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The FCA’s Enforcement Watch 2 and what it means for the financial services industry
James Alleyne
The increase in the value of cryptoassets has undoubtedly contributed to the continued interest and adoption of this still relatively new asset class across organisations and individuals. The ease of purchasing, selling or transferring a cryptoasset has improved significantly over the last few years (and which has in part stemmed from the development of the regulatory environment). However, there is still a technical barrier to entry. This presents a practical problem; if your assets pass to your loved ones on your death, how do you ensure that they are able to actually access and benefit from any cryptoassets that you hold?
When a testator makes a will, they must have the requisite testamentary capacity to do so. If they do not, this may be grounds for a disappointed beneficiary to issue a probate claim to challenge the validity of the will after the testator's death.
Agreements between family members regarding ownership of land are not always formally recorded, as they are more likely to trust one another to abide by any promises or assurances made. However, where no formal agreement is in place, the owner of the land may not feel bound to abide by any promise, and recollections may vary about what was actually said, particularly when this goes back a number of years. It is important for advisors to be live to potential interests that may arise in land, even where formal agreements have not been put in place, to assist them in safeguarding their clients’ interests.
There are an increasing number of cases before the courts concerning the misappropriation of estate assets. Typically, this involves assets being misappropriated by a beneficiary, family member, or personal representative following death, but may also concern assets which were misappropriated during the deceased’s lifetime.
This weekend, the national press has reported on another bitter inheritance dispute, this time centred on a strawberry farm.
James Alleyne
Oliver Oldman
James Alleyne
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