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Benedict Sefi outlines the lessons to be learned from Fischer v Diffley [2013] ‘In some cases of disputed wills and perfected transactions the disputed events may be many years before the trial and witnesses may be few: in some cases the burden of proof may be of critical importance.’ On 18 December 2013 His Honour …
Continue reading "Testamentary Capacity: Caution is key"
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Lloyds Trust Co (CI) Ltd v Fragoso [2013] provides clarification for Jersey on how trustees hold assets derived from bribes in a trust. Alexa Saunders gives the lowdown ‘In Fragoso [2013], the Royal Court of Jersey was in a position to make its own decision as to whether to follow Reid [1993] or Sinclair [2011].’ …
Continue reading "Bribery And Constructive Trusts: Channelling dirty money"
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Sarah Saunders considers where the powers of HMRC could lead ‘HMRC are introducing intelligent technology, including the Connect system, to spot suspected tax evaders… This will be very effective if they are trained to understand that this kind of technology can only throw up probabilities, not guaranteed answers.’ It was a bright cold day in …
Continue reading "Tax: Big Brother is watching you?"
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Jo Summers explains the point of the Law Society’s shari’ah practice note on wills, succession and trusts ‘There is nothing in English law to prevent someone choosing, for religious reasons, to distribute their estate in accordance with shari’ah succession laws.’ A great outcry erupted in March when the Daily Telegraph announced that ‘Islamic law is …
Continue reading "Shari’ah Law: Understanding your client"
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Mary Ashley examines the lessons from Jersey case In the Matter of the Strathmullan Trust [2014] ‘It was not in dispute that the representor had chosen to create the trust in order to avoid attracting a liability to IHT. His affidavit confirmed that he moved to the Isle of Man and established the trust with …
Continue reading "Trusts: Dealing with mistakes"
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Amanda Mochrie and Erin Trimble-Cregeen highlight how trustees can protect themselves from the consequences of an ‘insolvent’ trust ‘Trustees and their advisers would be well advised to review those trusts where they are a Guernsey trustee of a Jersey law trust and to consider changing the law of the trust.’ The recent judgment in the …
Continue reading "Trustees: Island exposure"
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Pullan v Wilson clarifies what is reasonable and proper charging by the professional trustee. Aimee West and Tamasin Perkins investigate ‘Any objections to a trustee’s rates should be made promptly and unequivocally so as to avoid deemed acquiescence to the trustee’s fees.’ The recent judgment in the matter of Pullan v Wilson [2014] is an …
Continue reading "Trustee Costs: Exercising the right to recover"
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Alexander Learmonth weighs up the latest edition of Risk and Negligence in Wills, Estates, and Trusts Readers of this journal will have been eagerly awaiting the second edition of this excellent book. They will not be disappointed. The first edition stated the law as at 1 August 2008 and in this fast-moving area of the …
Continue reading "Book Review: A novel read"
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Pennyfeathers underscores the stringency of directors’ duties and indicates when the court will lift the corporate veil to provide a remedy for breach. Nicholas Broomfield explains ‘Lord Sumption had affirmed a limited power of the court to pierce the corporate veil in circumstances where a party was abusing corporate personality to evade their obligations.’ The …
Continue reading "Fiduciary Duties: Rigour at all times"
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Geoffrey Shindler finds the idea that HMRC is allowed access to bank accounts without a court order incompatible with our parliamentary democracy ‘HMRC tell us that these powers will affect only 17,000 people a year and only if the debt is over £1,000 and, further, only if there is £5,000 or more left in the …
Continue reading "Musings From Manchester: Smash and grab"
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