Daniel Scott analyses a civil fraud case that may serve as a precursor for similar cases in the private client sphere on the misappropriation of cryptocurrencies The concession made in this case is to favour the trust analysis such that it is now relatively uncontroversial to view cryptocurrencies as property capable of being held on …
Continue reading "Cryptocurrencies and trusts: Watch and learn"
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Mark Studer reflects on the lessons from Wright v National Westminster Bank Plc [2014] ‘In the events which happened… Mrs Wright as spouse of the settlor would not be able to receive income from the trust fund at any time after its constitution while Mr Wright was still alive.’ Prior to the decision of the …
Continue reading "Equitable Mistake: After Pitt v Holt – the law in practice"
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Wills & Trusts Law Reports | April 2015 #148On 20 August 2012 Richard Wright signed a discretionary trust of which the National Westminster Bank was the trustee. The beneficiaries named were the widow, children and remoter issue of the settlor. There was a power to add beneficiaries but not the settlor or anyone who has previously added property to the settlement or the spouse of the settlor.
Clause 15 stated that no capital or income could be paid to the settlor, the spouse of the settlor or anyone who had added property.
At the first meeting with the bank the representative of the bank specifically ...
