Wills & Trusts Law Reports | October 2014 #143In January 1995 Mr Donald Oatley, his wife Mrs Patricia Oatley, their three sons Andrew, Martin and Michael (the three claimants), and a solicitor, Mr Boyd, signed a deed of settlement. The beneficiaries were the spouses and issue of the claimants. Mrs Oatley died in 2002. Mr Oatley contracted cancer in 2006 and died in January 2007.
The Oatleys own a farming company with 4,333 shares owned by each claimant and 13,001 by the settlement. In 1985 Mr and Mrs Oatley created two discretionary trusts for some of their shares of the company, with the beneficiaries being their issue and ...
Simrun Seehra looks at recent case law on rectification of a deed of variation ‘It is not always clear whether a variation results in property being held in trust for a period ending not more than two years after the death and drafting errors have been made which mistakenly define the length of a discretionary …
Continue reading "Short-Term Trusts: Time trials"
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Jennifer Seaman sets out the lessons to be learned from Re Hampel Discretionary Trust ‘It is important to get clear evidence as to the intentions of the parties to the trust deed or settlement up to the date of the deed or settlement and at the time the deed or settlement was executed.’ The remedy …
Continue reading "Rectification: A case of doubt"
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Matthew Bonye and Alexandra Bethell discuss the merits of the various options when looking to remedy a defective document ‘The requirements to be met in order for rectification to be ordered differ depending on whether the mistake is made by both parties or by only one. Rectification is only available in very limited circumstances.’In a …
Continue reading "Construction And Rectification: To err is human, to rectify divine"
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