Landed estates and farming families

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Practice notes
Liferent trusts—ScotlandLiferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both,...
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Produced in partnership with Peter Murrin of Turcan Connell 19th May
Practice notes
Trustees—appointment of trusteesOriginal trusteesTrustees will usually be appointed by the instrument that brings the trust into existence. The trust...
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19th May
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
Nature and classification of trusts—the three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...
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19th May
Practice notes
Private Client—Luxembourg—Q&A guideTaxation regimeWhat factors determine tax liability in your jurisdiction (eg domicile, residence or...
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Produced in partnership with Eric Fort of Arendt & Medernach 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
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
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
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
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
Offshore trusts—offshore income gains (OIGs)Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are...
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19th May
Precedents
This Deed is made on [date]Parties1[insert name] of [insert address] and [insert name] of [insert address] (the Retiring Trustees) and2[insert name]...
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19th May
Practice notes
Trustees—power of advancementWhere a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married...
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19th May
Practice notes
Discretionary trusts—ScotlandWhat is a discretionary trust?A discretionary trust or discretionary settlement is an arrangement created when an...
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Produced in partnership with Peter Murrin of Turcan Connell 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 Landed estates and farming families content

Q&As
Where the main asset of an estate is land that qualifies for IHT agricultural property relief at 100%, do the PRs need to file a corrective account if...
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6th Jun
Q&As
When was the creation of new entailed interests prohibited (if at all)? If land was ever declared to be in ‘tail male’ or in ‘tail general’ what is...
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Produced in partnership with Graham Stott of gunnercooke LLP 5th Jun
Practice notes
IHT—agricultural property reliefAgricultural property relief (APR) was provided for from the outset when capital transfer tax was introduced by the...
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Produced in partnership with Hayden Bailey and Gabrielle Dewes of Boodle Hatfield 5th Jun
Practice notes
Trust and tax planning for landed estatesA landed estate typically consists of a holding of some hundreds or even thousands of acres of land, held by...
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Produced in partnership with Alexander Caton of Charles Russell Speechlys LLP 5th Jun
Q&As
What is the correct procedure for a beneficiary with an entailed interest under a strict settlement to bar the entail?Tenant in tail in possessionA...
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5th Jun
Q&As
Is grassland left fallow, neither cut, nor used for hay, nor for grazing, used for agricultural purposes for the purpose of inheritance tax and...
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5th Jun
Practice notes
IHT—business property reliefBusiness property relief (BPR) is an important relief for inheritance tax (IHT) purposes. The relief applies both to...
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Produced in partnership with Hayden Bailey and Gabrielle Dewes of Boodle Hatfield 5th Jun
Q&As
If one of the grantees under an option to purchase property dies, does the right for the grantees to exercise the option continue? Can the...
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5th Jun
Practice notes
Profits à prendreWhat is a profit à prendre?A profit à prendre is the right to take the products of natural growth from the land of another. Examples...
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5th Jun
Practice notes
Rural Development Schemes in England and WalesIntroductionRural development schemes provide financial assistance to farmers who voluntarily agree to...
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5th Jun
Practice notes
Agricultural tenancies—identifying a tenancy of an agricultural holdingWith some exceptions, the Agricultural Holdings Act 1986 (AHA 1986) applies...
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5th Jun
Practice notes
Is the agreement a grazing licence or farm business tenancy?What is a grazing licence?A grazing licence is an agreement under which a landowner allows...
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5th Jun
Practice notes
Riparian owners and fishing rightsRiparian ownershipThis Practice Note looks at riparian ownership of non-tidal waterways, dealing with the fishing...
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5th Jun
Practice notes
IHT—woodlands reliefWoodlands may attract one of three different types of relief from inheritance tax (IHT) depending on the nature of the land and...
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Produced in partnership with Emma Haley of Boodle Hatfield LLP 5th Jun
Practice notes
Manorial rightsManorial rights are relics of the feudal system of land tenure. They can still exist in relation to land that:•is former copyhold land,...
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5th Jun
Practice notes
The Basic Payment Scheme in England and WalesIntroductionThe Basic Payment Scheme (BPS) provides direct financial support (subsidy) payments to...
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5th Jun
Practice notes
Agricultural property—land transactionsLetting of agricultural landAgricultural tenanciesThe Agricultural Tenancies Act 1995 (ATA 1995) introduced...
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5th Jun
Practice notes
Strict settlementsWhat is a strict settlement?A strict settlement is a settlement of land falling under the Settled Land Act 1925 (SLA 1925).Some...
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Produced in partnership with Charles Russell Speechlys LLP 5th Jun

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