Hey there! Sign in to join this conversationNew here? Join for free
x Turn on thread page Beta

Trusts Problem question watch

Announcements
    • Thread Starter
    Offline

    0
    ReputationRep:
    This is a part of my equity problem question that's confused me a bit:

    a) On 5th April 2014, Lord Marchmain’s condition worsened. He decided to dispose of his remaining personal wealth by creating a charitable foundation, the Society for the Restoration of Renaissance Art, SRRA. A number of experts in the field were appointed trustees and invited to Beechyhead castle. On his sickbed, Lord Marchmain executed the deed of trust and then declared in front of the other trustees that he was giving £3 million to SRRA. No further paperwork was completed, as Lord Marchmain then lapsed into unconsciousness.

    The questions tells you to advise the executor of his will

    My thinking was that the charity would not be registered and thus he would have to pay taxes and not receive the other kinds of charitable benefits
 
 
 
Poll
Do I go to The Streets tomorrow night?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.