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Practice notes
Capital gains tax issues on deathSTOP PRESS: The Office of Tax Simplification published its first report on the review of capital gains tax (CGT) on...
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19th May
Practice notes
What is an offshore trust?A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or...
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Produced in partnership with Mourant Ozannes and Carey Olsen 19th May
Practice notes
Taxation of age 18–25 trusts—IHTThe special category of age 18–25 trusts was introduced by Finance Act 2006 (FA 2006) to offer some compensation for...
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Produced in partnership with Paul Davies of Clarke Willmott 19th May
Practice notes
Creation of trusts—beneficiariesWho may be beneficiariesEvery person who would be capable of owning property if of full age and sound mind may be a...
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19th May
Practice notes
Beddoe applicationsWhen trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe...
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Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 19th May
Q&As
When can a mistake in an executed deed be rectified by a manuscript amendment rather than by a deed of rectification?This Q&A explains when it is...
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Produced in partnership with Emma Holland of Stewarts Law 19th May
Practice notes
Trustees—statutory powers of trusteesSource and availabilitySourcesTrustees have certain powers conferred on them by statute, in particular by the...
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19th May
Practice notes
Trustees—removal of trusteesA trustee may be removed against their will in any of the following ways:•under an express power in the trust...
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19th May
Practice notes
Creation of trusts—blind trustsWhat is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the...
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Produced in partnership with Michael O’Sullivan of 5 Stone Buildings 19th May
Practice notes
The Cy-près doctrineFORTHCOMING CHANGE: On 22 March 2021, the government published its response  to the Law Commission’s report of 14 September 2017,...
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19th May
Q&As
Can a life tenant in a Will bring a life interest to an end by choosing to end it themselves or does it only expire on death?Life tenantsA life...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 19th May
Practice notes
Assessment for residential accommodationCoronavirus (COVID-19): The content of this Practice Note is temporarily affected by the coronavirus...
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19th May
Practice notes
Capacity to litigateOn the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without...
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19th May
Practice notes
Termination of trusts—methods of terminationDuration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules...
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19th May
Practice notes
Acceptance in Lieu scheme and other heritage property reliefsSTOP PRESS: HMRC has updated its guidance on calculating the special price in Acceptance...
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19th May
Practice notes
Beneficial ownership registers—private clients and trustsCORONAVIRUS (COVID-19): Certain aspects of the PSC regime are affected by temporary measures...
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19th May

Most recent Financial matters content

Q&As
Where a property is occupied by a daughter/deputy and the mother is in residential care, can the daughter/deputy use the mother’s assets to maintain...
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1st Aug
Q&As
If an appointee dies, what is the status of money which the appointee holds for a person who is mentally incapable?The role of an appointee is to deal...
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1st Aug
Q&As
Can an attorney operating under a lasting power of attorney use the donor's funds to cover the expense of taking legal advice in respect of challenges...
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1st Aug
Q&As
How effective is a trust for a disabled beneficiary, on such terms as to fall into section 89 of the Inheritance Tax Act 1984, to protect assets from...
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1st Aug
Q&As
A is the beneficiary of personal injury trust. A's spouse, B, receives means-tested benefits. Is there any reason why B should not act as trustee of...
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31st Jul
Practice notes
The elderly client and welfare benefitsThere is a difficulty when acting for elderly clients as to what age they are classed as 'elderly'. That age...
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31st Jul
Practice notes
Help with housing costsAlthough local authorities have some responsibilities regarding care funding and it is that area that causes major discussion,...
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31st Jul
Practice notes
Social security benefits—the benefitsSTOP PRESS:The guidance in this Practice Note may be affected by the announcements in Autumn Statement 2015. For...
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31st Jul
Practice notes
Elderly clients disposing of property interestsElderly clients frequently seek advice from their professional advisers on how to dispose of their...
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31st Jul
Practice notes
Elderly and vulnerable people—guide to investments and adviceSolicitors are not generally involved in the actual determination of where a client...
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31st Jul
Practice notes
Social security benefits—eligibility and claimsSTOP PRESS:The Chancellor in his 2014 Autumn Statement announced that the Bereavement Support Payment...
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31st Jul
Practice notes
Lifetime giftsA lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In...
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31st Jul
Practice notes
Equity release schemesIn recent years the phenomenon of the capital-rich, cash-poor elderly client has become more common. Generally their wealth is...
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31st Jul
Practice notes
Tax planning for the elderlyIndividuals may find themselves liable to pay income tax and capital gains tax during their lifetime. On death their...
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Produced in partnership with Sophie Fenn of The Wilkes Partnership Solicitors 31st Jul
Precedents
Letter to client explaining consequences of making a giftDear [insert name of client]Thank you for your instructions [I refer to our meeting and your...
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30th Jul

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