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POWERS OF APPOINTMENT vol 33

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POWERS OF APPOINTMENT vol 33

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About this title—authors, overview

Commentary

1 General

2 Bare and fiduciary powers: trusts

3 General, special and hybrid powers

4 Classification by reference to donee’s interest

5 Creation of powers

6 Operation of appointments

7 Effect of appointments on interests in default

8 Effect of appointments on later acquired funds

9.1 Effect of the rule against perpetuities

9.2 The common law rule

9.3 The Perpetuities and Accumulations Act 1964

9.4 The Perpetuities and Accumulations Act 2009

9.5 Varying the trusts to obtain a new perpetuity period

10 Certainty of objects

11 Children

12 Illegitimate and legitimated children

13 Adopted children

14 Duties of appointors in exercising powers

15 Requirements of a valid exercise of a power

16 Intention to exercise a power

17 Requirements of the instrument creating the power to be strictly observed

18 Exception in the case of testamentary appointments

19 Exception in the case of appointments by deed

20 Consent and other requirements that must be observed

21 Equitable aid for defective execution

22 Exercise of a non-existent power

23 Non-execution: court intervention

24 The exercise of dispositive powers by trustees

25 Situations where a trustees’ exercise may be challenged

26 Excessive execution

27 Fraud on a power

28 Application of the doctrine of fraud on a power to releases and revocation

29 The rule in Hastings-Bass

30 The facts of Futter and Pitt and decisions of the lower courts

31 What was thought to be the ratio decidendi of Hastings-Bass?

32 The revised ratio of Hastings-Bass

33 When can the exercise by trustees of a dispositive power be set aside?

34 What are the duties of a trustee?

35 Professional advice

36 Void or voidable?

37 When is there ‘inadequate deliberation’

38 The equitable jurisdiction to set aside a voluntary transaction for mistake

39 Gibbon v Mitchell

40 What is a mistake?

41 When mistake makes a transaction voidable

42 Mistakes as to tax

43 Delegation of powers

44 Appointments by minors

45 Powers of soldiers, sailors and airmen

46 Effect of bankruptcy of donee

47 Effect of a lack of mental capacity

48 Power given to trustee

49 Powers of revocation and new appointment

50 Mode of revocation

51 Impliedly reserved power of revocation

52 Survival of power of new appointment after revocation of appointment

53 Release of power exercising power of revocation: time of revocation

54 Effect of marriage or civil partnership, and dissolution or annulment of marriage or civil partnership, on testamentary appointments

55 Release of powers

56 Release of non-fiduciary powers

57 Release of fiduciary powers

58 Implied releases: indorsement of releases

59 Disclaimer of power

60 Power of maintenance

61 Power of advancement

62 Meaning of ‘advancement or benefit’

63 Limitations on the width of ‘benefit’

64 Settled advances

65 Creating discretionary trusts

66 Powers of appointment in relation to income tax

67 Powers of appointment in relation to capital gains tax

68 Powers of appointment in relation to inheritance tax

69 Inheritance tax: potentially exempt transfers

70 Inheritance tax: relevant property trusts

Stop drafting from scratch and work more productively.

Offering an unrivalled collection of non-litigation precedents for everything specialist and generalist practitioners are likely to encounter.

TAKE A FREE TRIAL