Laird v Simcock & ors [2023] WTLR 1393

Wills & Trusts Law Reports | Winter 2023 #193

The deed was intended to appoint a life interest in the assets not attracting IHT relief to the deceased’s widow, the first defendant. The interest so appointed would then qualify for the spousal exemption. Due to the wording of the deed however it appointed an interest in all of the trust assets, not merely those which did not qualify for IHT relief.

The claim was issued for rectification of the deed. The claim was adjourned with directions at the first hearing, the Master expressing the view that the evidence was insufficient to sustain the rectification claim. Further evidence ...

Dukeries Healthcare Ltd v Bay Trust International Ltd & ors [2021] WTLR 809

Wills & Trusts Law Reports | Autumn 2021 #184

The claims concerned various tax avoidance schemes that had been established as ‘Remuneration Trusts’ for the claimants by Baxendale Walker LLP. The claimants were a successful businessman, Mr Levack, and various businesses of which he was a director and/or shareholder. In each case, one of the claimants was the ‘founder’ of the relevant trust. The defendants were various corporate entities having had a role in the trusts, together with HMRC.

The claimants maintained that the Remuneration Trusts had been entered into on the basis that they would offer various tax benefits, and wou...

Ware v Ware [2021] WTLR 725

Wills & Trusts Law Reports | Summer 2021 #183

The claimant’s father (the testator) died on 21 October 2003 leaving his half share in the matrimonial home and his residual estate to his wife, the defendant, absolutely. On 4 October 2005 the defendant varied those dispositions by a deed of variation which, for inheritance tax purposes, was read back to the date of the testator’s death. The deed of variation created two trusts: the property trust and the will trust.

The property trust held the testator’s half share in the matrimonial property on trust for the defendant for life, with the remainder to the claima...