Womble Bond Dickinson (Trust Corporation) Ltd v No Named Defendant [2022] WTLR 765

Wills & Trusts Law Reports | Summer 2022 #187

By a trust instrument dated 29 April 1986 (the 1986 deed), Stephenson Clarke Shipping Ltd, a subsidiary of Powell Duffryn plc and member of the Powell Duffryn group of companies (the PD Group), as the named settlor, settled cash and securities on a discretionary trust for the benefit of employees and former employees of the PD Group (the trust). The trust defined the beneficiaries as ‘the employees and their spouses and dependants and the former employees and their spouses from time to time during the trust period [being the period expiring eighty years from the date of the trust] of the...

Demystifying employment contracts: Understand the essentials

In the first part of a new series, Nick Hawkins explains the key legal principles that govern contracts of employment A term might be implied if it is the usual custom and practice to include such a term in contracts of that particular kind. This might be the case if a term is regularly adopted …
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Re X Trusts [2022] WTLR 355

Wills & Trusts Law Reports | Spring 2022 #186

On 23 October 2020 the Bermuda Supreme Court granted a Public Trustee v Cooper Category 2 application for a ‘blessing’ of the applicant trustees’ decision to develop preliminary proposals for the future administration of an apparently very valuable group of private trusts, referred to as ‘the X Trusts’. The preliminary proposals contemplated restructuring the X Trusts by way of an unequal division of the trust assets between two branches of the beneficiary family. One branch of the family supported these proposals, the other did not.

Implementation of the trustees’ propos...

Will construction: Context is key

Interpreting wills is not a question of dictionary definitions. Elis Gomer examines a case that underscores this principle It is unhelpful to stick too dogmatically to the ‘dictionary’ meaning of a word or term when there is a likelihood that it is being used – for whatever reason – in an unconventional way. The recent …
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Eade v Hogg & ors [2021] WTLR 507

Wills & Trusts Law Reports | Summer 2021 #183

Mr Nodes (the deceased) passed away on 8 March 2019. The deceased’s estate included a large shareholding in a family company (the company). Each of the deceased’s wife and his former colleague (the claimant) also possessed small shareholdings in their own name. By his will, dated 22 October 2015, the deceased left his large shareholding in the company on trust for his wife for life, subject to an overriding power of appointment in favour either or both of his wife and his former colleague, allowing for an appointment of shares ‘up to such number… as shall when added to ...

Clarke-Sullivan v Clarke-Sullivan [2021] WTLR 109

Wills & Trusts Law Reports | Spring 2021 #182

The claimant and the deceased, who both originated from New Zealand, were married. They lived in London from 2006-10 and in Dubai from 2010-15, returning to London before the deceased’s death in 2019.

In 2014, the claimant and the deceased created a discretionary trust under the laws of New Zealand, with New Zealand being the initial forum of administration (the trust). The beneficiaries included the claimant and the deceased, their future issue and organisations that were deemed to be charitable under New Zealand law. The trust was established to hold property intended to be purc...

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...

A v B & ors [2020] WTLR 385

Wills & Trusts Law Reports | Summer 2020 #179

The plaintiff trustees of a discretionary trust governed by Cayman law sought a declaration concerning the power of variation conferred by the trust instrument, and which was in the following terms:

‘The Trustees may, with the consent of the Settlor during his lifetime, at any time and from time to time by instrument in writing vary, add to, revise or modify, the terms and conditions of this Settlement except that no such amendment may be made which either changes any Beneficiary hereunder or alters that [sic] terms of clause (I) of subsection 3.4 of this Settlement.’

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Trusts: After Marley

Mike Muston reviews a case which indicates that the courts will take a ‘common sense’ approach to construction and rectification ‘The case of Millar provides further confirmation, following on from the Supreme Court decision in Marley, that courts will approach cases of construction and rectification on a practical and common-sense basis.’ The case of Millar …
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