Foundations

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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
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 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
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
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
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 Foundations content

Practice notes
Foundations are most often associated with Liechtenstein, but are also found in a number of other jurisdictions, such as Austria, Switzerland, Panama,...
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13th Apr
Practice notes
This Practice Note provides practical guidance on the execution of documents by overseas companies, primarily when execution takes place after 1...
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13th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with Robert Langston of Saffery Champness 9th Apr
Practice notes
What is a Cayman Islands foundation company?The Foundation Companies Law, 2017 has been in force now for three years, enabling the establishment of...
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Produced in partnership with Anthony Partridge of Ogier, Cayman Islands and Wisdom Hon of Ogier, Hong Kong 9th Apr
Practice notes
There is a wide range of structures that can be used to hold wealth; many use vehicles established outside the UK. This Practice Note discusses how...
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9th Apr
Practice notes
AAdministrationThe process starting on the date of the deceased's death and ending on the date the deceased's affairs are finalised by his personal...
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9th Apr
Practice notes
A private foundation is a legal entity set up by an individual, a family or a group of individuals, for the benefit of the founders. A foundation can...
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9th Apr
Practice notes
The foundation is originally a civil law concept and, unlike the common law trust, a creature of statute. This Practice Note is a summary of the...
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Produced in partnership with Gavin Ferguson of Ogier 9th Apr
Practice notes
For general information on the Isle of Man, see Practice Note: Private Client jurisdictional guide—Isle of Man. For information on foundations,...
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Produced in partnership with Erin Trimble-Cregeen and Melissa Wong of Appleby (Isle of Man) LLC 9th Apr
Practice notes
For general information about Jersey, see Practice Note: Private Client jurisdictional guide—Jersey [Archived].What is a Jersey foundation?The...
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Produced in partnership with Mr David Dorgan 9th Apr
Q&As
HMRC generally treats a usufruct as equivalent to an English law interest in possession settlement for inheritance tax (IHT) purposes. This view was...
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22nd Jan

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