Appleby’s conference entitled “A Trust for All Seasons” was held on 16 March at the Radisson Blu, St Helier, Jersey. The seminar was chaired by Michael Stanford-Tuck from Appleby London and included speakers from Appleby’s Private Client & Trusts and Litigation & Insolvency groups as well as guest speakers from 3 Stone Buildings and Withers. The seminar attracted over 130 attendees, including Trust Directors and Managers and In-house Legal Advisors.
The conference was the first to cover the recent English Court of Appeal decision in Futter v. Futter and Pitt v. Holt and its potential implications for Jersey law. Attendees were warned that this judgment represents a fundamental change in approach to dealing with trustee errors. Following the judgment, under English Law, trustees will find it much more difficult to rely on the rule in Hastings-Bass when seeking to set aside decisions made by them on the basis of a misunderstanding as to the tax or legal consequences and for such applications to succeed in future there will need to be a finding of fault or breach of trust against the trustee.
The conference kicked off with a panel session that considered the top ten planning techniques that should be applied to 21st Century trust structures. The second panel session had a distinctly contentious slant and looked to ‘stress test’ modern day trusts. The conference concluded with a light hearted case study that looked at the impact of Futter v. Futter and other issues discussed during the panel sessions.
Fraser Robertson, Partner and Practice Group Head, Litigation & Insolvency at Appleby commented “The conference was extremely well received by our audience, and it will be fascinating to see over the coming months the extent to which the dramatic developments in Futter affect the law in Jersey in this important area for trustees.”