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It is common for appointment as a final beneficiary to be considered a higher ranking appointment than a disretionary beneficiary. However, what does it really mean to be a final beneficiary? Fundamentally, this might often be no more than the right to receive all or part of the remaining trust assets (if any) when the … Continue reading
Testamentary trusts arise in many circumstances and for many reasons. In Castle Trustees Limited the deceased provided for the residue of his estate to provide income for his children throughout their lives with a 1/4 share of the total residuary estate being distributed in equal shares to the grandchildren following the death of each child. … Continue reading
“Retaining” the trust when a relationship ends is often not as straight-forward as the relevant parties might consider. This is highlighted in Collinson v Collinson & Co Limited where orders were sought for variation to a trust to allow the inclusion of one the settlor’s child and a any future children with his new party. … Continue reading
Robson v Robson helpfully outlines the process to follow when an executor has neglected to prove a will. In this case the named executor did not apply for probate, or renounce. No reasons were given. The substitute executor’s solicitors wrote to the executor when more than six months had elapsed inviting the named executor to … Continue reading
AB and BB v CB, DB and EB relates to an application for rectification of a trust deed to remove the requirement for an independent trustee in circumstances where the original trustees were the settlors and a solicitor who was related by marriage. The settlors were of the view that the strict requirement for independence … Continue reading
In Estate of MTMW Pepere Boldt J declined to validate a transcript of two videos as a valid will. Boldt J noted that the deceased was plainly unwell and that it would have been impractical to draft and execute a formal will. Boldt J recorded at [8] that a “… transcript of a video recording … Continue reading
The question posed by the court in An application by Hoglie Trustees Limited as trustee of the Larry Robertson Family Trust was whether the Larry Robertson Family Trust (the Trust) was void from inception due to lack of certainty as to the Trust’s objects. Relevantly section 15 of the Trusts Act 2019 provide that: As … Continue reading
In Gallagher-Dekker v Gallagher Anderson J carefully traverses the matters the Court will take into consideration when deciding whether trustees of a testamentary trust should be removed and replaced with a professional trustee. By way of background: Sections 112 and 114 of the Trusts Act 2019 provide that the Court may remove a trustee and/or … Continue reading
Matters of Trust 