Personal insolvency

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Practice notes
IHT—quick succession reliefQuick succession relief (QSR), which is not to be confused with taper relief, applies to a transfer of value which attracts...
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Produced in partnership with Katya Vagner of PwC 19th May
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
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
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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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
Practice notes
The Cy-près doctrineFORTHCOMING CHANGE: On 22 March 2021, the government published its response  to the Law Commission’s report of 14 September 2017,...
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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
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
Trust disputes—court jurisdiction and procedureTrust litigation has been classified as being of three types:•a dispute as to the trusts on which...
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19th May
Practice notes
Trustees—self-dealing, unauthorised profits and conflicts of interestThe self-dealing ruleThe self-dealing rule is connected to, but distinct from,...
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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

Most recent Personal insolvency content

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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6th Jun
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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6th Jun
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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6th Jun
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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5th Jun
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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5th Jun
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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5th Jun
Practice notes
County court administration ordersEligibilityPart VI of the County Courts Act 1984 (CCA 1984) introduces a new form of administration procedure for...
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5th Jun
Practice notes
Bankruptcy and the family home—equity of exoneration, anti-avoidance and re-vestingEquity of exonerationWhere the property of a spouse is charged in...
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5th Jun
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 5th Jun
Practice notes
Debt relief orders (DROs)IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into...
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Produced in partnership with Simon Passfield of Guildhall Chambers 5th Jun
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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5th Jun
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 Hardwicke Chambers 5th Jun
Practice notes
Bankruptcy — sale and charging of the family homeWhen an individual is adjudicated bankrupt, their property (with the exception of an interest in...
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5th Jun
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 Hardwicke Chambers 5th Jun

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