01 In terms of the Trusts and
Trustees Act, the Court is the overseer of the operation of trusts
from their inception to their termination. Evaluate this statement
with particular reference to ad hoc legal provisions which vest
this power in Court.
02 Discuss the rights that a settlor has when
he settles a trust with particular emphasis on the implications
arising when a settlor retains a high degree of control over the
assets settled in trust.
B ACCOUNTS AND ADMINISTRATION
01 Accounts generally aim at offering a true
and fair view of the assets for the benefit of third parties.
Relate this statement, if at all, to the account-keeping duties of
02 Beneficiaries and Settlors make their
requests to trustees via letters of wishes. Examine the nature of
the letter of wishes and the effect on the actions of the trustees
that this may have.
01 "The tax treatment of trusts in Malta
provides neither choice nor opportunity". Discuss this
02 What are the advantages and disadvantages of
a settlor retaining an interest in a settlement, with particular
reference to taxation issues?
D INTERNATIONAL ISSUES
01 CBEG Prize topic:
You’re approached by a married couple, both British citizens of
Greek descent, who own a house in an affluent area of London, which
is their only residence and a small IT business that makes an
annual profit of around £1 million, which is their main source of
income. The wife has taken up property development as a hobby and
has one or two small properties across the Southeast of England at
any time, which she works on on weekends and aims to sell within a
year of purchase. The husband has recently inherited some land in
Northern Cyprus and the couple would like to have new Wills to take
this into account, naming their son and two daughters as equal
beneficiaries of their shared property. Give a detailed analysis of
the issues that a conscientious will writer should take into
account at each stage of the will writing process, from taking
instructions to delivery of the completed documents.
02 The Hague Convention on the Law Applicable
to Trusts and on their Recognition was instrumental to promote the
international recognition of trusts, especially in jurisdictions
that do not have domestic trust legislation. Consider this
statement with particular review of the salient articles of the