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The Privy Council has allowed the appeal in Grand View Private Trust Company Limited v Wong. By way of background, the former individual beneficiaries of a substantial private discretionary trust sought to a challenge the trustee’s decision to appoint the Wang Family Trust (a perpetual purpose trust) as a new beneficiary, and to then transfer … Continue reading
The reporting requirements for domestic trusts (and estates) that derive a small amount of income but have not (or cannot register as non-active pending an increase in the non-active limited introduced by the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Bill (No 2)) have been varied so that such trusts and estates … Continue reading
Probating a will is generally accepted as an essential step to allow executors to administer an estate. However, where there are challenges or other complications, it is important to appreciate that there may be steps that can be taken without probate. As executors derive title from the will, rather than probate (which merely proves the … Continue reading
The Blackberry Family Settlement (the Trust) is governed by Jersey law. The matter came before the Royal Court of Jersey to establish the validity of a Deed of Retirement and Appointment of Trustees (the DoRA) that was no in accordance with the terms of the Trust, which specified who could appoint trustees in order of … Continue reading
Disclosure requests in the context of trusts, wills and estate can raise complex issues that can require the assistance of the court to resolve, particularly following the introduction of the Trusts Act 2019 and before the expected case law that will be realised in due course. However, in some cases it is simply a matter … Continue reading
The background of this matter is set out as follows in Cooke J’s judgment: In Armani v Armani Walker J considered the threshold for the appointment of a receiver in the following terms at [86]: My view is that the ordinary meaning of “reasonable necessity” does not precisely equate with a measure of “last resort” … Continue reading
Cooke v Butler, which relates amongst other things to a dispute regarding whether the sum of $100,000 paid to a beneficiary was a loan, considers the issues of common interest privilege and the practical parameters of disclosure and discovery in the context of litigation between trustees and a beneficiary. As stated at [15]: Associate Judge … Continue reading
The Judicial Committee of the UK Privy Council (the Privy Council) has ruled four to three in Equity Trust (Jersey) v Halab and ITG v Fort Trustees (Guernsey that there is no chronological priority for trustees where there is insolvency. Rather the approach taken is one of pari passu: that is, trust assets should be … Continue reading
Nadan v Sharma relates to an application for the removal of trustees and the appointment of an independent corporate trustee in circumstances where the trustees’ marriage has ended and the trustees are deadlocked. Of note is that prior to the application for removal was made following two arbitral awards in respect of the jointly settled … Continue reading
D and E Limited v A, B and C relates to the appeal of the High Court decision in A v D and E. See Breach of parental fiduciary duties. Simply put, the Court of Appeal (by a majority decision) allowed an appeal against the ground breaking decision of Gwyn J holding that a parent … Continue reading
Matters of Trust 