Beware the conditional gifts – High Court rules children of beneficiary take gift subject to conditions subsequent in will despite lack of knowledge

A recent decision of the High Court clarified that where a beneficiary of a will predeceases the testator and the gift vests in the beneficiary’s children under s. 33 of the Wills Act 1837, those children take the gift subject to the same condition subsequent that would have bound the beneficiary. The ruling also confirmed … Read more

FATF Guidance in relation to the Risk Based Approach for Trust and Company Service providers – helping TCSPs design effective measures to manage money laundering/terrorist financing risks

The Financial Action Task Force (FATF) published updated guidance in relation to the Risk Based Approach (RBA) for Trust and Company Service Providers (TCSPs) on 26 June 2019 (the Guidance).  A copy of the Guidance can be found here. The Guidance has been developed to assist TCSPs professionals, practitioners with TCSPs as customers, and countries … Read more

New look Private Wealth and Trust Disputes Blog

Welcome to the new look Herbert Smith Freehills Private Wealth and Trust Disputes Blog. Our blog has recently been updated with a new design. As well as a new look, the subscription process of our blog has recently been updated. Our blog now offers the opportunity to choose what jurisdictions/categories you want to receive alerts … Read more

Australian Treasury’s proposed extended significant global entity definition may include trusts

On 20 July 2018, the Australian Treasury released Exposure Draft legislation to extend the definition of a significant global entity (SGE). As a result, the extended definition of an SGE may include members of large private groups headed by unlisted companies, trusts (including discretionary trusts), partnerships or other investment vehicles. This will have wide ranging … Read more

Herbert Smith Freehills Private Wealth Seminar – Jersey, 10 July 2018

Herbert Smith Freehills LLP is pleased to announce that we are holding a Private Wealth Seminar at lunchtime on 10 July 2018 in Jersey. The seminar will be considering the current and future focus of HMRC in connection with estate planning and key issues arising when tax and other professional advice goes wrong. Topics covered will include: Penalties … Read more

HSF Private wealth team boosted by three promotions

Herbert Smith Freehills’ highly regarded private wealth team has been boosted by the promotion of Joanna Caen and Gareth Keillor to Partner and Of Counsel respectively.  HSF’s private wealth team specialises in trusts, estates, charities, family company and mental capacity issues.  It frequently collaborates with other specialists across the firm including real estate, tax, funds … Read more