At its heart is the proposition that a court should be able to identify the exact person or persons who will form the beneficiary or beneficiaries of the trust. A more recent case is Protheroe v Protheroe [1968] WLR 519 where the husband, a joint owner with his wife of a leasehold property, purchased the freehold reversion; it was held that because he was a trustee the freehold reversion became subject of the trust although the husband was entitled to recoup the expense of the purchase. Take a look at some weird laws from around the world! the four children of D1 and D3, and the two children of D1 s late sister). Held: The trust was not held valid for the sisters' absolute benefit, but rather as a trust for the purpose of providing for the sisters; that purpose trust was held valid because there were individuals (i.e. In Re Hays Settlement Trust, the court held that it would be prepared to hold that an intermediate trust (one excluding certain specified individuals, and including everyone else) would be administratively unworkable because the a trustees obligations in relation to a discretionary trust are more stringent than for a power of appointment: as trustees are under an obligation to distribute trust property, they would have to carry out a wider and more systematic survey than those with power of appointment. However, it was not possible for the court to draw up a complete list of all the members of the class: this meant that under the conventional test the trust would have failed. Ultimately, the question whether a mere power of appointment or a trust power was created varies with the intention of the settlor. deed of appointment was nevertheless invalid as being too wide and outside the power %%EOF THE MODERN TRUST | The Lawyers & Jurists I see no words in the will to justify me in holding that the testatrix intended that the children should take if her husband did not execute the power., The authorities do not show, in my opinion, that there is a hard-and-fast rule that a gift to A for life with a power to A to appoint among a class and nothing more must, if there is no gift over in the will, be held a gift by implication to the class in default of the power being exercised. Establishing Certainty of Objects in Trusts - LawTeacher.net If you have taken these from a book, put the reference. endstream endobj 36 0 obj<> endobj 37 0 obj<> endobj 38 0 obj<>/Font<>/ProcSet[/PDF/Text]/ExtGState<>>> endobj 39 0 obj<> endobj 40 0 obj<> endobj 41 0 obj<> endobj 42 0 obj[/ICCBased 49 0 R] endobj 43 0 obj<> endobj 44 0 obj<> endobj 45 0 obj<> endobj 46 0 obj<>stream Certainty of objects: it must be clear who the beneficiaries (objects) are. A trustee acts dishonestly if he pursues a particular course of action, either knowing that it is contrary to the interests of the beneficiaries or being recklessly indifferently whether it is contrary to their interests or not (Armitage v Nurse [1998] Ch 241). This is reflected in the provisions of the Trustee Act 1925, s 15. The distinctive feature of this last type of power is that it cannot be released by the appointor.
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