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...
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...
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...
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...
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...
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...
This Deed of Appointment is made on [date] by [trustee] of [address] and [trustee] of [address] (the Trustees).Background(A)This Deed is supplemental...
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...
It is important that the most appropriate form of vehicle is chosen to carry on a business; the choice of vehicle may have a bearing on the business’s...
A company having a share capital may have separate classes of shares. As a general rule, a type of share will form a separate class from other shares...
It will almost always be advisable for the partners of a limited liability partnership (LLP) to enter into a limited liability partnership agreement...
A limited liability partnership (LLP) is not a partnership but a body corporate that is formed under the Limited Liability Partnerships Act 2000 (LLPA...
Non-tax reasons for holding a company in trustA shareholder trustee has all the same rights and duties of a shareholder who is absolutely entitled to...
Summary of tax considerationsThe concept of a close company is intended to capture those companies that are closely controlled (ie by the owners and...
The examples given in this Practice Note are based on a UK company that is privately owned but the same issues arise for families who own other types...
Case studyWhere shareholders of a private company had an intention and mutual understanding to write life and critical illness policies in trust for...
Share transfer mechanismsIs it possible for a person who holds shares in a private limited company to agree by contractual arrangement terms providing...
Business Property Relief (BPR)The legislation for BPR relief from Inheritance Tax (IHT) is to be found in sections 103–114 of the Inheritance Tax Act...
Sign-in
Help
Scottish Law
