Trustees

View Private Client by content type:

Latest Private Client News

Featured Private Client content

Precedents
This Deed of Appointment is made on [date] by [trustee] of [address] and [trustee] of [address] (the Trustees).Background(A)This Deed is supplemental...
Read More >
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...
Read More >
Produced in partnership with Katya Vagner of PwC 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
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
Nature and classification of trusts—the three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...
Read More >
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...
Read More >
Produced in partnership with Paul Davies of Clarke Willmott 19th May
Practice notes
Creation of trusts—beneficiariesWho may be beneficiariesEvery person who would be capable of owning property if of full age and sound mind may be a...
Read More >
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
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...
Read More >
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,...
Read More >
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...
Read More >
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...
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

Most recent Trustees content

Q&As
Does the restriction in section 36(9) of the Trustee Act 1925 (TA 1925) (requiring the Court of Protection’s approval before an incapacitated trustee...
Read More >
Produced in partnership with Graham Stott of 3 Paper Buildings 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...
Read More >
1st Aug
Q&As
What information do you have on setting up a trust corporation?Trust corporationA trust corporation is a company which is given special status under...
Read More >
1st Aug
Q&As
A Will in administration created a life interest trust which contains assets to be administered by trustees but no trustees have been appointed. Who...
Read More >
Produced in partnership with Paul Davies of Clarke Willmott 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...
Read More >
1st Aug
Q&As
What is the position when trustees become personally bankrupt? If they are unable to continue to act, what options are available for the appointment...
Read More >
1st Aug
Q&As
Where trustees have not paid income to the income beneficiaries, but have accumulated it instead, what steps can be taken to rectify the situation?For...
Read More >
1st Aug
Q&As
If a new trustee is appointed at a trustee meeting without a deed of appointment, is the appointment valid?For the purposes of this response, we have...
Read More >
1st Aug
Q&As
Can an appointor ‘retire’ as appointor and if so, does the statutory power of appointment of new trustees vest in the remaining trustees?The Trustee...
Read More >
1st Aug
Q&As
Can an executor of an estate appoint someone (say a solicitor) under a general power of attorney to sign the TR1 to complete the sale of the...
Read More >
Produced in partnership with Helen Galley of XXIV Old Buildings 1st Aug
Q&As
Can a company be a trustee of a lifetime discretionary trust?A trust corporation can be appointed as a trustee of a trust and a company other than a...
Read More >
1st Aug
Q&As
Where all trustees have lost capacity, can their LPA attorney(s), in the absence of provisions in the trust instrument, remove and replace them?A...
Read More >
1st Aug

Popular documents