Freddie is the settlor who made his own will and appointed Chloe, as the sole trustee of his will. It is crucial to define what a trust is. “A trust is a relationship which arises when property is vested in a person/s called the trustees, which those trustees are obliged to hold for the benefit of other persons called the beneficiaries” There are two kinds of trusts. i) Fixed trust- the interest of the beneficiary is fixed and clearly identifiable. ii) Discretionary trust- the trustee has discretion as to who will be a beneficiary.
The three certainties apply here as this trust is not charitable. Lord Langdale laid these out in Knight case . These are certainty of intention to create a trust, subject matter of trust, and objects of trust. The subject matter seems to be antique silverware and the objects are Graham, Chloe and the nieces.
The silver plates for Graham and the collection for Chloe are meant to be gifts by Freddie. So it’s evident that there is a fixed trust for Graham and a discretionary trust for Chloe where she has the discretion to share the collection amongst Freddie’s nieces.
The certainty of intention to create a trust must be looked at. The …show more content…
This is intended to be an express trust so three certainties will apply here. Wigston Football Club is an unincorporated association similar to the Horley Town Football Club . There is certainty of intention to create a trust, as the words are imperative leaving no room for doubts. The subject matter happens to be £25,000 and a separate £10,000, each to be used by the club for different purposes. The issue arises with the certainty of objects. Non-charitable trusts are likely to be void unless the trust has a person who can enforce the performance of it. In Re Astor’s , it was held that the trust was void as it was for non-charitable purposes and there was no one who could enforce it. So, rules of beneficiary principle must be established, which pertain to certainty and identifiable
The three certainties apply here as this trust is not charitable. Lord Langdale laid these out in Knight case . These are certainty of intention to create a trust, subject matter of trust, and objects of trust. The subject matter seems to be antique silverware and the objects are Graham, Chloe and the nieces.
The silver plates for Graham and the collection for Chloe are meant to be gifts by Freddie. So it’s evident that there is a fixed trust for Graham and a discretionary trust for Chloe where she has the discretion to share the collection amongst Freddie’s nieces.
The certainty of intention to create a trust must be looked at. The …show more content…
This is intended to be an express trust so three certainties will apply here. Wigston Football Club is an unincorporated association similar to the Horley Town Football Club . There is certainty of intention to create a trust, as the words are imperative leaving no room for doubts. The subject matter happens to be £25,000 and a separate £10,000, each to be used by the club for different purposes. The issue arises with the certainty of objects. Non-charitable trusts are likely to be void unless the trust has a person who can enforce the performance of it. In Re Astor’s , it was held that the trust was void as it was for non-charitable purposes and there was no one who could enforce it. So, rules of beneficiary principle must be established, which pertain to certainty and identifiable