Insolvency—private client

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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
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
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
A lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In contrast, gifts...
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9th Nov
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
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 Insolvency—private client content

Practice notes
Coronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a temporary and permanent nature....
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10th Mar
Practice notes
Coronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a temporary and permanent nature....
Read More >
10th Mar
Practice notes
Coronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a temporary and permanent nature....
Read More >
10th Mar
Practice notes
Coronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a temporary and permanent nature....
Read More >
10th Mar
Practice notes
What happens when a debtor dies?A person may die insolvent. Their estate will be insolvent where its value is insufficient to meet all the debts and...
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Produced in partnership with David Nicholls of Landmark Chambers 4th Mar
Q&As
This Q&A does not indicate whether the executor is a layperson or a professional and, if a professional, whether that person is a solicitor. However,...
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15th Feb
Q&As
The Law Society Practice Note Bankrupt beneficiaries provides useful guidance on the duties of Personal Representatives (PRs) and bankrupt...
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15th Feb
Q&As
The bankrupt’s estatePursuant to section 283 of the Insolvency Act 1986 (IA 1986) all property (as so broadly defined) belonging to or vested in the...
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15th Feb
Q&As
Broadly, the nature of a bare trust is such that the beneficiary of the trust, is to all intents and purposes, the absolute owner of the property. As...
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22nd Jan
Q&As
Persons who are entitled to a grant to an estate can choose not to take out that grant. It would be unusual for those entitled to take out...
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14th Jan

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