Understanding the intricate aspects of trust formation, administration, and disputes is made easier with our expert guidance. Whether you need advice on asset protection, tax efficiency, or succession planning, our resources provide the practical insights essential for effective trust management. Enhance your practice by staying updated on the latest legal developments and best practices in this crucial area of private client law.
Private Client analysis: In C v D and others, the High Court of the Isle of Man confirmed that a trustee’s decision to retain funds against a...
This week’s edition of Private Client highlights includes: (1) Gill v Gill and Patel v O’Sullivan, involving failed challenges to a Will on grounds of...
This Q&A considers the effect of a divorce on a Lasting Power of Attorney where one of the attorneys is the former spouse of the donor....
Private Client analysis: Farming businesses are often built over generations. They are asset-rich, cash-constrained, deeply personal and closely tied...
Nature and classification of trusts—the three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...
ProtectorsWhat is a protector?A protector is a person who holds powers under a trust but who is not a trustee. A protector is a person who is...
Preparing the application form PA1P/PA1A for probate or letters of administrationFORTHCOMING CHANGE: The postal application forms PA1P and PA1A for...
Administration actions—personal representatives and the deceased's liabilitiesAn individual may assume obligations, for example in respect of...
Constructive trustsThis Practice Note covers constructive trusts, which represent one of the three types of trust that do not require to be declared or evidenced in writing—the others being resulting trusts and implied trusts, although it is doubtful whether there is any form of implied trust which
There must be at least two acting trustees to give a valid receipt for the sale proceeds of trust owned land. Where there is only one trustee, common practice is to appoint a second trustee on panel 11 of Form TR1 specifically for the purpose of giving valid receipt for the purchase monies. Provided
Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a
If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit
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