An update to the STEP Standard Provisions – Mills & Reeve

Posted January 18th, 2024 in drafting, news, trusts, wills by sally

‘On the 2 November 2023, the Society of Trust Estates and Practitioners (STEP) published the third edition of their standard provisions that can be used when will drafting.’

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Mills & Reeve, 18th January 2024

Source: www.mills-reeve.com

UK Pensions Regulator’s new code of practice offers more flexibility for schemes – OUT-LAW.com

Posted January 16th, 2024 in codes of practice, news, pensions, trusts by tracey

‘A new general code of practice issued by the UK Pensions Regulator (TPR) should help improve the operation of pension schemes and manage risk for both members and trustee boards, an expert has said.’

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OUT-LAW.com, 15th January 2024

Source: www.pinsentmasons.com

The Remuneration of Pension Trustees: Some Current Issues – Wilberforce Chambers

Posted October 4th, 2023 in chambers articles, news, pensions, remuneration, trusts by sally

‘This article deals with two discrete aspects of the law and practice relating to trustee remuneration – a recent decision of the Court of Appeal and the Pensions Regulator’s Single Code of Practice.’

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Wilberforce Chambers, September 2023

Source: www.wilberforce.co.uk

The DWP’s consultation on collective defined contribution in retirement – OUT-LAW.com

Posted September 19th, 2023 in consultations, government departments, news, pensions, retirement, trusts by sally

‘The UK government said in a set of July 2023 Mansion House proposals that it would allow commercial UK pension schemes, including master trusts, to provide collective defined contribution (CDC) benefits in retirement.’

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OUT-LAW.com, 18th September 2023

Source: www.pinsentmasons.com

Charity Commission guidance on charities and social media – Law & Religion UK

Posted September 19th, 2023 in charities, Charity Commission, internet, news, trusts by sally

‘The Charity Commission has published new guidance for England and Wales on charities and social media. It begins:

“Social media can be a powerful communication tool for charities, to raise awareness and funds and to better engage beneficiaries. It can help charities reach a much wider audience, much more quickly, than traditional methods of communication.”‘

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Law & Religion UK, 18th September 2023

Source: lawandreligionuk.com

The Remuneration of Pension Trustees – Pensions Barrister

Posted September 7th, 2023 in news, pensions, remuneration, trusts by sally

‘This article deals with two discrete aspects of the law and practice relating to trustee remuneration – a recent decision of the Court of Appeal and the Pensions Regulator’s Single Code of Practice.’

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Pensions Barrister, 7th September 2023

Source: www.pensionsbarrister.com

McGaughey v USS Ltd – derivative actions against directors of a corporate pension trustee – Pensions Barrister

‘In McGaughey v USS Ltd [2023] EWCA Civ 873, two active members of the Universities Superannuation Scheme (the “USS”) applied for permission to continue a derivative action on behalf of the corporate trustee of the USS, Universities Superannuation Scheme Limited (“USSL”), against its current and former directors. USSL is a company limited by guarantee of which its directors were the members. By the derivative action, the two USS active members sought to cause USSL to sue the corporation’s directors for alleged breaches of the duties owed by the directors to USSL. The Court of Appeal refused to permit the claim to go forward.’

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Pensions Barrister, August 2023

Source: www.pensionsbarrister.com

Registration and approval issues – Pensions Barrister

Posted April 27th, 2023 in income tax, news, pensions, trusts by sally

‘Everyone will be familiar with the requirement to provide the prescribed information to be recorded on the register of qualifying occupational and personal pension schemes maintained by tPR,1 and with the obligation to register a pension scheme with HMRC in order to qualify for the tax reliefs available to pensions.2 This article discusses three issues relating to registration and the associated issue of approval of amendments that may not be so common but which may arise occasionally in practice.’

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Pensions Barrister, 27th April 2023

Source: www.pensionsbarrister.com

End of the road for wishful thinking in asset valuations? – Pensions Barrister

Posted April 25th, 2023 in chambers articles, intellectual property, news, trusts, valuation by sally

‘Paul Newman KC has written a summary of the FTT decision in Morgan Lloyd Trustees Limited & ors v HMRC (31 March 2023). The case concerns the appropriate approach to the valuation of intellectual property rights (including domain names), and will be bad news for trustees hoping to rely on eyebrow-raising expert valuations to escape scheme sanction charges.’

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Pensions Barrister, 25th April 2023

Source: www.pensionsbarrister.com

Supreme court rules in favour of halting housebuilding in Shrewsbury park – The Guardian

‘Campaigners have won a supreme court appeal to stop houses being built on a park protected by a 100-year-old statutory trust in Shrewsbury, in a landmark ruling for the protection of green spaces.’

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The Guardian, 1st March 2023

Source: www.theguardian.com

Now What? – The Contesting of Lisa Marie Presley’s Will (Lessons for English Law Testators) – Mills & Reeve

Posted February 2nd, 2023 in amendments, news, trusts, wills, witnesses by sally

‘Priscilla Presley, mother of the recently deceased Lisa Marie Presley, has launched a legal challenge to contest the validity of her late daughter’s Will. The challenge relates to a 2016 Amendment to her daughter’s Will which has the effect of removing Priscilla from her role as trustee of her daughter’s estate, significantly reducing the say that she has over how her daughter’s estate will be managed.’

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Mills & Reeve, 1st February 2023

Source: www.mills-reeve.com

Forfeiture in Trust-Based Occupational Pension Schemes – Wilberforce Chambers

Posted January 24th, 2023 in chambers articles, forfeiture, news, pensions, trusts by sally

‘Before 28 October 2018, when judgment was delivered in Lloyds Banking Group Pensions Trustees v Lloyds Bank [2018] EWHC 2839 (Ch), forfeiture of benefits in occupational pension schemes was hardly a “hot topic”.’

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Wilberforce Chambers, January 2023

Source: www.wilberforce.co.uk

All UK express trusts must now register under anti-money laundering laws – OUT-LAW.com

Posted September 13th, 2022 in money laundering, news, regulations, terrorism, trusts by tracey

‘New UK government requirements for trust registration under the anti-money laundering (AML) and counter terrorist financing (CTF) regulations have come into force.’

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OUT-LAW.com, 12th September 2022

Source: www.pinsentmasons.com

Fiduciaries and the power of investment: when is an ethical investment not an investment? – Wilberforce Chambers

Posted August 16th, 2022 in charities, environmental protection, fiduciary duty, news, trusts by sally

‘The universe of socially responsible or “ethical” investments has been expanding exponentially in recent years.’

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Wilberforce Chambers, 18th July 2022

Source: www.wilberforce.co.uk

Charitable trusts environmental investment ruling could have wider repercussions – OUT-LAW.com

‘A decision by the High Court of England and Wales to allow the trustees of two charitable trusts to exclude investments on the grounds that they conflict with their environmental values could have wider impacts for other organisations involved in investment activity, according to two legal experts.’

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OUT-LAW.com, 12th May 2022

Source: www.pinsentmasons.com

Trustee investment policy: Butler-Sloss & Ors – Law & Religion UK

Posted May 3rd, 2022 in charities, Charity Commission, environmental protection, news, trusts by sally

‘In Butler-Sloss & Ors v The Charity Commission for England and Wales & Anor [2022] EWHC 974 (Ch), the trustees of two charities – the Ashden Trust and the Mark Leonard Trust, whose principal purposes were environmental protection and improvement and the relief of poverty ­– sought clarification on whether they could adopt an investment policy that excluded many profitable potential investments which they considered would conflict with their charitable purposes.’

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Law & Religion UK, 2nd May 2022

Source: lawandreligionuk.com

Financial Provision for Adult Children: What Constitutes a ‘Special Circumstance’ under Schedule One after UD v DN [2021] EWCA Civ 1947, [2021] 1 WLR 595 – Family Law Week

Posted April 11th, 2022 in appeals, children, divorce, families, financial provision, news, trusts by tracey

‘Zoe Harrison, pupil barrister at One King’s Bench Walk, explores Moylan LJ’s judgment and its focus on the importance of dependence.’

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Family Law Week, 29th March 2022

Source: www.familylawweek.co.uk

Case summary: Lee Hudson v Jayne Hathway [2022] EWHC 631 (QB) – Gatehouse Chambers

‘Ms Hathway and Mr Hudson started a relationship in 1990. They had two children but did not marry. They bought a family home in joint names, with no declaration of trusts. Both worked, but Mr Hudson substantially paid the mortgage; the amount he contributed exceeded Ms Hathway’s contributions. The parties separated.’

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Gatehouse Chambers, 30th March 2022

Source: gatehouselaw.co.uk

The boundaries of blessing applications – Re XYZ Trusts [2022] SC (Bda) 10 Civ – Wilberforce Chambers

Posted April 7th, 2022 in chambers articles, families, news, trusts by sally

‘The hearing dealt with a blessing application made by trustees in connection with the restructuring of the trust funds. of some 23 settlements between sub-funds in which separate branches of a larger family would then be beneficially interested. By the time of the hearing, the objections were limited to part of one of the three branches (“the Objectors”) on the basis that the new structure would not have sufficient liquidity.’

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Wilberforce Chambers, 31st March 2022

Source: www.wilberforce.co.uk

Supreme Court agrees to hear case where town council sold land subject to statutory trust without complying with statutory requirements – Local Government Lawyer

Posted March 29th, 2022 in appeals, local government, news, planning, sale of land, trusts by sally

‘The Supreme Court has granted permission to appeal in a dispute over what happens when a local authority disposes of land subject to a statutory trust for public recreational purposes without complying with the relevant statutory requirements.’

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Local Government Lawyer, 29th March 2022

Source: www.localgovernmentlawyer.co.uk