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Assetless Corporate Trustees – commercial monstrosity?

Corporate trustees are a common feature of modern trading trusts.  The basic rationale is that the use of a company means that any liability that would otherwise accrue – say to a natural person trustee – accrues instead to the company and provided the directors do not breach the duties owed under the Companies Act … Continue reading

Foreign trust: Beneficiaries in charge

It is generally accepted that while beneficiaries are the recipients of trust assets at the trustees’ discretion, beneficiaries have relatively little in the way of enforceable rights. Beneficiaries can request trust information and can ask, but not compel, the trustees to distribute trust assets to them. It is not always appreciated that beneficiaries’ access to the … Continue reading

What makes a settlement nuptial?

Following the Supreme Court decision in Clayton v Clayton (Claymark Trust) fresh light has been shed upon the scope of s 182 of the Family Proceedings Act 1980 in the case of Da Silva v Da Silva. By way of background s 182 gives the Court the discretion following divorce (the section does not apply to de facto relationships)  … Continue reading

Trusts and puppies

When settling a trust it can be useful to consider what happens next.  In this regard the settlement of a trust can be likened to that moment in the pet shop where this adorable puppy all paws and nose and licky tongue and waggy tail and soulful eyes uses its artillery of cuteness to attack … Continue reading

She loves me, she loves me not …

It can be hard enough to deal with being de-friended on Face Book.  But what about when your mother favours the sibling who lived with her for her whole life over you? Rule and Belcher v Rule and Charles Whata J grappled with this reality when an elderly mother entered into a new will days after suffering … Continue reading

Whose house is it?

The transfer of a family home to a trust is a relatively routine occurrence.  The general order of events is: settle trust execute agreement for sale and purchase carry out any  gifting get bank consent register transfer What happens if the last step does not occur? Has the sale in fact been effected?  Particularly in … Continue reading