Nature and classification of trusts

View Private Client by content type:

Latest Private Client News

Featured Private Client content

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...
Read More >
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...
Read More >
19th May
Practice notes
Liferent trusts—ScotlandLiferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both,...
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 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...
Read More >
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...
Read More >
Produced in partnership with Mourant Ozannes and Carey Olsen 19th May
Practice notes
CGT—reliefsFORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek...
Read More >
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...
Read More >
Produced in partnership with Emma Holland of Stewarts Law 19th May
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...
Read More >
19th May
Practice notes
Trustees—statutory powers of trusteesSource and availabilitySourcesTrustees have certain powers conferred on them by statute, in particular by the...
Read More >
19th May
Q&As
Can a life tenant in a Will bring a life interest to an end by choosing to end it themselves or does it only expire on death?Life tenantsA life...
Read More >
Produced in partnership with Lynne Counsell of 9 Stone Buildings 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...
Read More >
19th May
Practice notes
Trustees—self-dealing, unauthorised profits and conflicts of interestThe self-dealing ruleThe self-dealing rule is connected to, but distinct from,...
Read More >
19th May
Practice notes
Statutory Wills—Court of Protection applicationsWhat is a statutory Will?Where a person is incapable of making a valid Will for themselves, the Court...
Read More >
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]...
Read More >
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...
Read More >
19th May
Practice notes
Beneficial ownership registers—private clients and trustsCORONAVIRUS (COVID-19): Certain aspects of the PSC regime are affected by temporary measures...
Read More >
19th May

Most recent Nature and classification of trusts content

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...
Read More >
1st Aug
Q&As
What happens where a trust is settled in respect of a residential property in favour of several beneficiaries, but there has been no formal...
Read More >
Produced in partnership with Elizabeth England 1st Aug
Q&As
When a custodian holds assets, are they held on trust for the client? Is there a difference between cash and other assets?Trustees have a general...
Read More >
1st Aug
Q&As
What would happen to the trust fund if a trust has no surviving beneficiaries, or ultimate default beneficiaries, and there is no power to add...
Read More >
31st Jul
Q&As
What was the effect of the Trusts of Land and Appointment of Trustees Act 1996 on trusts for sale?The Trusts of Land and Appointment of Trustees Act...
Read More >
Produced in partnership with Chris Bryden of 4 King’s Bench Walk 31st Jul
Q&As
What type of deed is required to release assets from a voluntary settlement?The need for a deed to terminate the settlement and to transfer the...
Read More >
31st Jul
Q&As
Can a beneficiary under a discretionary trust exclude themselves as a potential beneficiary (as opposed to the trustee removing them from the list of...
Read More >
31st Jul
Q&As
Can a company be a discretionary beneficiary under a discretionary trust?The nature of discretionary trustsThe nature of a discretionary trust is...
Read More >
Produced in partnership with Lynne Counsell of 9 Stone Buildings 31st Jul
Practice notes
Perpetuities and accumulationsThe rules relating to perpetuities and accumulations stem from the common law and the provisions in the Perpetuities and...
Read More >
31st Jul
Practice notes
Nature and classification of trusts—the nature and classification of trustsNature of trustsThe trust conceptTypically, the settlor is the original...
Read More >
31st Jul
Practice notes
Nature and classification of trusts—the three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...
Read More >
31st Jul
Practice notes
Nature and classification of trusts—constitution of trustsConstituting the trustIn general no trust is created, whatever intention the settlor has...
Read More >
31st Jul
Practice notes
Resulting trustsResulting trusts represent one of the three types of trust which do not require to be declared or evidenced in writing. The others are...
Read More >
31st Jul
Q&As
Where property is held on the statutory trusts for the issue of an intestate, do the issue take as tenants in common or as joint tenants?Where a...
Read More >
5th Jun
Q&As
If a testator leaves an immediate post-death interest in one of their houses in their Will, would the value of the house be within the life tenant’s...
Read More >
5th Jun

Popular documents