Creation of trusts

Practice notes

Beneficial ownership registers—private clients and trusts

Beneficial ownership registers—private clients and trustsCORONAVIRUS (COVID-19): Certain aspects of the PSC regime are affected by temporary measures...

15th Jul

Practice notes

Creation of trusts—trustees

Creation of trusts—trusteesAppointment of original trusteesThe trustees must be clearly identified in the settlement deed. For example:'THIS...

6th Jul

Q&As

Does a trust of a property permitting occupation as a residence by one beneficiary (after which the property will pass to the residuary beneficiaries) need to be registered with HMRC, although, there will be no income from the property?

Does a trust of a property permitting occupation as a residence by one beneficiary (after which the property will pass to the residuary beneficiaries)...

5th Jul

Practice notes

Creation of trusts—taking instructions for a trust

Creation of trusts—taking instructions for a trustThe Solicitors Regulation AuthorityThe Solicitors Regulation Authority (SRA) Codes of Conduct,...

5th Jul

Precedents

Trust for the disabled—discretionary

Trust for the disabled—discretionaryThis TRUST is made on [date]Parties1[settlor] of [address] (the Settlor) and2[original trustees] of [addresses]...

1st Jul

Precedents

Letter of wishes—discretionary trust

Letter of wishes—discretionary trust[title eg Letter of wishes regarding [trust name]][date]To the trustees of [insert trust name] dated [insert date...

1st Jul

Q&As

Can a gift be made to an unincorporated association or because it isn't a legal entity in its own right does the gift need to be made to the members of the association by name?

Can a gift be made to an unincorporated association or because it isn't a legal entity in its own right does the gift need to be made to the members...

1st Jul

Precedents

Bare trust

Bare trustThis TRUST is made on [date]Parties1[settlor] of [address] (the Settlor) and2[original trustee] of [address] and [original trustee] of...

30th Jun

Practice notes

Creation of trusts—by declaration

Creation of trusts—by declarationExpress lifetime declarationsWhere a trust is created by an express lifetime declaration, the settlor simply declares...

11th Jun

Q&As

An individual, X, joined a trust-based pension scheme in 2006. In 2011, X established a £10 pilot trust. Following X’s death in 2012, the trustees of the pension scheme transferred X’s death benefits to the pilot trust. What perpetuity period applies to the transferred death benefits?

An individual, X, joined a trust-based pension scheme in 2006. In 2011, X established a £10 pilot trust. Following X’s death in 2012, the trustees of...

6th Jun

Q&As

Can a company be a discretionary beneficiary under a discretionary trust?

Can a company be a discretionary beneficiary under a discretionary trust?The nature of discretionary trustsThe nature of a discretionary trust is...

Produced in partnership with Lynne Counsell of 9 Stone Buildings 6th Jun

Q&As

Is it possible to create a Will with a life interest trust of a mobile home? If so, are there any issues to be aware of?

Is it possible to create a Will with a life interest trust of a mobile home? If so, are there any issues to be aware of?The occupier of a mobile home...

6th Jun

Q&As

Where joint owners (H and W) wish to settle two properties on trust, how many trust deeds are required? What formalities are required at the Land Registry?

Where joint owners (H and W) wish to settle two properties on trust, how many trust deeds are required? What formalities are required at the Land...

6th Jun

Q&As

What impacts, if any, do the SDLT regulations have on personal injury trusts?

What impacts, if any, do the SDLT regulations have on personal injury trusts?There do not appear to be any direct SDLT rules that applying...

6th Jun

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 power in the trust deed to nominate additional beneficiaries?

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...

6th Jun

Q&As

Where an individual’s life assurance policy covers death and terminal illness, is it possible to assign the death benefit alone into trust? What practical steps, if any, need to be considered?

Where an individual’s life assurance policy covers death and terminal illness, is it possible to assign the death benefit alone into trust? What...

6th Jun

Q&As

A and B own real property as beneficial tenants in common in equal shares. B wishes to execute a declaration of trust over B's 50% beneficial interest in favour of B and C (who is not a legal owner). Could the new beneficial interests under the declaration of trust be registered against the legal title?

A and B own real property as beneficial tenants in common in equal shares. B wishes to execute a declaration of trust over B's 50% beneficial interest...

5th Jun

Q&As

When an estate is left to children by their deceased parent until they reach the age of 23, is it classed as a 18–25 trust?

When an estate is left to children by their deceased parent until they reach the age of 23, is it classed as a 18–25 trust?The so-called 18–25 trust...

Produced in partnership with Paul Davies of Clarke Willmott 5th Jun

Q&As

H and W executed Wills each containing a clause stating that the Wills are intended to be mutual Wills and shall not be revoked by either of them during their lifetime. H and W now wish to make new Wills. Are they able to revoke the previous Wills by way of mutual agreement?

H and W executed Wills each containing a clause stating that the Wills are intended to be mutual Wills and shall not be revoked by either of them...

5th Jun

Q&As

Where a life interest in a property is left under a Will, with 75% going to wife and 25% to a disabled child, wife living in the property with disabled child until she moves but child continues to reside in the property. Following wife's death, could wife’s benefit under the life interest have passed to the disabled child when she moved out?

Where a life interest in a property is left under a Will, with 75% going to wife and 25% to a disabled child, wife living in the property with...

Produced in partnership with Chris Bryden of 4 King’s Bench Walk 5th Jun

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