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Eating its head off

In Preston v Preston the Court of Appeal notes an observation of counsel that “the matter has eaten its head off.” By way of background: The Grant Preston Family Trust (the Trust) was settled in 2004 three years before Mr Preston met Mrs Preston.  The beneficiaries of the  Trust included Mr Preston’s children from a … Continue reading

Arbitration on whose terms?

Ryan v Lobb relates, amongst other things) to a question of interpretation of a clause in a trust deed of the Lothbury Trust (the Trust) relating to the resettlement of trust assets in the event of separation.  While on the face of it a provision dealing with the settlors’ separation appears prudent; as was also … Continue reading

A fishing we shall not go

Charlotte Gavin and Daniel Powell are siblings who have been engaged in sustained litigation relating to trusts settled for their respective benefit, together with other family members that are their effective inheritances with each only intended to have recourse to the other’s trust if their own trust fails (see Powell v Powell). Charlotte seeks to … Continue reading

New trust reporting obligations

The Taxation (Income Tax Rate and Other Amendments) Act 2020, which was introduced on 2 December 2020 and enacted on 7 December 2020 following Royal Assent introduces new disclosure requirements for trusts. The Commentary to the Bill explains the new disclosure requirements at pp 18 to 19 as follows: “Detailed analysis Information required to be … Continue reading