In the recent decision of Watson v Kea Investments Ltd [2019] EWCA Civ 1759 the English Court of Appeal endorsed the approach taken by the High Court in determining the interest rate to be applied to an equitable compensation payment which arose out of a breach of fiduciary duty. The High Court judge had been … Read more

Welcome to Herbert Smith Freehills’ new monthly private wealth industry updates in Asia. Every month we survey ten 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 update are Hong Kong, … Read more

In the fourth episode of our Private Wealth and Charities podcast series, Richard Norridge, Michael Hunt and Jade Hu discuss the ins and outs of registering a charity in England & Wales. We focus on some common pitfalls and problems which we have seen arise in practice when applying to register a charity, and share … Read more

Summary Trustees often seek to limit their liability in the form of exoneration clauses in trust deeds. As such,  it is generally difficult for a beneficiary to challenge a trustee’s decision that falls within the scope of the exoneration clause. In Sofer v SwissIndependent Trustees SA [2019] EWHC 2071 (Ch), the England and Wales High … Read more

Earlier today, the Hong Kong Court of Final Appeal handed down judgment in Zhang Hong Li v DBS Bank and others a case which has been the cause of considerable discussion in the private wealth and trusts world. The Court of Final Appeal reversed the Court of Appeal’s findings and ruled that the anti-Bartlett clause … Read more

In the recent case of Begum v Ahmed [2019] EWCA Civ 1794, the Court of Appeal granted permission for the Appellant to bring a claim 12 months out of time to apply for financial provision under section 4 of the Inheritance (Provision for Family and Dependants) Act 1975 (the “Act“), where refusing permission could have … Read more

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

Welcome to Herbert Smith Freehills’ new monthly private wealth industry updates in Asia. Every month we survey ten 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 update are Hong Kong, … Read more