Family businesses—employment and succession

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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 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
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
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
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
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
This Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman Islands, see Practice Note: Private...
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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
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
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
Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are either:•non-distributor offshore funds, or...
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9th Nov
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 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
CertaintyIn order for a settlor to create a private express trust the three certainties must be present, namely:•certainty as to the intention of the...
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9th Nov
Practice notes
What is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the settlor and beneficiary of the...
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Produced in partnership with Michael O’Sullivan of 5 Stone Buildings 12th Jan
Practice notes
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or...
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9th Nov

Most recent Family businesses—employment and succession content

Practice notes
What some consider to be normal business rules do not always apply in a family business context, eg many businesses consider nepotism to be an...
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Produced in partnership with Ken McCracken 9th Apr
Practice notes
Succession in a family business is a multi-dimensional process, rather than a single event. The challenge is always how to achieve a balance of...
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Produced in partnership with Ken McCracken 9th Apr
Practice notes
Family business cultureWith the typical average cost of replacing an employee exceeding £30,000, recruiting and retaining the right people with the...
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Produced in partnership with Douglas Streatfeild-James and Caroline Hardwood of Burges Salmon and Nicholas Smith of the Family Business Consultancy 9th Apr
Practice notes
Whether or not to sell their business and when to sell are among the most important decisions that a family may have to face. Some families start...
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Produced in partnership with Ken McCracken 9th Apr
Q&As
This Q&A considers whether the provisions set out in Part 7A of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) apply in a situation...
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Produced in partnership with Christopher Snell of New Square Chambers 15th Feb
Q&As
Termination of membershipA person will cease to be a member of a limited liability partnership (LLP) by death, dissolution or otherwise in accordance...
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22nd Jan
Q&As
Under a discretionary trust, trustees are given a discretion to pay or apply income or capital, or both, to or for the benefit of all, or any one or...
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22nd Jan
Q&As
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...
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29th Nov

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