The Weekly Law Reports
[2013] 2 WLR 1200
Supreme Court
Pitt and another v Holt and another
Futter and another v Futter and others
[2013] UKSC 26
2013 March 12,
13,
14;
May 9
Lord Neuberger of Abbotsbury PSC, Baroness Hale of Richmond, Lord Mance, Lord Clarke of Stone-cum-Ebony, Lord Sumption, Lord Carnwath JJSC, Lord Walker of Gestingthorpe
Deed— Mistake— Application to set aside— Voluntary disposition— Receiver creating discretionary trust and settling proceeds of patient’s damages claim on it for future care— Receiver failing to take into account inheritance tax consequences of discretionary trust when settlement established— Whether equitable relief on grounds 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 on ground of inadequate deliberation
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 transaction— Whether enlargement and advancements to be set aside on ground of inadequate deliberation