Partnerships

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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
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
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
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
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
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 Partnerships content

Precedents
This llp Agreement is made on [insert date and month] 20[insert year]Parties1The parties listed in Part A of Schedule 1 (Initial Members); and2[insert...
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9th Apr
Precedents
This limited partnership Agreement is made on [insert day and month] 20 [insert year]Parties1[insert name of general partner] of [insert address] (the...
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9th Apr
Precedents
This Partnership Agreement is made on [date]Parties1[Name of partner], of [address]2[Name of partner], of [address]3[Name of partner], of...
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9th Apr
Practice notes
A UK limited liability partnership (LLP) is a body corporate for company law purposes, but is generally taxed as though it were a partnership (ie it...
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9th Apr
Practice notes
This Practice Note is about the tax treatment of a general partnership formed under English law (as opposed to a limited partnership, a limited...
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9th Apr
Practice notes
This Practice Note discusses the conditions that need to be satisfied to form a general partnership under the Partnership Act 1890 (PA 1890). It also...
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8th Apr
Practice notes
It will almost always be advisable for partners to enter into a partnership agreement in order to avoid application of any inappropriate default...
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8th Apr
Practice notes
A limited liability partnership (LLP) is not a partnership but a body corporate that is formed under the Limited Liability Partnerships Act 2000 (LLPA...
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8th Apr
Practice notes
Coronavirus (COVID-19): Following the COVID-19 outbreak, some Companies House filing and other administrative procedures have been temporarily...
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8th Apr
Practice notes
Sources of limited partnership lawThe main body of law governing a limited partnership formed under English law (as opposed to a general partnership,...
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8th Apr
Practice notes
Sources of partnership lawThe main body of law governing a general partnership formed under English law (as opposed to a limited liability...
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8th Apr
Practice notes
It will almost always be advisable for the partners of a limited liability partnership (LLP) to enter into a limited liability partnership agreement...
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8th Apr
Practice notes
This Practice Note discusses the formation of a limited partnership under the Limited Partnerships Act 1907 (LPA 1907). It also covers, among other...
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8th Apr
Practice notes
This Practice Note discusses the provisions of a limited partnership agreement for limited partnerships formed under the Limited Partnerships Act 1907...
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8th Apr
Practice notes
This Practice Note considers specific tax provisions relevant only to a limited partnership formed under English law (as opposed to a general...
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16th Mar
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
In answering this Q&A our research has been limited to cover only the IHT implications for the estate of the grantor of the option.Inheritance...
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22nd Jan
Q&As
Partnership propertyA partnership will normally be governed by the deed of partnership or partnership agreement (see Precedent: Partnership...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 22nd Jan

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