Private Client

Trusts and Property: A Best Practice Guide for Declarations of trust and gifting property (On Demand)

2023-11-16T14:14:00

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Source: Istock

 

 

Our panellists discussed trust and probate matters – restrictions on title, identifying beneficial ownership and accounting to the correct beneficiaries in a probate or trust sale. 

Speakers:

  • Sarah Cookson, Director & Solicitor, Switalskis Solicitors
  • Philip Askew, Partner & Law Society Property Section Committee Member , Stone King
  • Michael Culver, Founder & Managing Director, Culver Law Ltd

Our speakers considered:

* whether you can you act for both parties (even if you act for both on a purchase)

* how ‘binding’ a Declaration of Trust is: stress tests include separation/divorce, rental properties and unequal split of income, and non-standard, complex or unclear trust deeds

* how to vary an existing declaration of trust

* ID – who is your client

* land registry requirements

* mental capacity issues

* gifts of property and the technicalities and pitfalls to avoid.

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