Harvey & anr v Van Hoorn [2023] WTLR 1323
Wills & Trusts Law Reports | Winter 2023 #193This was a claim for an order under the Variation of Trusts Act 1958, or alternatively a direction that the trustees of a settlement be at liberty to implement an arrangement involving the release and reimposition of certain powers. The claimants were the only trustees of the trust, and were also, respectively, the widow of the settlor, who had become the trust’s life tenant upon his death, and the settlor’s only child, who was also one of the objects of a discretionary power of appointment under the trust. They were concerned about the capital gains tax consequences that would ...
Swan & ors v Gibbs & ors [2020] WTLR 1109
Wills & Trusts Law Reports | Autumn 2020 #180Applications under the Variation of Trusts Act 1958 were made in respect of will trusts referred to as ‘the Baronetcy Trust’, under which property was held in two funds known as ‘James’s Fund’ and ‘James’s Children’s Fund’, and ‘the Lady Cayzer Will Trust’ in relation to property termed ‘the Molly & Lily Shares’. The primary beneficiaries of the relevant trusts were James Cayzer-Colvin and his two daughters, Molly (aka Mollie) and Lily. At the time of the applications James was 55, Mollie 24 and Lily 21. There were no minor beneficiaries of the trusts but persons unborn or u...
Bathurst v Bathurst [2016] EWHC 3033 (Ch)
Wills & Trusts Law Reports | Summer 2017 #168This was an application under the Variation of Trusts Act 1958 to change a provision relating to the appointment of new trustees of a settlement. Following the death of the settlor, the statutory power under s36 Trustee Act 1925 applies. The variation proposed was that for the future, the principal beneficiary for the time being should have the power to appoint need trustees, with the written consent of the trustees for the time being.
All of the adult beneficiaries of the settlement, and three of the four current trustees supported the change. It was opposed by the fourth trustee...
A v B [2016] EWHC 340 (Ch)
Wills & Trusts Law Reports | June 2016 #160An application was made on 16 February 2016 to vary the trusts of the will of a testator (will) and of a settlement made by reference to the will (settlement) by the testator’s brother (settlor) pursuant to the Variation of Trusts Act 1958. The claimants included the eldest surviving son and eldest grandson of the settlor. The defendants included the trustees of the will and the settlement (trustees) as well as a class of the settlor’s descendants and their respective spouses who were beneficiaries under the will and the settlement.
The trust funds of the will...
Allfrey v Allfrey & Ors [2015] EWHC 1717 (Ch)
Wills & Trusts Law Reports | September 2015 #152By a deed dated 24 July 1986, the ninth defendant (D9) made an accumulation and maintenance trust for IHT purposes (the settlement) for the benefit of his children (a class which has now closed): the claimant (C), the sixth defendant (D6) and the eighth defendant (D8).
The settlement provide d an initial trust for C, D6 and D8 at 25 in equal shares with a provision that each child’s share should be retained and held on engrafted trusts which have since been superseded. There was also a wide power of appointment in favour of the children, their spouses and issue, subject to r...
Wright & anr v Gater & anr [2011] EWHC 2881 (Ch)
Wills & Trusts Law Reports | April 2012 #118Edward Greenstreet died intestate on 28 October 2009 and his estate of £514,600 passed to his son, Kieran. Kieran died intestate on 17 May 2010. Kieran’s estate of £6,000, combined with the estate of Edward, passed to Kieran’s three year old son, Rory Greenstreet. The aggregated estates were held on statutory trusts for Rory contingently on his attaining 18 or marrying or forming a civil partnership under that age.
Kieran’s personal representatives were Ellen Wright (Kieran’s partner and Rory’s mother) and Michael Greenstreet (Kieran’s uncle). ...