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Disclosure within a narrow compass

The Trusts Act 2019 introduces a statutory presumption that trustees will make basic trust information available to every beneficiary or representative of a beneficiary. For the purposes of the Trusts Act: “beneficiary┬ámeans a person who has received, or who will or may receive, a benefit under a trust (other than a trust for a permitted … Continue reading

Reporting requirements for domestic trusts

New reporting obligations for domestic trusts were introduced by the Taxation (Income Tax Rate and Other Amendments) Act 2020 that will require more disclosure to Inland Revenue. However, an Order in Council is required to set the minimum requirements for this disclosure. Tax policy officials are now seeking feedback on these requirements, which are set … Continue reading

Why did you do what you did?

In the matter of The Piedmont Trust and the Riviera Trust relates to an application for the Jersey Royal Court to approve the final distribution of trust assets in circumstances where the beneficiaries are in agreement regarding the termination of the trusts (but where there is disagreement regarding the allocation of the trust assets between … Continue reading

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