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Many wills contain clauses which alter the distribution of assets in the event of changing circumstances, such as the death of one of the beneficiaries under the will before the person making it. When drafting such clauses, it is essential that they are absolutely clear to prevent confusion, as a recent case shows. It involved the will of a woman who died in 1973, leaving her estate in trust for her son for his lifetime and then to his children if he had any. If he did not, the estate was...

If you have a legitimate legal complaint, any delay in consulting a solicitor is highly likely to benefit the wrongdoer. A man whose home was taken from him by fraud, but who delayed over 20 years before taking legal action, found that out to his cost. The man had been dispossessed of his home in 1989 by a fraudster who made use of forged documents in successfully having the property registered in his name. The fraudster subsequently transferred the house to his son, who was aware of the fraud. The...

The law relating to the division of family assets on divorce varies widely across the world and the UK is generally regarded as one of the fairer jurisdictions for such financial arrangements in that the assets tend to be divided more equally than in many other countries. Accordingly, where a family with an international lifestyle breaks up and there is a reasonably strong connection to the UK, it is often chosen as the jurisdiction of preference for divorce proceedings by a spouse who might be disadvantaged if the proceedings are...

Is compensation paid to individuals whose businesses have failed due to mis-selling of financial products subject to Income Tax? In a decision that will disappoint many victims of bank wrongdoing, the First-tier Tribunal (FTT) has answered that question in the affirmative. The case concerned seven brothers whose property letting business had been mis-sold interest rate hedging products (IRHPs). The business subsequently failed, allegedly due to the high interest rates imposed by the IRHPs. After they lodged complaints, the relevant bank paid them basic compensation totalling almost £360,000. HM Revenue and...