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The High Court decision in Re Neal Grenville Johnson Trust (the Trust) reflects a practical approach to the termination of a trust where the trustee has no discretion to distribute capital and there is no power to bring forward the vesting day, which is still 32 years away. The terms of the Trust provided that … Continue reading
Arrangements that vary or terminate trusts are commonly (but not necessarily) recorded in deeds of family arrangement. That said, regardless of how any settlement is styled, to effect a change in accordance with the rule in Saunders v Vautier, or section 121 of the Trusts Act 2019, without the assistance of the Court, strict compliance … Continue reading
Sherwin v JKA Holdings Limited & Ors relates to the Douglas Hilton Family Trust (the Trust), which was settled in 1985 by Dr Douglas Sherwin’s mother on terms that infer that Dr Sherwin, who was the source of the trust’s economic wealth, was the true settlor. This is addressed by Becroft J at [15] as … Continue reading
It is not uncommon for will-makers to specify the age at which beneficiaries are to benefit. The question is, if the beneficiaries have capacity, must they wait? Telford v Telford answers this question by reference to the rule in Saunders v Vautier, and more latterly section 121 of the Trusts Act 2019. By way of … Continue reading
Matters of Trust 