In Routier and another v Commissioners for Her Majesty’s Revenue and Customs [2019] UKSC 43, the UK Supreme Court overturned an earlier Court of Appeal ruling and held that a testamentary gift of assets in the UK to a charitable trust in Jersey was entitled to inheritance tax (“IHT“) relief. The decision turned on whether … Read more
Background In Chan Chi Wai v Chan Sau Wah [2019] HKCFI 1662 an application was made to vary a costs order nisi granted by the Hong Kong High Court regarding a dispute between five brothers over the legal and beneficial ownership of two houses in the New Territories (Original Proceedings). The applicants were two of … Read more
Next friends act on behalf of parties in legal proceedings who are not able to act themselves (for example, because of mental incapacity). In two recent decisions, the courts took the opportunity to reiterate the legal principles relating to the appointment and authority of a next friend and to make clear the capacity of a … Read more
Welcome to Herbert Smith Freehills’ new monthly private wealth industry updates in Asia. Every month we survey a number of Asian jurisdictions for legal developments concerning trust and estate planning which are of interest to the private wealth industry, and provide a succinct summary in a table format. The jurisdictions covered in the updates are … Read more
The Australian Tax Office has made two recent determinations which sink the law in this area into further confusion. The first draft determination, TD 2019/D6, concludes that a foreign resident beneficiary presently entitled to a capital gain of an Australian resident non-fixed trust on an asset which is not taxable Australian property (non-TAP) is assessable … Read more
In this second part of our third episode of our Private Wealth and Charities podcast series Richard Norridge and Mark Adair discuss music and law. Mark had a successful career as a composer before joining the firm, and shares his thoughts on what he has taken from his creative past into his legal career. The … Read more
In the third episode of our Private Wealth and Charities podcast series Richard Norridge and Mark Adair discuss music and law. Mark had a successful career as a composer before joining the firm, and shares his thoughts on what he has taken from his creative past into his legal career. The third episode of the … Read more
The second episode of our Private Wealth and Charities podcast series considers some recent decisions from the English courts in respect of out of time claims for reasonable financial provision brought under the Inheritance (Provision for Family and Dependants) Act 1975. The second episode of the series is also now live on Apple Podcasts, SoundCloud, … Read more
In the recent decision in Cowan v Foreman [2019] EWCA 1336 the Court of Appeal overturned the first instance decision and granted permission to the applicant to bring a claim under the Inheritance (Provision for Family and Dependants) Act 1975 (the “Act“) 17 months out of time. Confirming that the guidelines in Berger v Berger … Read more
