deal with assets which are not legally owned by either party to the proceedings.’ The recent Court of Appeal decision in P v P [2015] brings into focus key issues …
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Wills & Trusts Law Reports | April 2012 #118The husband (H) and the wife (W) were both 65, having married in 1980. There was one child of the marriage (C), aged 25. The former matrimonial home was Green Farm, a substantial property set in 72 acres in Kent. Trust assets fell to be divided following divorce.
In order to mitigate tax on the floatation of his company (ABC), two Jersey trusts were created by H in 1994 (No. 1 Trust and No. 2 Trust) and a company incorporated in the British Virgin Island called Giloch Investments Ltd (Giloch). No. 1 Trust was a discrertionary trust for a class of beneficiaries comprising H, W, C, ...
