Pearse Trust Blog



Attestation - Unwitnessed Deeds Invalidated

Posted by Pearse Trust on Wednesday, Jul 30, 2014

Case Of Briggs & Ors v Gleeds

This blog highlights the importance of ensuring deeds are validly executed. The recent case of Briggs & Ors v Gleeds (Head Office) & Ors [2014] EWHC 1178 (Ch) (15 April 2014) deals with the consequences of the defective execution of 30 salary pension scheme documents over a period of almost 20 years.

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Tags: Legal, Trusts

Beneficiaries Right To Trust Information

Posted by Pearse Trust on Monday, Feb 17, 2014

This blog looks at the recent Bermuda case Re A Trust (2013) SC (Bda) 16 Civ. In this case, the Supreme Court of Bermuda considered the validity and effect of an ‘information control clause’ which provided the trust protector with the right to prevent disclosure of trust information by the trustee to beneficiaries. 

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Tags: Legal, Trusts

Beneficiaries’ Power Of Unanimous Consent: Saunders v Vautier

Posted by Pearse Trust on Monday, Feb 03, 2014

This blog discusses the rule in Saunders v Vautier [1841] EWHC Ch J82 (05 June 1841) as set down by the England and Wales High Court in 1841. The rule is very much in force today and remains useful for trustees and beneficiaries in modern times.

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Tags: Legal, Trusts

Proposed Changes To New Zealand Trusts - A Two Minute Update

Posted by Pearse Trust on Wednesday, Dec 11, 2013

The New Zealand Law Commission ("the Commission") has reviewed trust law generally, and in particular, the much outdated Trustee Act 1956.

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Tags: Legal, New Zealand, Trusts

Avoiding Family Rifts: Importance Of Appointing Independent Trustees

Posted by Pearse Trust on Wednesday, Oct 16, 2013

This blog post highlights the importance of appointing an independent trustee as illustrated by a recent England & Wales High Court action. The case involved a discretionary trust where the settlor had appointed several family members as trustees. This later led to an acrimonious court battle. Whilst the court put to rest the legal dispute, no doubt the same cannot be said for the family feud which arose as a result of the family members having being appointed as co-trustees of the family trust.

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Tags: Legal, Trusts

Succession Planning For Family Businesses

Posted by Pearse Trust on Monday, Oct 07, 2013

One of the toughest decisions that any family business may face is whether the business will be passed on to family members or sold by the retiring generation. This decision not only threatens the continuity of the business, but can threaten the family unit itself and often leads to costly litigious disputes.

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Tags: Legal, Trusts

Legal Capacity Of Trusts – A Must Read For Trust Practitioners

Posted by Pearse Trust on Monday, Sep 16, 2013

As we are aware, a trust is created when a settlor transfers assets to a trustee to hold for the benefit of one or more beneficiaries. The term ‘trust’ simply describes the fiduciary arrangement or relationship between those parties. It is not a legal entity, and does not have juristic personality. It is therefore incapable of holding assets, entering contracts or undertaking any other legal formalities in its own name. Indeed, as Adderly J commented in Tenesheles Trust & ors v BDO Mann Judd (Supreme Court of the Bahamas, 16 November 2009), ‘it is trite law that a trust lacks legal capacity…a trust is an arrangement, not an entity’. 

In a trust arrangement, the appointed trustee is the person or entity with capacity to undertake these legal formalities. In assuming this function, the trustee acts as representative of the trust. The manner in which the trustee exercises this function is governed by the terms of the trust agreement and relevant local trust law.

Holding Of Assets

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Tags: Legal, Trusts

To Pierce Or Not To Pierce The Corporate Veil - Landmark Decision P.II

Posted by Pearse Trust on Wednesday, Aug 21, 2013

In our previous blog post we examined the case Prest (Appellant) v Petrodel Resources Limited & Others (Respondents). This case involved a claim for financial remedies following an acrimonious divorce between oil tycoon Michael Prest and his former wife, Yasmin Prest.

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Tags: Legal, United Kingdom, Trusts

Voidable Trusts – 4 Reasons Why Courts Can Set Aside A Trust

Posted by Pearse Trust on Monday, Jul 08, 2013

Trusts may be set aside by the courts (“voided”) for a variety of reasons.  In this blog we will be looking at four legal doctrines whereby the courts may set aside a trust. These doctrines apply in common lawjurisdictions:

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Tags: Legal, Trusts

Understanding Trustee Duties

Posted by Pearse Trust on Wednesday, Jun 26, 2013

In a previous blog post we discussed how a trust is created when a settlor transfers assets to a trustee to hold for the benefit of one or more beneficiaries. Today we shall examine in greater detail the role of the trustee with particular emphasis on the duties and obligations imposed on a trustee by law or agreement.  

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Tags: Legal, Trusts