Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Independent trustees definition

What does Independent trustees mean? Independent trustees are individual or corporate trustees brought in to act impartially, free from conflicts, and unconnected with the scheme sponsor (employer) and the scheme’s professional advisers; they are typically professional trustees and are not appointed to represent members. In occupational pension schemes, the term has a specific statutory use in the UK: pensions legislation permits The Pensions Regulator to appoint or require an independent trustee, including on employer insolvency. For these purposes, independence generally means the trustee is neither connected with nor associated with the employer and has no material relationship with the scheme’s advisers. In Ireland,...

Creating trusts by transfer: formalities for chattels, shares, choses in action, future property and land (England and Wales)

Published by a LexisNexis Private Client expert

Practice notes

Creation by transfer of property to trustees

In practice, trusts are commonly established when a settlor conveys assets to Independent trustees, who then hold the property on trust for named individuals. The formalities for a valid voluntary trust (that is, one without valuable consideration) must be observed. A voluntary trust is regarded as fully constituted when:

the instrument declaring the trusts has been duly executed
the settlor has, having regard to the nature of the asset, done all that is necessary to transfer the property to the trustees

In practice, the property most frequently settled includes:

beneficial interests under other trusts
insurance policies
debts
chattels
Shares in a company
land

Solvency both before and after an undervalue transaction is significant in guarding against the trust being set aside. Although rare, a settlor may choose to make a declaration of solvency prior to creating the trust.

Formal Requirements to constitute a valid voluntary trust

The settlor must have taken every step required to effect the transfer of the property to the trustees...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...