An application was made to vary the terms of a trust in favour of children.
Held: The court was ready to receive evidence from a mother whose children were due to become entitled to funds at the age of 21 that she believed it most important that young people should be reasonably advanced in a career and settled in life before they were in receipt of an income sufficient to make them independent of the need to work. Megarry J, ‘speaking in general terms’ fully concurred, and approved an arrangement which postponed vesting of their interests.
References:  1 Ch 100
Judges: Megarry J
Jurisdiction: England and Wales
This case is cited by:
- Cited – Goulding and Goulding v James and Daniel CA 10-Dec-1996
The family sought approval of a proposed variation of the will to make best advantage of tax allowances. Because the beneficial interests of children would be affected, the court’s approval was necessary. The judge had refused to approve the . .
(Times 07-Feb-97, ,  EWCA Civ 1156,  2 All ER 239)
- Cited – Wright and Another v Gater and Others ChD 7-Nov-2011
The beneficiary, a child was to inherit estates of his grandparents and parents, all of which were intestate. An application was made to vary the provisions in order to reduce the liability to Inheritance Tax.
Held: A deferment of vesting . .
(,  EWHC 2881 (Ch), 14 ITELR 603,  1 WLR 802,  STC 255,  STI 3431,  WTLR 549)
These lists may be incomplete.
Last Update: 27 November 2020; Ref: scu.241670