Bloomsbury Professional 1KBW on Trusts in Matrimonial Finance Proceedings

1 KBW on Matrimonial Finance Disputes Involving Trusts seeks to provide practitioners with practical guidance on matrimonial finance disputes involving trusts. Following the landmark decision of the House of Lords in White v White, courts are now required to test any proposed division of the parties' resources against a yardstick of equality in order to ensure that the outcome of the proceedings is fair to both parties. There is therefore, a need in almost every case for the court to quantify the resources in the case, in order to assess the fairness of the outcome. Increasingly the courts have been confronted by circumstances in which the parties' resources are not held by them directly, but through corporate or trust structures, or sometimes a combination of the two. When a matrimonial court is engaged in the process of quantifying the matrimonial assets, the existence of trusts can throw up a variety of issues which this text seeks to highlight and explain their impact. Key legislation to be covered: - Matrimonial Causes Act 1973 - Insolvency Act 1986, s423 - Family Procedure Rules 2010 - 1985 Hague Convention on the law Applicable to Trusts - Council Regulation (EC) No 2201/2003 - Council Regulation (EC) No 1215/2015. CONTENTS: 1 Introduction 2 Overview of General Principles in Financial Remedy Proceedings 3 Jurisdiction 4 Submission to the Jurisdiction by Trustees 5 Service and Joinder 6 Disclosure 7 Attacking trusts: formation, validity and sham 8 Nuptial Settlements 9 Trusts as Resources: Thomas v Thomas 10 Avoidance of Dispositions 11 Enforcement Materials Insolvency Act 1986 ss 423-425 Limitation Act 1980, ss 8, 9, 21 and 32 Matrimonial Causes Act 1973: Part I and II Matrimonial and Family Proceedings Act 1984: Part III Trustee Act 1925, s 61 Trustee Act 2000, Pt 1 Sch 1 Brussels IIa Regulation (Council Regulation No 2201/2003): Recitals, Chapter I and Chapter II EU Maintenance Regulation (Council Regulation No 4/2009): Recitals, Chapter I and Chapter II 1985 Hague Convention on the Law Applicable to Trusts and on their Recognition Part VII of the Trusts Law (2017 Revision) Cayman Islands Article 9 of the Trusts (Jersey) Law 1984 Jersey as amended by the Trusts (Amendment No.7) (Jersey) Law 2018 Section 14 of the Trusts (Guernsey) Law 2007 Guernsey