The Law Reports (Chancery Division)
[2012] Ch 132
Court of Appeal
Pitt and another v Holt and another
Futter and another v Futter and others
[2011] EWCA Civ 197
2010 Nov 24,
25,
26;
2011 March 9
Mummery, Longmore, Lloyd LJJ
Deed— Mistake— Application to set aside— Receiver creating discretionary trust and settling proceeds of patient’s damages claim on it for his future care— Receiver failing to take into account inheritance tax consequences of discretionary trust when settlement established— Whether equitable relief for consequences of mistake available
Mental disorder— Receiver— Settlement— Receiver on advice creating discretionary trust and settling proceeds of patient’s damages claim on it for his future care— Receiver and advisers failing to take into account inheritance tax consequences of discretionary trust when settlement established— Whether settlement to be set aside as ineffective transaction
Trusts— Trustee— Duty of trustee— Trustees on advice exercising discretionary powers of enlargement and advancement for purpose of avoiding potential capital gains tax liability— Advisers giving incorrect advice on capital gains tax consequences of transactions— Whether enlargement and advancements to be set aside as ineffective transactions