Article Tag: Sarah Goodwin

When a trustee is personally liable…

A case currently proceeding through the High Court, highlights the importance of understanding your duties as trustee and the obligations that the role involves. As reported in The Telegraph, Richard Bonham Christie set up a trust 30 years ago for the benefit of his son. However, his son Peter, now aged 32, is taking action… Read more »

Trustee jailed for theft

A trustee is responsible for looking after assets on behalf of another. In such a role the must perform their duties to ensure that all steps are taken in the beneficiary’s best interests. If a trustee acts in breach of their duties they may find themselves personally liable to the beneficiaries. Taking an entirely dishonest… Read more »

Government encourages bequests to charities

From April 2012, where an individual leaves at least 10% of their net estate to charitable bodies then the inheritance tax rate will be reduced from 40% to 36%. Deciding to include such a bequest to charities means that you will be able to assist charities with their work and less inheritance tax would be… Read more »

Offender’s descendants no longer disqualified from inheriting

Prior to the 1st February 2012, if an individual had made the decision to give up their inheritance or was automatically disqualified from receiving the inheritance, this meant that the individual’s descendants were also unable to benefit from the legacy. The rule of forfeiture, which still applies, holds that an offender should not benefit from… Read more »