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Welcome to Herbert Smith Freehills’ 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, Singapore, … Read more
Fans eager to make a point can tell us a lot about selective use of data in long-running disagreements You never have to look far in life before you find a dispute. Most recently I stumbled upon a classic dispute in the comment section of an online sports article. It was a common tussle trying to … Read more
Summary In recent years the Bermuda, Jersey, and English Courts have considered the scope of a protector’s power to consent to a proposed exercise of a trustee’s power. In particular, these cases have considered whether these consent powers confer an independent decision-making discretion on the protectors (the “wide view”) or merely a power to ensure … Read more
Recent legislation and updated HMRC guidance have expanded the scope of trusts that have to register with HMRC’s Trust Registration Service (“TRS“). Given that trust structures are common features in UK real estate ownership, care should be taken to register any relevant trusts before the applicable deadline. This briefing provides a guide to those involved … Read more
Summary The Privy Council has recently considered the proper scope of a trustee’s power. In short, the Privy Council held that the exercise of a trustee’s power must be within the proper purpose of that particular power. In its ruling the Privy Council did not consider there was an absolute substratum rule (i.e. a rule … Read more
Welcome to Herbert Smith Freehills’ 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, Singapore, … Read more
Welcome to Herbert Smith Freehills’ 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, Singapore, … Read more
Welcome to Herbert Smith Freehills’ 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, Singapore, … Read more
“The Protector’s role is to be a “watchdog” to ensure due execution by the Trustee of the powers vested in the Trustee.”[1] Protectors are commonly used in offshore trust structures as a break stop to the Trustees’ exercise of certain powers. For example, Trustees may have to obtain the consent of the Protector to exercise … Read more
