Payne & anr v Tyler & anr [2019] WTLR 1221
Wills & Trusts Law Reports | Winter 2019 #177By his will the deceased, who died in November 2010, left his estate as to one half to his widow. She, by a deed of variation complying with s142 Inheritance Tax Act 1984 ( ‘IHTA ‘) ,varied the will in order to settle her half share on a discretionary trust of which the beneficiaries were herself, her children and remoter issue. The trust included a power of appointment in favour of the beneficiaries.
In 2012, the widow was in need of additional income. The trustees proposed making an appointment to the widow giving her an irrevocable life interest in the trust f...