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Practice notes
Trustees—dutiesNature of dutiesThe difference between a duty and a power is:•the performance of a duty is obligatory•powers are to a greater or lesser...
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19th May
Practice notes
Creation of trusts—express trustsConstituents of a trustWhen drafting, keep in mind that the essentials of creating a validly constituted trust...
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19th May
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
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
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
Precedents
This Deed OF REVOCATION is made on [date] by me [name of donor] of [address of donor].This Deed provides:1Revocation...
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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
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
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
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
Precedents
This Deed is made on [date]Parties1[insert name] of [insert address] and [insert name] of [insert address] (the Retiring Trustees) and2[insert name]...
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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 Q&As content

Q&As
Is stamp duty reserve tax (SDRT) payable on the transfer of a beneficial interest in shares where the legal interest is not being transferred?The...
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Produced in partnership with Mary Ashley of Old Square Tax Chambers 5th Aug
Q&As
Where a solicitor has acted for a client prior to their death, can the solicitor surrender the client's files to their executor, particularly with...
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4th Aug
Q&As
Where a QIIP trust ends during the lifetime of the life tenant, and funds are appointed to an individual so the life tenant is deemed to make a PET,...
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4th Aug
Q&As
Can a pre-2010 discretionary trust be varied to alter the accumulation period, where the primary beneficiary is 21 and has learning disabilities?An...
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3rd Aug
Q&As
Can a UK bank refuse to recognise a foreign power of attorney and in that case, an application to court must be made to get a declaration that the...
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Produced in partnership with Graham Stott of gunnercooke LLP 3rd Aug
Q&As
Can capacity assessments be undertaken remotely by video?The Vice-President of the Court of Protection, Mr Justice Hayden, has issued guidance for...
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3rd Aug
Q&As
Can you execute a Deed of Variation in an estate to benefit an individual who was not alive at the date of death of the testator?Section 142(1) of the...
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3rd Aug
Q&As
Is it possible for the third party’s half share to be held as tenant in common and the couple’s share to be held as joint tenants?Case studyProperty...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 1st Aug
Q&As
A grant of probate has been issued with powers reserved to an appointed executor under a Will. How can the executor obtain full powers?Reservation of...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 1st Aug
Q&As
How can a testator ensure that the residence nil rate band will apply where a property is to be left on trust for the testator’s minor children?This...
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1st Aug
Q&As
Does a beneficiary have a right of occupation and what is the procedure to force a sale?Beneficiaries in occupationIt is quite common for a...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 1st Aug
Q&As
Is SDLT payable on the appointment out of a discretionary trust of a dwelling house to one of the discretionary beneficiaries? If SDLT is payable,...
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1st Aug
Q&As
What information do you have concerning the execution of guarantees by trustees?For the purposes of this Q&A it is assumed that:•the trust in question...
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1st Aug
Q&As
Can an executor who has taken out a grant of double probate act independently of the other executors?An executor derives their title and authority...
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1st Aug
Q&As
Can a non-UK resident be a trustee of a UK trust?The express terms of the trust should be reviewed as to any powers of appointment of trustees. Note...
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1st Aug

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