Bowack & ors v Saxton [2020] WTLR 777

Wills & Trusts Law Reports | Autumn 2020 #180

The claimants as respective settlor and trustees of two trusts of investment bonds sought declarations that the trusts had been completely constituted, or alternatively rectification so that such constitution has been properly made. The application was unopposed.

In 2013 the claimants (who were husband and wife) were advised by an independent financial adviser to purchase bonds issued by AXA (Isle of Man) Ltd, which on purchase would be settled on discretionary trusts for the benefit of a class of potential beneficiaries, including their only child, the defendant. The claimants we...