-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
Other blogs have noted what poor bedfellows trusts and relationships make. This observation is supported by the recent decision in Spence v Lynch . Paragraph 3 of Priestley J’s decision in this case neatly setting the scene for the ultimate show down that could be paraphrased “bad things happen to bad trustees.” “[3] The relationship of the man and … Continue reading
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
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
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
The blog post, Is it a bird, is it a plane is it a loan? highlighted the importance of determining the nature of funds advanced to a trust. In that case it was argued that a loan advance was a gift. Another case along the same lines was ultimately resolved between the parties and it was … Continue reading
Relationships and trusts make poor bedfellows when relationships come to an end. Trustees who are bitter over the end of a relationship are often unable to acquit the obligations and duties owed as a trustee to a beneficiary who is no longer loved and cherished. Relationships and trusts can make even poorer bedfellows when trustees are … Continue reading
Relationship property agreements and trusts are poor bedfellows at the best of times. While trusts are a common feature of many couples’ asset and estate planning activities, assets owned by a trust are not relationship property. Although the Property (Relationships) Act 1976 (the Act) can have application to trusts, the provisions that allow parties to contract … Continue reading
A trust can run for up to 80 years at present. While the odd relationship clocks up similar tenure, like trusts many are brought to an end sooner than death does them part. Some settlors of trusts, or their canny advisers, consider the possibility of the relationship not lasting the distance and draft the deed … Continue reading
The jurisdictional boundaries of the Family and High Courts are not always entirely clear in trust matters. While the Family Court has exclusive jurisdiction in relationship property matters, the Property (Relationships) Act 1976 provides that proceedings can be transferred to the High Court in certain circumstances. Further, even if the Family Court is accepted as the appropriate jurisdiction, it may be that … Continue reading
The importance of genuine trust management cannot be overstated. Although a common response to what are ofter seen as “rubber stamp” independent trustees, is to dispense with independent trustees altogether, this approach is dangerous and can make it difficult to evidence an effective trust. The fact is, trust ownership can be a bit of a … Continue reading
Matters of Trust 