Deal or No Deal? The High-Stakes Game of Contesting a Will with a No-Contest Provision Under the 1975 Act

In Sim v Pimlott and others [2023] EWHC 2296 (Ch), the High Court considered the efficacy of “no-contest clauses” in the context of proceedings under the Inheritance (Provision for Family and Dependants) Act 1975 (the “1975 Act”). No contest clauses (sometimes referred to by their Latin tag “in terrorem clauses”) are designed to heavily disincentivise beneficiaries from challenging … Read more

APAC Monthly Private Wealth Legal Developments – June 2023

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

New UK Regulations on Russian Sanctions – Trusts Services

On 15 December 2022, the UK published the Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022 (the “Regulations“) which amend the UK’s principal regulation imposing sanctions on Russia (the Russia (Sanctions) (EU Exit) Regulations 2019 (“Russia Regulations“)). This post just focuses on the impact of the amendments on trusts, however our colleagues in the … Read more

Landmark Privy Council ruling establishes scope and ranking of ex-trustees’ interest in an insolvent trust

Jersey law ruling will have far reaching ramifications for trust administration in common law jurisdictions The Judicial Committee of the Privy Council (the Privy Council) in Equity Trust (Jersey) Ltd (Respondent) v Halabi (in his capacity as Executor of the Estate of the late Madam Intisar Nouri) (Appellant) (Jersey) ITG Ltd and others (Respondents) v Fort … Read more