Equity and Trusts help with answer/ideas attached

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castgaming
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Hey there, my question I need guidance on is below. I've attached a spreadsheet where I've tried to split up the points that need to be discussed and included cases and law I think it relevant and sort of what I want to talk about from those cases. Any advice/help with the answers would be much appreciated!



On 1 April 2018, Eggbert, a very wealthy retired former barrister and lecturer, conveys the legal estate in Blackacre to Tim and Alan to hold on trust ‘For a person whose identity will be disclosed to them at a later date’. Later he orally instructs Tim and Alan that they are to hold the property on trust for Joan his illegitimate daughter. They both sign and date two copies of a memorandum witnessed by Eggbert’s solicitor James agreeing to hold Blackacre for Joan. James keeps a copy on file and sends the other copy to Joan.

A month later on 4 May 2018, Eggbert wrote identical letters to his sisters Jenny and Margaret in the terms “You are joint beneficiaries of Whiteacre under my will. Unless I hear to the contrary you are to hold Whiteacre for my illegitimate son Christopher.” Jenny received her letter on 6th May, and replied accepting Eggbert’s wishes but Margaret was away on holiday, returning on 17th June.

Eggbert executed his will on 25th May and died on 15th June. His will provides as follows:

‘This is the last will and testament of me, Eggbert Whalley of Droop Hill, Lunecaster.

1. I hereby revoke all former wills and testamentary dispositions.

I appoint Tim Jones and Alan Smith to be executors and trustees of this my

will (hereinafter called ‘my trustees’).

3. I give the following gifts free of tax and costs of transfer:

(a) I leave Whiteacre to my sisters Jenny and Margaret as joint tenants absolutely.

(b) I leave my cottage at Ambleside to my friend Seth Butcher trusting that he will see to it that my old friends, not mentioned in this will, whom he considers deserving shall have the contents of the wine cellar.

(c) I leave 500,000 £10 nominal value shares in Conqueror plc to my trustees to be divided amongst my colleagues in such amount as my trustees in their absolute discretion shall determine, save that my dear old friends and colleagues William McTavish and John Pratt shall each receive at least 10,000 shares each. At the time of his death, Eggbert held 750,000 shares of that class in Conqueror plc.

(d) £450,000 and a parcel of land Greenacre valued at £300,000 to erect and maintain a temple to the Goddess Diana to be open to the public.

(e) My collection of Ming Dynasty ceramics I leave to my nephews John and Peter, the latter having first choice as to which half in value he desires, subject to my colleagues in the Lunecaster Law School having the right to purchase one piece each at the nominal value of £10 as a memento of our working together.



(f) My houses in Peston are to be given one each to my grandchildren and then to John Jones, Gareth Grumple, Elaine Smith and Annabel Armstrong.



(g) The sum of £2.75 million to my trustees for the maintenance of my

invalid sister Elizabeth Whalley and for the training of my son Christopher up to university grade.



(h) My trustees shall invest half of any monies held by them under this my will in what they consider to be, blue chip securities, and the rest are to be invested in accordance with their powers of investment under the Trustee Act 2000.



4. I give the residue of my estate to my nieces Linda and Susan in equal shares absolutely, hoping that they will keep the bulk of it for their children and donate the rest to the RSPCA animal home in Lunecaster.’



Eggbert has seven grandchildren at the time of his death and owned 18 houses in Peston. William McTavish and John Pratt are both lecturers in Lunecaster Law School where Eggbert lectured for 17 years after a successful 20 year career at the Bar. The least valuable Chinese ceramic is worth £250 whilst the most valuable a rare early Ming Dynasty vase is valued at circa £380,000 plus.
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lancsgaming
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Cheers for your answer mate. Was going to do mine today. Big up Lancaster Uni!!
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Bitesizelaw
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Re the shares
I think that suggesting the gift of shares would fail for administrative unworkability is questionable. If you look at the examples in McPhail and other cases, the facts here are, arguably, distinguishable IMO. If,as you suggest, it definitely would fail, then there is no point in discussing any issue of uncertainty regarding the objects.
Wouldn't Sachs LJ also work re certainty of objects? A discussion Saunders v Vautier is probably not relevant as it would not be possible to ascertain all the potential beneficiaries. Why do you need to discuss the distinction between exhaustive and non-exhaustive DTs? I would question whether this is relevant or not.

Well done for putting up your ideas. It's shame you haven't had any discussion so I thought that I would try to get the ball rolling for you.

Amanda Grant (private property law tutor Leicester)
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(Original post by castgaming)
Hey there, my question I need guidance on is below. I've attached a I spreadsheet where I've tried to split up the points that need to be discussed and included cases and law I think it relevant and sort of what I want to talk about from those cases. Any advice/help with the answers would be much appreciated!



On 1 April 2018, Eggbert, a very wealthy retired former barrister and lecturer, conveys the legal estate in Blackacre to Tim and Alan to hold on trust ‘For a person whose identity will be disclosed to them at a later date’. Later he orally instructs Tim and Alan that they are to hold the property on trust for Joan his illegitimate daughter. They both sign and date two copies of a memorandum witnessed by Eggbert’s solicitor James agreeing to hold Blackacre for Joan. James keeps a copy on file and sends the other copy to Joan.

A month later on 4 May 2018, Eggbert wrote identical letters to his sisters Jenny and Margaret in the terms “You are joint beneficiaries of Whiteacre under my will. Unless I hear to the contrary you are to hold Whiteacre for my illegitimate son Christopher.” Jenny received her letter on 6th May, and replied accepting Eggbert’s wishes but Margaret was away on holiday, returning on 17th June.

Eggbert executed his will on 25th May and died on 15th June. His will provides as follows:

‘This is the last will and testament of me, Eggbert Whalley of Droop Hill, Lunecaster.

1. I hereby revoke all former wills and testamentary dispositions.

I appoint Tim Jones and Alan Smith to be executors and trustees of this my

will (hereinafter called ‘my trustees’).

3. I give the following gifts free of tax and costs of transfer:

(a) I leave Whiteacre to my sisters Jenny and Margaret as joint tenants absolutely.

(b) I leave my cottage at Ambleside to my friend Seth Butcher trusting that he will see to it that my old friends, not mentioned in this will, whom he considers deserving shall have the contents of the wine cellar.

(c) I leave 500,000 £10 nominal value shares in Conqueror plc to my trustees to be divided amongst my colleagues in such amount as my trustees in their absolute discretion shall determine, save that my dear old friends and colleagues William McTavish and John Pratt shall each receive at least 10,000 shares each. At the time of his death, Eggbert held 750,000 shares of that class in Conqueror plc.

(d) £450,000 and a parcel of land Greenacre valued at £300,000 to erect and maintain a temple to the Goddess Diana to be open to the public.

(e) My collection of Ming Dynasty ceramics I leave to my nephews John and Peter, the latter having first choice as to which half in value he desires, subject to my colleagues in the Lunecaster Law School having the right to purchase one piece each at the nominal value of £10 as a memento of our working together.



(f) My houses in Peston are to be given one each to my grandchildren and then to John Jones, Gareth Grumple, Elaine Smith and Annabel Armstrong.



(g) The sum of £2.75 million to my trustees for the maintenance of my

invalid sister Elizabeth Whalley and for the training of my son Christopher up to university grade.



(h) My trustees shall invest half of any monies held by them under this my will in what they consider to be, blue chip securities, and the rest are to be invested in accordance with their powers of investment under the Trustee Act 2000.



4. I give the residue of my estate to my nieces Linda and Susan in equal shares absolutely, hoping that they will keep the bulk of it for their children and donate the rest to the RSPCA animal home in Lunecaster.’



Eggbert has seven grandchildren at the time of his death and owned 18 houses in Peston. William McTavish and John Pratt are both lecturers in Lunecaster Law School where Eggbert lectured for 17 years after a successful 20 year career at the Bar. The least valuable Chinese ceramic is worth £250 whilst the most valuable a rare early Ming Dynasty vase is valued at circa £380,000 plus.
Last edited by Bitesizelaw; 1 year ago
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