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
Variation of trustsAs a general rule trustees are bound to carry out the settlor's wishes. However, circumstances may arise where a variation is...
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26th Sep
Practice notes
Whether a property transaction is an investment or trading (ie dealing) activity is of key importance to each of the parties to the transaction since...
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26th Sep
Practice notes
Commercial propertyCommercial property is that which is intended to produce a financial return for its owner by being used or occupied by businesses....
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26th Sep
Practice notes
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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26th Sep
Practice notes
Gathering information from the clientWhen taking instructions it is preferable to ensure that the client completes an asset and liability statement....
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26th Sep
Practice notes
Appointment of original trusteesThe trustees must be clearly identified in the settlement deed. For example:'THIS SETTLEMENT is made the ....... day...
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26th Sep
Practice notes
Creation of new trusts in the exercise of powers under existing trustsFor capital gains tax purposes, if property passes into a new settlement, there...
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26th Sep
Practice notes
Preliminary considerationsBefore commencing work the solicitor drafting the settlement deed must be clear in their mind what they are seeking to...
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26th Sep
Practice notes
The Solicitors Regulation AuthorityThe Solicitors Regulation Authority (SRA) Codes of Conduct, contained in the SRA Standards and Regulations, are in...
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26th Sep
Precedents
Option 1 Executed as a deed by affixing the common seal of [insert the name of the charitable company] in the presence of: [allow...
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26th Sep
Precedents
Option 1—fixation of the common seal—general Executed as a deed by affixing the common seal of [insert the name of the corporate...
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26th Sep
Precedents
Option 1—deed executed by administrative receiver under the company’s common seal Executed as a deed by [insert name of company]...
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26th Sep
Precedents
Option 1—deed executed by an individual attorney in the presence of a witness Executed as a deed by [insert name of individual]...
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26th Sep
Precedents
Option 1 Signed as a deed on behalf of the [trustees OR transferors] by [insert name of trustee] and [insert name of trustee], two...
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26th Sep
Precedents
Option 1—deed executed by administrator under the company’s common seal Executed as a deed by affixing the common seal of[insert...
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26th Sep
Precedents
Option 1—deed executed by a company under its common seal (model articles, where the authorised signatory is an...
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26th Sep
Precedents
If [insert the full name and description of the disabled person who is the object of the trust, eg my said son Joe] of [insert full address of...
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26th Sep
Precedents
To [insert name of second joint tenant] of [...
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26th Sep
Precedents
1RevocationI [full name of testator] of [address of testator] revoke all former testamentary dispositions made by me[ to the extent that and so far...
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26th Sep
Precedents
This [Deed OR Agreement] dated [•] 20[•] is madeParties1[insert name], a company incorporated in England and Wales with registered number [insert...
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26th Sep

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