The Ties That Bind – Pugachev and what it means for Jersey

An analysis of the possible ramifications of the English High Court’s decision in Pugachev and its impact on Jersey trusts, approaches to ‘trust busting’ and the inherent risks in Jersey’s reservation of powers legislation.

Parliament Votes For EU-wide Trust Transparency

The EU Parliament has voted to introduce a trust registry as part of recent amendments to the Fourth Anti-Money Laundering Directive. It is striking the amendments are included in legislation directed at tackling money laundering. Until recently, AML initiatives have been about compelling financial intermediaries to hold information about their clients – the well known…

Wrongly Executed Will Can be Rectified – Marley v Rawlings & Anor [2014] UKSC 2

The UK Supreme Court has held in Marley v Rawlings and another [2014] UKSC 2 that a mirror will signed by the wrong spouse can be rectified under section 20(1)(a) of the Administration of Justice Act 1982, on the basis that the solicitor who handed the wrong will to each spouse to sign made a…

Beneficiary Secures Victory in Concealed Denial of Trust Claim

A beneficiary recently succeeded in a claim for breach of trust against his grandfather who, having declared that he held the beneficiary’s share as sub-trustee, continued to act as if he had retained the beneficial interest. The significance of the decision in Sheffield v Sheffield and others [2013] EWHC 3927 (Ch) is likely to be confined…

Jersey Revives Rule in Re Hastings Bass

An amendment to Jersey’s trust law came into force on Friday 25th October 2013 to incorporate what has become known as the rule in Hastings-Bass into statute. The rule, which has emerged from nearly 40 years of case law, has traditionally allowed trustees who have made a mistake as to their dispositive powers to apply…

Refresher on Abatement of Legacies – Petterson v Ross [2013] EWHC 2724

The case of Petterson v Ross [2013] EWHC 2724 (Ch) is a recent and useful summary of the correct approach to be taken where there are insufficient assets in an estate to pay specific legacies. The case is useful for will drafters and contentious probate practitioners alike. The case is a useful refresher of the…

Marriage (Same Sex Couples) Act 2013 for Private Client Lawyers

The Marriage (Same Sex Couples) Act 2013 (MSSCA) received Royal Assent on 17 July 2013. Despite the furore accompanying its passage through Parliament, MSSCA comprises a modest 21 sections and 7 schedules. Only sections 15, 16 and 21 came into force on 17th July 2013. Sections 15 and 16 do little to bring about same…