60 seconds with Richard Dew, Ten Old Square

1. Tell us about Ten Old Square’s work, goals and motivations.

Ten Old Square is a Chancery set providing a comprehensive service in Trusts, Estates, Wills and Probate and associated taxation matters.

We are regularly short-listed for awards and accolades by the leading legal-industry observers and most recently we have won “Chambers of the Year 2015/2106 (STEP)” and “Chancery Silk of the Year 2015 (LEGAL 500)”.

We aim simply to exceed our clients’ expectations and deliver an exemplary service.

2. What do you feel are the main challenges facing the trust industry at the moment, and how will you deal with them?

There is a wide spread perception that the number of new trusts being created – here and offshore – is reducing. This, combined with increasingly complex (and unnecessary) regulation and transparency requirements, means that it can be foreseen that the market for trust services is likely to contract, leading to less trust disputes.

The trust model remains a viable one and indeed one which in the UK is increasingly arising in the form of testamentary trusts. Going forward, it is likely that the trust model will ‘re bound’ as advisers recognise its flexibility and widespread approach.

In the meantime the answer is to continue to be recognised as one of the best providers in the market and to offer services that span the whole spectrum of fiduciary disputes and taxation advice.

3. Where do you see future growth, both in terms of sectors and jurisdictions?

The demand is increasingly for specialism, whether that is specialist disputes knowledge or specialist tax advice. The Bar – and Ten Old Square particularly – are well position to fill such needs having developed over many years considerable knowledge of the most important areas and having the flexibility to adapt to provide new specialisms as they arise.

4. What are clients talking to you about at the moment?

I am currently engaged in some large scale probate and trusts disputes as well as some significant consensual variations and compromises. What they say to me is that large families – combined with significant wealth – will always give rise to disputes or potential disputes that will require specialist knowledge to resolve.

5. What is the biggest lesson you’ve learned during your career?

When to keep quiet, and when to speak. Timing is everything.

6. What would you say to a young person thinking of a career in this industry?

There remain great opportunities for those willing to devote time and energy and who have the stamina and dedication to keep trying. There will always by tough times but the rewards are great.

7. What do you like to do in your spare time?

I am an enthusiastic Scuba Diver, any time and any temperature!

8. You will be speaking at the London Trusts Conference in June on EU considerations: The effect of the Regulation and the impact of matrimonial regimes. What/who are you most looking forward to?

All the topics look great! Look out especially for the panel chaired by Eason Rajah QC on trusts and divorce.