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When can you rectify trustee mistakes?

Question

 
My client is a trustee of an English law trust who has been advised that a deed they executed is likely to have adverse tax effects which were not intended. The deed was supposed to create a number of interests in possession. However it seems that because of the way it was prepared the deed failed to give effect to this intention and the relevant beneficiaries have instead received contingent interests that are likely to be subject to inheritance tax charges. Is there anything that can be done to amend the deed so that it achieves the intended result? 
 

Answer

 
The client may be able to apply for rectification and/or rescission of the deed. Recent case law has affected the tests that the courts will apply when considering...

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