October 2018 #200 – Law Journals

Breach of trust: Who bears the loss?

Dreamvar has implications not only for conveyancers but for breach of trust claims against professional trustees. Claire-Marie Cornford and Sarah Smith explain ‘It was accepted that there had been failures in the identification checks undertaken by OWC and MMS; however, in both cases the claims against the vendors’ solicitors were dismissed at first instance on …

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Trusts: A perilous enterprise

Paul Clarke explores the challenges of establishing that trust obligations have arisen after the failure of a joint venture ‘It is surprisingly easy for parties, even experienced commercial parties, to invest large amounts of time and resources in the hope of a joint venture agreement being reached, but fail to reach a binding agreement before …

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Guest editorial: A chance for reform

Elizabeth Neale outlines what should be the focus of the Office of Tax Simplification’s report on the simplification of inheritance tax ‘The residence nil-rate band (RNRB), with the requirement to benefit direct descendants, complex tapering arrangements and downsizing provisions, is a classic example of policy being driven by political objectives.’ In April 2018, the Office …

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Charities: The limits of discretion

The Court of Appeal has indicated the extent to which it will control the exercise of discretion by fiduciaries. Robert Pearce QC discusses ‘The Chancellor’s decisions that the grant was in the best interests of the charity and his direction to L to vote in favour of it were given simultaneously, giving L no opportunity …

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Probate: Out in the ether

Digital assets risk being overlooked during the probate process. Sue Mackintosh and Joshua Eaton report ‘If digital assets with a financial value are not accounted for, the estate of the deceased will not receive the assets, and the beneficiaries will receive less.’ In administering an estate, the personal representatives (PRs) of a deceased individual must …

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Trustees: Judicial blessings

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 ‘The court did not need to agree that the trustee’s decision was “right”, but just that the decision fell within a range …

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Wills: Gender balance

Alison Craggs sets out important points to consider when advising a transgender client ‘Under s15 of the GRA, the fact that a person’s gender has changed does not affect the disposal or devolution of property under a will or other instrument made before 4 April 2005. However, the disposal or devolution of property under a …

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Testamentary undue influence: Hope over experience

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John Poyser pinpoints the warning signs for testamentary undue influence, with lessons from a recent Canadian case ‘If the will-maker feels compelled to leave their wealth to a different collection of people, whether by overpowering fear or overpowering hope, then the resulting will is void.’ A recent Canadian case highlights some fresh perspectives on testamentary …

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