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Joseph Jaconelli finds Constructive and Resulting Trusts an invaluable guide for practitioners This volume consists of 12 essays: six each on constructive and resulting trusts. Its origins are in a conference held in April 2009 at King’s College London. There already exist specialist treatments of the two types of trust in question: Oakley’s Constructive Trusts, …
Continue reading "Book Review: Collective thinking"
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Christopher Kerr-Smiley sets out the powers and duties of bare trustees ‘The duty to preserve trust property may require bare trustees to continue legal proceedings that are ongoing at the time they become trustees, as demonstrated by CGU Insurance Ltd v One.Tel Ltd (in liquidation) [2010].’All trusts can be categorised as either special or simple. …
Continue reading "Trustees: Bare necessities"
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Sofie Hoffman argues for a flexible model of mediation to avoid costly litigation ‘For many clients, mediation, while not suitable for all cases, can often provide a more satisfactory outcome than a trial in both financial and emotional terms.’The following phrase was recently uttered: ‘once we start irreparable damage may be done’. Not the words …
Continue reading "Opinion: Talking heads"
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Shân Warnock-Smith QC examines the partitioning of ‘Freeston’ trusts in the recent case of Southgate v Sutton ‘The US beneficiaries and the trustees were put in a difficult position as a result of the decision at first instance: the beneficiaries because of their continued exposure to penal US tax and the trustees because they could …
Continue reading "Trusts: Section 57 clarified"
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Nadia Cowdrey sets out the lessons to be learned from Beard v Shadler, in which the intention behind the whole will was analysed to avoid a partial intestacy ‘ Beard provides a good illustration of the need to consider the will, read as a whole, when matters of construction arise and that the outcome of …
Continue reading "Wills: An extension of words"
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Marilyn McKeever, Jeffrey Gould and Suzanne Willis analyse the interaction between UK and US tax, and how to plan best for clients ‘US citizen and resident alien transferors are allowed a lifetime exemption from tax on gifts (over and above the annual exempt amounts) aggregating $5m.’The British and the Americans are two nations divided, not …
Continue reading "UK/US Estate Planning: A window of opportunity"
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In the light of the Law Society’s recent practice note, Kirstie McGuigan considers what you should tell your client before being appointed as an executor ‘The 17 March 2011 practice note is not legally binding, but it provides a platform, and those solicitors who choose to ignore the guidance do so at their peril and …
Continue reading "Probate: Practice makes perfect"
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Alon Kaplan reviews International Trust Laws by Paolo Panico International Trust Laws is a brave attempt to put a concise description of the subject matter into one volume of 609 pages. The contents are dealt with under English law and the laws of offshore jurisdictions such as Jersey, Guernsey, the Cayman Islands, the Bahamas, the …
Continue reading "Book Review: A concise and high-level read"
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Ruth Moore examines the Neary case, which concerned applications from the media for the hearing to be in the public domain ‘In Neary the judge took into account the facts that decisions must be made on a case-by-case basis and that the welfare of the patient is of paramount importance. If publicity is likely to …
Continue reading "The Court Of Protection: Public v private"
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Paul Whitehead muses on the political influences affecting tax policy in the UK ‘What was done to the inheritance tax regime, by effectively introducing a 20% up-front inheritance tax charge on the settlement of virtually all new trusts, has almost curtailed the use of trusts for UK domiciliaries other than in exceptional cases.’There is a …
Continue reading "Opinion: Fair tax?"
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