Administration of trusts

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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
Trustees—appointment of trusteesOriginal trusteesTrustees will usually be appointed by the instrument that brings the trust into existence. The trust...
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19th May
Practice notes
Capital gains tax issues on deathSTOP PRESS: The Office of Tax Simplification published its first report on the review of capital gains tax (CGT) on...
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19th May
Practice notes
Nature and classification of trusts—the three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...
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19th May
Practice notes
Taxation of age 18–25 trusts—IHTThe special category of age 18–25 trusts was introduced by Finance Act 2006 (FA 2006) to offer some compensation for...
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Produced in partnership with Paul Davies of Clarke Willmott 19th May
Q&As
When can a mistake in an executed deed be rectified by a manuscript amendment rather than by a deed of rectification?This Q&A explains when it is...
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Produced in partnership with Emma Holland of Stewarts Law 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
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
Relief for income tax lossesReliefs entitle taxpayers to reduce the amount of income tax payable. When calculating liability to income tax, a taxpayer...
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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
Termination of trusts—methods of terminationDuration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules...
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19th May
Practice notes
Costs and expenses in the Court of ProtectionThere are court fees and disbursements which will be payable by all applicants on making a new...
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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

Most recent Administration of trusts content

Q&As
What steps should be taken where a trust deed has been lost and a copy cannot be located?In the case of a missing trust deed, the first step would be...
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1st Aug
Q&As
Under a trust, do those receiving trust assets have to pay the costs of transferring them?Rights and duties of a trustee in relation to expenses...
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1st Aug
Q&As
What information do you have on trustees making a loan to a beneficiary in order to purchase a property?The trustees should consider whether the loan...
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1st Aug
Q&As
Who is entitled to the trust assets where all the potential beneficiaries of a discretionary trust (created via a Will) have died and there is no...
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1st Aug
Q&As
Do trustees have the power to pay income to the parent of an adult (under 25 years of age) beneficiary of an old accumulation and maintenance...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 1st Aug
Q&As
Can trustees be given a power to determine what receipts are income and what are capital?The decision in Re Wynn’s Will Trusts [1952] Ch 271In Re...
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1st Aug
Q&As
Is there a general rule as to how many trustees must be present at trustee meetings?Ideally, all the trustees should attend trustee meetings, because...
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1st Aug
Q&As
If a Will leaves a life interest in a property to a life tenant, what rights (if any) does the remainderman have with regard to visiting the property...
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1st Aug

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