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

Q&As
Bare trusts and CGTA transfer to a nominee or a bare trustee, under which the beneficial title does not move, is ignored for capital gains tax (CGT)...
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28th Sep
Q&As
Section 12 of the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996) concerns the entitlement to occupy property and TOLATA 1996, s 13...
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Produced in partnership with Katherine Illsey of 4 King’s Bench Walk 28th Sep
Q&As
Meaning of settlor for trust law purposesAs trustees are not the beneficial owners of the capital and income comprising the trust fund, they are not...
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28th Sep
Q&As
This Q&A only considers a class of closed beneficiaries and not the scenario where there may be other persons who are capable of benefitting under the...
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28th Sep
Q&As
It is assumed that the beneficiary wishes to dispose of their beneficial interest in the trust (for consideration), rather than disclaim their...
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28th Sep
Q&As
The Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996) was introduced with the intent of simplifying the regime that existed previously...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 28th Sep
Q&As
Broadly, the answer may be yes. However, it is important to understand that an Alternative Investment Market (AIM) listing alone does not guarantee...
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28th Sep
Q&As
In answering this Q&A, we have assumed that the business is carried on by an individual.Business property relief (BPR) is an extremely important...
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28th Sep
Q&As
It is assumed the trust has come to an end and that all that is required is a distribution of its assets.For a general discussion on the duties of...
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28th Sep
Q&As
For the purposes of this Q&A it is assumed that:•the trust in question is a private trust governed by English law, of which all the trustees are...
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28th Sep
Q&As
It is always open to a sole owner to enter into a trust deed to determine the beneficial ownership of a property. If the property is registered the...
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28th Sep
Q&As
Case studyWhere shareholders of a private company had an intention and mutual understanding to write life and critical illness policies in trust for...
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28th Sep
Q&As
Powers of a sole trusteeTrustees have a range of powers conferred on them by the Trustee Act 1925 (TA 1925), the Trusts of Land and Appointment of...
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28th Sep
Q&As
The Finance Act 1986 (FA 1986) introduced a regime whereby, on or after 28 March 1986, an individual disposed of a property by way of a gift, but the...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 28th Sep
Q&As
Can a life interest be terminated by actions only rather than by a deed, eg life tenant not taking income?For the purposes of this Q&A it is assumed...
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28th Sep

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