Trustees: Judicial blessings

| Trusts & Estates Law and Tax Journal | October 2018 #200

A recent case illuminates when a trustee can enter into a commercial transaction and the scope of s57 of the Trustee Act 1925. Adam Carvalho and Joseph de Lacey highlight the key points

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Re A’s Application
 

WTLR Issue: Summer 2018 #172

The trustee applied under s61 of the Isle of Man Trustee Act 1961, alternatively under the court’s inherent jurisdiction, for the opinion, advice or direction of the court in relation to its intention to negotiate with a foreign revenue authority for the discharge of tax liabilities of the settlement, the disclosure of information necessary for that purpose, and the payment of the tax irrespective of whether they are enforceable in the Isle of Man...

South Downs Trustees Limited v GH [2018] EWHC 1064 (Ch)

WTLR Issue: Summer 2018 #172

The claimant was the trustee of an employment benefit trust (the EBT). The trustee had an interest in a company that owned and controlled a business (the utility). The beneficiaries of the EBT were the former and current employees of the utility and other group companies and their dependants...

Littlewood v Morley [2015] CHP 66

WTLR Issue: Summer 2017 #168

L applied pursuant to s8(1) of the Administration of Estates Act 1990 to remove M as her co-executor and co-trustee of the estate of their father. The beneficiaries of the estate were L (50 percent) and M’s two children (50 percent)...