Failure of gifts

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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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9th Nov
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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9th Nov
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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9th Nov
Practice notes
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...
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9th Nov
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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Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
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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Produced in partnership with Vanessa Lovell Schrum and Caljonah Smith of Appleby, Bermuda 12th Jan
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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Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 12th Jan
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 12th Jan
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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9th Nov
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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9th Nov
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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9th Nov
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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Produced in partnership with Paul Davies of Clarke Willmott 12th Jan
Practice notes
A lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In contrast, gifts...
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9th Nov
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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9th Nov
Practice notes
What is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the settlor and beneficiary of the...
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Produced in partnership with Michael O’Sullivan of 5 Stone Buildings 12th Jan
Practice notes
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or...
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9th Nov

Most recent Failure of gifts content

Practice notes
The intestacy rulesA total intestacy occurs when all of the deceased's property is undisposed of because:•the deceased did not make a Will•the...
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11th May
Practice notes
DefinitionPartial intestacy may arise when a testator has made an effective testamentary disposition of part of their estate but has failed to dispose...
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11th May
Practice notes
The refusal of a gift prior to acceptance is known as a disclaimer.Freedom to disclaimThe law will not force a beneficiary to take a testamentary gift...
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27th Apr
Q&As
As a matter of English law, the beneficiaries of a deceased person’s estate are entitled to alter the disposition of the whole or part of the estate,...
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23rd Apr
Practice notes
Classification of legacies and devisesDue to the doctrines of ademption and abatement, a distinction is drawn between specific, general and...
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9th Apr
Practice notes
When the Will is drafted, it is important to consider as many eventualities as possible, to ensure that the gifts made in the Will can take effect as...
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9th Apr
Practice notes
There are a number of reasons why a gift may fail, including where a gift has lapsed. For further guidance on the various reasons for the failure of a...
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9th Apr
Q&As
For the purposes of the Q&A, we have assumed the life interest trust was established by Will. We have also assumed that the remainderman has a vested...
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15th Feb
Q&As
Section 33 of the Wills Act 1837 (WA 1837) provides that where:•a Will contains a devise or bequest to a class of person consisting of children or...
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15th Feb
Q&As
Where a testator makes a Will and subsequently divorces or has their marriage annulled, section 18A of the Wills Act 1837 (WA 1837) provides that any...
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15th Feb
Q&As
The law will not force a beneficiary to take a testamentary gift against their Will. A beneficiary is free to refuse a gift if they wish to do so.A...
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15th Feb
Q&As
The Practice Note: Payment of legacies states that where a legatee of either a general legacy or a share in residue is a debtor to the estate, the...
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15th Feb
Q&As
The doctrine of satisfaction (or ademption by satisfaction, as it is also known) applies in some circumstances where gifts are made by (in most cases)...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 15th Feb
Q&As
When considering this issue, it is important to identify that the doctrine of ademption operates independently of the testator's intention. See...
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15th Feb
Q&As
Gift to ‘wife’Where the donee is described as the wife of a person, and that person is married at the date of the will, then, in the absence of a...
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15th Feb

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