Tom McPhail reports on the Privy Council decision in Cook Islands case Webb which scrutinises the trust structure and the true reach of the settlor If the powers retained by a settlor are so extensive and of such a nature that they amount to an uncontrolled power to recover the trust property, then the settlor’s …
Continue reading "Trust validity: Oh what a tangled Webb we weave"
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Ross Pizzuti-Davidson looks at interpreting foreign law concepts in English law trusts The court’s judgment in PTNZ in relation to the protector’s role may be a welcome clarification given the surprising lack of authority on the point of whether a protector’s consent rights are joint or review powers. International estate planners can find themselves playing …
Continue reading "Trusts: Lost in translation"
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Wills & Trusts Law Reports | Winter 2020 #181The appeal arose in a dispute between husband and wife about the matrimonial property available for division.
After Mr and Mrs Webb were married in 2005, Mr Webb established two family trusts for the purpose of acquiring land and other assets in the Cook Islands (the Arorangi Trust and the Webb Family Trust).
The Arorangi Trust was established with Mr Webb as sole trustee, and Mr Webb and his son Sebastian as the two beneficiaries. The deed provided for a consultant to assist the trustee and for who could remove the trustee, request early vesting of the property and consent...
Oliver Auld gives the lowdown on what happens to trusts in the event of a divorce ‘Trustees need to be aware of not only the range of orders the family courts can make in relation to trust assets, but also the strategies they should potentially be adopting in the best interest of their beneficiaries, both …
Continue reading "Divorce: A matter of trust"
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