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Practice notes
The term 'relevant property' defines a category of trust property which is subject to a special regime for inheritance tax (IHT). As described in...
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Produced in partnership with Paul Davies of Clarke Willmott 12th Jan
Practice notes
On the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without capacity, in them...
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9th Nov
Practice notes
The issue of sham is most likely to be raised by the settlor's creditors or former spouse if the settlor is involved in matrimonial proceedings, who...
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9th Nov
Practice notes
A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or persons (the trustees) to hold...
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Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
Practice notes
When trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe application is the best...
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Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 12th Jan
Practice notes
This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...
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Produced in partnership with Vanessa Lovell Schrum and Caljonah Smith of Appleby, Bermuda 12th Jan
Practice notes
Trust litigation has been classified as being of three types:•a dispute as to the trusts on which trustees hold the subject matter of the settlement•a...
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9th Nov
Practice notes
Where a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married under that date but is required...
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9th Nov
Practice notes
Duration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules against remoteness of vesting and against the...
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9th Nov
Practice notes
Duty to distribute to the correct beneficiariesOn the termination of the trust, the trustees are under a duty to distribute the trust assets to the...
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9th Nov
Precedents
This Deed of Appointment is made on [date] by [trustee] of [address] and [trustee] of [address] (the Trustees).Background(A)This Deed is supplemental...
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9th Nov
Practice notes
When you advise an individual on cross-border issues or offshore tax planning, it is important to establish the 'situs' (ie location) of the assets...
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9th Nov
Precedents
This partial deed of revocation is made on [date] by [donor] of [address].1I granted a Lasting Power of Attorney for [Financial Decisions/Health and...
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9th Nov
Practice notes
Liferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both, in the trust property...
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Produced in partnership with Peter Murrin of Turcan Connell 12th Jan
Practice notes
An offshore trust is any non-UK resident trust. The liability of trustees of an offshore trust to UK inheritance tax (IHT) is not dependent on the...
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Produced in partnership with Jenny Wilson-Smith and Emma Haley of Boodle Hatfield 12th Jan
Practice notes
Express creation of trustsA trust is constituted expressly where the owner of property (the truster) transfers property to trustees to hold for...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 12th Jan

Most recent Investment and finance content

Practice notes
UPDATE: In his 2015 Budget, the Chancellor announced that new investment vehicles for charities, Charity Authorised Investment Funds, will be...
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9th Apr
Practice notes
What is a trading subsidiary?A 'trading subsidiary' is a company owned and controlled by a charity, or occasionally several charities, which has been...
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9th Apr
Practice notes
Although many charities will wish to organise and deal with their own investments, such will be beyond the capabilities of others either because of...
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9th Apr
Practice notes
Many charities have responded to public pressure to ensure that what they invest in has an ethical basis. That is a laudable motive but may run into...
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9th Apr
Practice notes
For those charities with a permanent endowment, special investment criteria apply. Put simply, 'permanent endowment' means any asset of a charity...
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9th Apr
Practice notes
Previously charities had to have sole control over their investments but with the advent of the Trustee Act 2000 (TrA 2000) came the opportunity for...
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9th Apr
Practice notes
This Practice Note considers the impact of the coronavirus (COVID-19) pandemic on charities and provides answers or guidance on some of the main...
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9th Apr
Practice notes
There is no reason why a charity cannot appointment a manager to deal with its investments and general assets. In the case of Common Investment and...
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9th Apr
Practice notes
Investment and tradingThere are a number of ways that charities can receive their income, and investment must be distinguished from trading. Sometimes...
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9th Apr
Practice notes
Most charities will have some form of liquid assets and a desire to maximise the investment potential of those assets. In this context, it is...
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9th Apr
Practice notes
It is not only banks and financial institutions that enter into derivative transactions. The types of entities seeking to enter into derivative...
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8th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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8th Apr
Practice notes
This Practice Note considers the acts typically carried out by companies in the context of finance transactions and covers the steps which can be...
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8th Apr
Practice notes
This Practice Note which provides information on the type of acts an unincorporated association, its members or officers may perform in a finance...
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8th Apr
Q&As
It has been assumed that the charity's constitutional documents do not prohibit investment by the trustees in an unlimited company.An unlimited...
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11th Mar
Q&As
If a charity has raised money for a stated purpose, it is required to use those funds in accordance with that stated purpose. For further guidance on...
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22nd Jan

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