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Analysis of Trust Law Case - Coursework Example

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The author of the "Analysis of Trust Law Case" paper examines the disposition of  interests under Sally’s father’s will and under the trust agreement over the race horse, the loan agreement, the shares in rags for Rumania ltd, and the residue estate…
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Analysis of Trust Law Case
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Download file to see previous pages Once the court is satisfied that the “declarant had the requisite intention it will strive to validate it.”3 Certainty of intention will therefore be the most important element for determining whether or not the letter constitutes an enforcable trust.

Assuming that the trust held by the trustees under the father’s will trust in favor of Sally and the trust agreement in respect of the horse are valid trusts the question of cetainties are not valid except to the extent that a new trust is created in favor of Sally’s children and thereby extinguishing the previous trusts. This is particularly so with respect to the will trust. The trust agreement over the horse only involves the disposition of a beneficial interest from one beneficiarie to others. The interests under the will trust is also an appointment of a new trustee and the removal of existing trustees since Tony is now being asked by Sally to administer the trust property under the will. In this sense, the previous trust in favor of Sally is revoked by virtue of naming new beneficiaries and a new trustee. Sally as a beneficiary is not at liberty to revoke the existing trust and create a new one in favor of her children, or to appoint and remove trustees unless the same is already provided for in the original trust instruments.4 This is purportedly what she did in the letter to Tony. Assuming that Sally is authorized under the trusts to reassign the beneficial interest and the legal title, the three certainties will be determined by reference to the new trust.

The question then turns on whether or not the letter to Tony constitutes a rovocation of the existing trust and the creation of a new trust. These kinds of transactions represent a disposition of both a legal and equitable interest and therefore Section 53(1)(c) of the Law of Property Act 1925 will apply.5 On the face of the letter Sally is providing written evidence of a transfer of an existing beneficial interest. ...Download file to see next pagesRead More
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Analysis of Trust Law Case Coursework Example | Topics and Well Written Essays - 1750 Words.
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