Private wealth and trusts
In a recent case in the Royal Courts of Jersey, a bank was fined for not obtaining the necessary authorisation before transferring the assets of a deceased client to a foreign court. This case serves as a useful reminder of … Continue reading
From 31 January 2018, UK authorities can use new and expansive investigative powers to require both individuals and corporate bodies to provide information as to how they acquired property. Known as Unexplained Wealth Orders (“UWOs”), these new obligations to disclose … Continue reading
In a recent decision, Sargeant v Sargeant  EWHC 8 (Ch), the English High Court considered the circumstances in which the English Court will grant permission for out-of-time applications for financial provision from a deceased’s estate under the Inheritance (Provision … Continue reading
In the recent case of Vucicevic v Aleksic  EWHC 2335 the High Court (Bristol District Registry) considered the rules relating to gifts in the context of homemade wills. The court concluded that instead of being an absolute gift, the … Continue reading
In the latest decision in the long running Pugachev dispute, the High Court considered the effect of five trusts set up by Mr Pugachev, and whether the trusts were shams. Birss J held that he would have been prepared to … Continue reading
The ATO in Australia continues to target privately owned and wealthy groups, with specific focus on groups with risky trust structures that exhibit characteristics of tax avoidance or evasion.
As part of the Australian Government’s Enterprise Tax Plan, the corporate tax rate has been reduced to 27.5 per cent for entities that satisfy the annual turnover threshold requirement, which applies progressively from $10 million in the 2016-17 income year … Continue reading
Herbert Smith Freehills’ continued growth in the areas of tax disputes and private wealth has been reflected in a string of new lawyers joining the firm. James Rickards has joined the firm’s London office after 15 years’ practice as a … Continue reading
In a recently released judgment, In the matter of C Settlement  JRC 035A, the Jersey Royal Court confirmed that, in principle, a trustee can withhold information from a beneficiary with capacity about his rights under a trust. However the … Continue reading
We are delighted to announce that Richard Norridge, our Head of Trust & Estates Disputes and Head of Private Wealth – Asia, has been named as a leading lawyer in the Citywealth Leaders List.