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Express trust on account of pocket money

A trust can exist independently of any deed or express arrangement.  This was demonstrated in a recent case where a father was required to account to his two daughters for gifts and money they earned in a school holiday job. The case was widely reported as kids sue father for pocket money has a catchy ring to it … Continue reading

More on anti-money laundering legislation

Further to the post What do you need to know about money laundering the attached article provides more insight and background into this new and complex area of law. New obligations affect lawyers_LT 821_21 June 2013

What do you need to know about money laundering?

Anti-money laundering, counter financing of terrorism could be coming to a trust near you soon.  The article below was published in the Law News earlier this month.  Although pretty dull stuff, the message to take away is some of this stuff might apply to you.  Read on (perhaps fortify yourself with a strong coffee first – there … Continue reading

Trustee liability webinar

Vicki Ammundsen is presenting a webinar on winding up trusts on 19 June 2013 at 10.30. The one hour webinar will be followed by 1/4 hour for Q and A. This webinar, which will include the opportunity to ask questions, refers to recent case law to canvas why, how and where trustee liability arises; and what trustees … Continue reading

Another shot across the trust bow

This blog explores the increasing difficulties the asset rich party has hiding assets from his or her former partner in the face of judges who really want to help. The case in question (Prest v Petrodel) is a UK case, and accordingly, it is important to appreciate that the equivalent relationship property legislation includes broader powers … Continue reading

Forced sale of trust owned property following relationship split

As has been discussed in a number of previous blog posts, relationships and trusts make poor bedfellows.  One of the difficulties that can be encountered is that the division of property, that would otherwise fall to be determined in accordance with the Property (Relationships) Act 1976, can be somewhat less straight-forward when what you are … Continue reading

Life interest not protected by a trust

A recent relationship property case highlight the often overlooked need to appreciate what is, and what is not, protected by a trust.  The facts are as follows: marriage breaks up husband’s assets, which were owned since before the marriage, were retained by him pursuant to a relationship property agreement some years after the marriage ended … Continue reading