Musings From Manchester: Brace yourself

Geoffrey Shindler questions whether the hurricane of new regulations will prevent financial crime ‘But unfortunately FATCA was like a virus and a very contagious one. The US could introduce FATCA, Europe could introduce CRS. Yet another set of regulatory requirements.’ We cannot go on like this. Not only have we reached the end of our …
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Law Reform: Will-making for the modern age

Jo Summers reviews the Law Commission’s will consultation from the point of view of the practitioner ‘Perhaps the most important part of the consultation relates to the question of mental capacity. The paper notes that the legal test for testamentary capacity comes from the case of Banks v Goodfellow which is hardly recent.’ On 13 …
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Fiduciary Duties: Staying virtuous

A recent Privy Council case indicates how the court will determine remedies and damages for breach of fiduciary duty. Joseph de Lacey explains ‘The case shows the flexibility of the concept of constructive trusts, and how they can be and are used to protect those to whom fiduciary duties are owed.’ On 27 March 2017 …
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Wills: The perils of cutting corners

Robert Sheridan discusses current thinking on interpreting homemade wills ‘If the personal representatives are unsure how to distribute the testator’s estate, an application to the High Court under Part 64 may be the most appropriate course to follow.’ At the time of his death, the testator, Mr Veljko Aleksic, was a very wealthy man. He …
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Succession Planning: Having your cake?

Jennifer Emms considers the outcome of schemes used to reduce IHT on the family home and outlines best practice ‘While I understand the legal distinction that has been drawn between the Hood case and Buzzoni, the practical result seems to be somewhat arbitrary.’ I am a fan of all things sweet, in particular, cake, whether …
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Charities: Smoothing the way?

Paul Ridout and Jelena Serbic report on the Law Commission’s latest proposals for changes to charity law ‘The changes proposed are technical but important, with real practical consequences for charities, including the removal of some of the inconsistencies and complexity that can make charity law difficult to apply and regulate.’In August 2017 the Law Commission …
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Equitable Accounting: Still relevant

Daisy Brown explores how the courts will apply equitable accounting principles to co-owned trust property ‘The basic principle of equitable accounting between co-owners is that the financial benefits and burdens of the trust property are adjusted between them with reference to the proceeds of sale.’ In the judgment handed down on 7 April this year …
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