Trusts

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Practice notes
An offshore trust is any non-UK resident trust. The liability of trustees of an offshore trust to UK inheritance tax (IHT) is not dependent on the...
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Produced in partnership with Jenny Wilson-Smith and Emma Haley of Boodle Hatfield 14th Oct
Practice notes
Liferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both, in the trust property...
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Produced in partnership with Peter Murrin of Turcan Connell 13th Oct
Practice notes
The term 'relevant property' defines a category of trust property which is subject to a special regime for inheritance tax (IHT). As described in...
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26th Sep
Practice notes
Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are either:•non-distributor offshore funds, or...
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26th Sep
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...
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26th Sep
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...
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26th Sep
Practice notes
A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or persons (the trustees) to hold...
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Produced in partnership with Mourant Ozannes and Carey Olsen 26th Sep
Practice notes
When you advise an individual on cross-border issues or offshore tax planning, it is important to establish the 'situs' (ie location) of the assets...
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25th Sep
Practice notes
On the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without capacity, in them...
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25th Sep
Practice notes
Where a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married under that date but is required...
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25th Sep
Practice notes
This Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman Islands, see Practice Note: Private...
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25th Sep
Practice notes
This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...
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25th Sep
Practice notes
Trust litigation has been classified as being of three types:•a dispute as to the trusts on which trustees hold the subject matter of the settlement•a...
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25th Sep
Practice notes
The issue of sham is most likely to be raised by the settlor's creditors or former spouse if the settlor is involved in matrimonial proceedings, who...
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25th Sep
Practice notes
When trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe application is the best...
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25th Sep
Practice notes
Duty to distribute to the correct beneficiariesOn the termination of the trust, the trustees are under a duty to distribute the trust assets to the...
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25th Sep

Most recent Trusts content

Practice notes
This Practice Note provides practical guidance on the proper execution of simple contracts and deeds for administrators.CapacityA company will...
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25th Sep
Practice notes
This Practice Note summarises the execution formalities for witnesses, in particular it considers who can act as a witness to the signature of another...
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25th Sep
Practice notes
This Practice Note provides practical guidance on proper execution of simple contracts and deeds for administrative receivers.CapacityAn...
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25th Sep
Practice notes
This Practice Note provides guidance on the proper execution of simple contracts and deeds for individuals. It covers issues of legal capacity, the...
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25th Sep
Practice notes
Overview of potential IHT chargesIt is important when establishing or operating an employee benefit trust (EBT) that the potential for Inheritance Tax...
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25th Sep
Practice notes
Letting of agricultural landAgricultural tenanciesThe Agricultural Tenancies Act 1995 (ATA 1995) introduced farm business tenancies (FBTs) to replace...
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25th Sep
Practice notes
The Variation of Trusts Act 1958 (VTA 1958) gives the court the jurisdiction to approve variations to the terms of a trust on behalf of beneficiaries...
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25th Sep
Practice notes
Source and availabilitySourcesTrustees have certain powers conferred on them by statute, in particular by the Trustee Act 1925 (TA 1925) and the...
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25th Sep
Practice notes
For general information on Jersey, see Practice Note: Private Client jurisdictional guide—Jersey [Archived].Legal frameworkThe legal framework for...
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25th Sep
Practice notes
General lawThe original trust fundFor a settlement to be effective it needs property to be subject to the trusts. When a settlement is created the...
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25th Sep
Practice notes
The self-dealing ruleThe self-dealing rule is connected to, but distinct from, the fair dealing rule as well as the genuine transaction rule. There is...
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25th Sep
Practice notes
This Practice Note was originally drafted by Owen Clutton of Macfarlanes LLP but is now maintained by Lexis®PSL Private Client.Trustee residence...
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25th Sep
Practice notes
Constituting the trustIn general no trust is created, whatever intention the settlor has manifested, unless legal title is vested in the trustees....
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25th Sep
Practice notes
CertaintyIn order for a settlor to create a private express trust the three certainties must be present, namely:•certainty as to the intention of the...
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25th Sep
Practice notes
Protective trusts are a long-established method of making provision for beneficiaries who are in need of protection. Typically, they have been used...
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25th Sep
Practice notes
Powers to investTrustees' powers to administer a trust are set out in statute, mainly the Trustee Act 1925 and the Trustee Act 2000 (TrA 2000) as...
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25th Sep
Practice notes
This Practice Note considers what a purpose clause in a facility agreement actually is. It also explains what Quistclose trusts are, how they arise...
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25th Sep
Practice notes
This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...
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25th Sep
Practice notes
Sufficient fundsTo determine whether or not the settlor will be left with sufficient means to provide for themselves after creating a settlement, the...
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25th Sep
Practice notes
Table of contentsSettlement deeds are often long and complex documents. Consequently, modern precedents generally start by setting out in a table of...
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25th Sep

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