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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
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
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
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 Probate content

Q&As
It is assumed that the life tenant of the trust is a qualifying beneficiary within the meaning of section 169J(3) of the Taxation of Chargeable Gains...
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6th May
Practice notes
Where an individual dies leaving no known relatives and a probate practitioner is involved, the first step will be to ascertain whether the deceased...
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6th May
Q&As
To some extent the answer to this Q&A will depend on the remuneration clause in the Will, and the circumstances of the case. The general rule remains...
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Produced in partnership with Paul Davies of Clarke Willmott 5th May
Practice notes
DefinitionPartial intestacy may arise when a testator has made an effective testamentary disposition of part of their estate but has failed to dispose...
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5th May
Practice notes
FORTHCOMING CHANGE: Following the Inheritance Tax Review Call for evidence and Survey, which ran from 27 April and 8 June 2018, the Office of Tax...
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5th May
Practice notes
FORTHCOMING CHANGE: As announced at Budget 2018, draft legislation to be included in Finance Bill 2019–20 was published on 11 July 2019 and includes a...
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4th May
Practice notes
Appropriation is a process by which a personal representative or a trustee uses a specific asset in the estate or trust fund, to meet in full or in...
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4th May
Practice notes
Trusts created on deathTrusts may be created during the lifetime of the settlor or on an individual’s death. This Practice Note considers trusts...
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4th May
Practice notes
In administering the assets of an estate, there are some assets and liabilities that can be easily overlooked. As well as checking what assets and...
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4th May
Practice notes
The intestacy rulesA total intestacy occurs when all of the deceased's property is undisposed of because:•the deceased did not make a Will•the...
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4th May
Practice notes
Is there a Will?The first step will be to search the deceased’s house and papers for either the Will, a copy or correspondence referring to the...
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30th Apr
Practice notes
ExecutorsGeneralAn executor is a person appointed by the testator, usually by their Will or codicil, to:•administer their property, and•carry into...
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30th Apr
Q&As
There are a number of different forms for such a trust of chattels.Frequently, such a clause will include words which leave the chattels to the...
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30th Apr
Practice notes
The need to value the estateWhen an individual dies they are considered to have made a 'transfer of value' equal to the value of their estate...
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Produced in partnership with Ailsa Moorhouse of Penningtons Manches Cooper 28th Apr

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