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...
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...
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...
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...
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...
Duration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules against remoteness of vesting and against the...
This Deed of Appointment is made on [date] by [trustee] of [address] and [trustee] of [address] (the Trustees).Background(A)This Deed is supplemental...
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...
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...
Where an asset is acquired or disposed of otherwise than at arm’s length (ie there is a gift or a transfer at an undervalue), this is a disposal for...
FORTHCOMING CHANGE: The EU Fifth Anti-Money Laundering Directive (5MLD) was published in the EU official journal on 19 June 2018 and came into force...
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...
This Practice Note sets out the special income tax and capital gains tax (CGT) treatment of trusts for disabled persons. For guidance on how to make a...
BREXIT—end of the implementation period: This Practice Note contains references to EU derived domestic legislation (preserved legislation). As of exit...
CORONAVIRUS (COVID-19): Previously, the government announced that payments on account of income tax by trustees (who were due to make a second payment...
It is possible for trustees or personal representatives to be trading. For example, if a self-employed trader dies, the personal representative might...
This Practice Note explains how trustees of bare trusts are treated for income tax and capital gains tax (CGT) purposes. Although a bare trust is, in...
Capital losses arising to trustees are calculated in the same way as they are for individuals (for further guidance on capital losses for individuals,...
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Scottish Law
