Insolvency—private client

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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
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
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
CGT—giftsA gift of an asset is a disposal for capital gains tax (CGT) purposes. It can, therefore, trigger a CGT charge on the gain deemed to have...
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Produced in partnership with Laura Poots (Barrister) of Pump Court Tax Chambers 19th May
Practice notes
CGT—reliefsFORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek...
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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
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
Q&As
At what stage and to whom can a Deed of Appropriation take place when selling a second property in an estate?We assume you refer to the situation when...
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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
Costs and expenses in the Court of ProtectionThere are court fees and disbursements which will be payable by all applicants on making a new...
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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
Practice notes
Statutory Wills—Court of Protection applicationsWhat is a statutory Will?Where a person is incapable of making a valid Will for themselves, the Court...
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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
Cayman Islands STAR trusts—common usesThis Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman...
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Produced in partnership with Mourant Ozannes and Carey Olsen 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 Insolvency—private client content

Practice notes
Individuals—reviewable transactions—PropertyTransactions at an undervalueA transaction at an undervalue is a transaction which is made by a debtor:•by...
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3rd Aug
Q&As
What are the consequences if an executor takes out a grant of probate knowing that there is a possibility that the estate is insolvent?This Q&A does...
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1st Aug
Q&As
To what extent could third-party creditors of D have a claim to property to which D is entitled under a bare trust?Broadly, the nature of a bare trust...
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1st Aug
Q&As
In an otherwise insolvent estate, several life policies are nominated to the widow or are paid out at the discretion of the trustees of the policy....
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1st Aug
Q&As
What is an executor’s duty to enquire into the status of a beneficiary when they have reason to suspect the beneficiary has entered into an Individual...
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31st Jul
Q&As
Can a bankrupt commence legal proceedings in respect of a claim for breach of contract? If they cannot, can the trustee make this claim on their...
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31st Jul
Q&As
If an estate is insolvent and the deceased did not leave a Will do those individuals entitled to apply for administration'>Letters of Administration...
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31st Jul
Practice notes
Companies—reviewable transactions—PropertyBackgroundCertain transactions entered into by a company within a specified period before insolvency may be...
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31st Jul
Practice notes
Winding-up a general partnership as an unregistered companyThis Practice Note looks at the winding-up of an insolvent partnership as an unregistered...
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Produced in partnership with Natasha Dzameh of St John's Chambers 31st Jul
Practice notes
Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986It is possible for a claim to be brought under section 423 of the...
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31st Jul
Practice notes
Effect of the debtor's death on an insolvency processWhat happens when a debtor dies?A person may die insolvent. Their estate will be insolvent where...
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Produced in partnership with David Nicholls of Landmark Chambers 31st Jul
Practice notes
Voluntary arrangement of general partnershipsIn addition to the better-known company voluntary arrangements (CVAs) and individual voluntary...
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Produced in partnership with Phillip Patterson of Gatehouse Chambers 31st Jul
Practice notes
Partnership administration ordersCoronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a...
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31st Jul
Practice notes
A summary of the key changes in the Insolvency (England and Wales) Rules 2016 [Archived]This Practice Note has been archived and is not...
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Produced in partnership with Sarah Clarke of Gatehouse Chambers 31st Jul
Practice notes
Debt relief orders (DROs)What is a DRO?DROs are 'a new and simplified way of wiping the slate clean for debtors who are too poor to go bankrupt.'A DRO...
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Produced in partnership with Simon Passfield of Guildhall Chambers 31st Jul
Practice notes
Insolvency—administrationCoronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a temporary...
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31st Jul
Practice notes
BankruptcyCoronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a temporary and permanent...
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31st Jul

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