Trusts: An elaborate charade

Boodle Hatfield LLP | Trusts and Estates Law & Tax Journal | January/February 2016 #173
Financial remedy case Joy v Joy-Morancho [2015] has valuable pointers for practitioners. Alexandra Hirst and Sofie Hoffman examine the outcome ‘The sensible approach must surely be to continue to tread carefully and advise trustees to be cautious when taking any steps which might render the trust susceptible to an argument that it has been nuptialised …

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Dellal v Dellal & ors [2015] EWHC 907 (Fam)

Wills & Trusts Law Reports | September 2015 #152

The defendants applied for an order summarily terminating the claimant’s application for an order under s10 of the Inheritance (Provision for Family and Dependants) Act 1975 (the Act) without trial.

J was a well-known, successful property dealer who died on 28 October 2012 worth a large fortune. The claimant (C) was his widow and had married J in 1997 following ten years’ cohabitation. They lived a high lifestyle. J had been married previously and had nine children; two children with C, four children from a previous marriage (D1, D2, D3 and D...

Nuptial Settlements: Break it up

Vardags | Trusts and Estates Law & Tax Journal | July/August 2015 #168
Antonia Barker outlines P v P, which sheds light on the circumstances in which a trust will be considered a nuptial settlement ‘Practitioners should be aware that even where the ultimate trust is not a nuptial settlement, any individual settlement of an asset into that trust, or even the right to occupy a trust property, …

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AB v CB & anr [2014] EWHC 2998 (Fam)

Wills & Trusts Law Reports | January/February 2015 #146

This was an application for ancillary relief following the wife’s divorce petition of October 2012, upon which decree nisi was pronounced on 17 April 2013. At the time of these proceedings the wife was 44 years of age, and the husband was 41. On paper, the husband had almost no assets and a modest income. However, the husband came from a family of great wealth with substantial lands in Pembrokeshire which they had owned for generations. His financial security was therefore absolutely assured.

The wife and the husband had first met in 1999. They had married in February 200...

Divorce: Stuck in the middle

Withers LLP | Trusts and Estates Law & Tax Journal | May 2014 #156
Claire Blakemore provides a practical guide for trustees in the event of divorce div class=”pullquote”>’Trustees must consider carefully what position they will need to take in the context of the case and in particular on disclosure and enforcement.’ The American preacher Lorenzo Dow famously said ‘damned if you do and damned if you don’t’ and …

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Tchenguiz-Imerman v Imerman [2013] EWHC 3627

Wills & Trusts Law Reports | January/February 2014 #136

Beneficiaries of a number of offshore discretionary trusts were joined as parties on their application to contested financial remedy proceedings. The court had made an order that these beneficiaries should disclose copies of documents provided to them for the purposes of an application that had been made to the Royal Court of Jersey (RCtJ) by the trustee of some of those trusts. The RCtJ had given the beneficiaries permission to make such disclosure if they were ordered to do so but expressed concerns about and invited the court not to require such disclosure [2012] (2) JLR 51.

Th...

Litigation Conduct: Drawing inferences

Lake Legal LLP | Family Law Journal | October 2013 #130
Frances Bailey considers the courts’ approach where a party’s conduct during proceedings is in issue ‘An analysis of any add-back argument must also include an analysis of what both parties have spent and that the argument must be analysed in context.’ As ever, the law reports are seemingly full of cases where one party’s approach …

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Divorce And Trusts: Trusting Prest

Withers LLP | Trusts and Estates Law & Tax Journal | October 2013 #150
Prest emphasises that it is unfeasible for the Family Division to take a differing approach to other divisions when piercing the corporate veil. Suzanne Todd explains ‘The recent decision of the Supreme Court in the case of Prest has far-reaching effects, way beyond the boundaries of the Family Division.’ Most people are familiar with Jane …

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DR v GR & ors [2013] EWHC 1196 (Fam)

Wills & Trusts Law Reports | July/August 2013 #131

A post-nuptial settlement (being a Jersey discretionary trust) was created by a husband and wife in 1986. The trust owns a Liberian company, which in turn owns a UK company that owns two UK companies. The main company assets are two UK retirement villages. The beneficiaries included the husband and wife and two minor children.

During divorce proceedings the wife applied for a variation of the settlement.

Over the course of proceedings the trustees of the Jersey trust and the companies were all joined as parties. In both cases no application was made for joinder and no not...