Settlement trustees undertook to execte a deed appointing trust moneys to the settlor’s children. The beneficiaries were not content with the proposed deed, and the trustees sought directions.
Held: The undertaking was invalid as a fetter on the trustees’ discretion. As to the costs of the application, the costs of the trustees incurred before the dismssal were payable from the trust.
Judges:
Megarry J VC
Citations:
[1981] Ch 179, [1981] 2 WLR 1, [1981] 1 All ER 233
Jurisdiction:
England and Wales
Cited by:
Cited – Jones and others v Firkin-Flood ChD 17-Oct-2008
The trustees had contracted to sell shares in a private company held within the estate. A family member now claimed that they were held in trust after a settlement of a possible challenge to the will based in lack of testamentary capacity and undue . .
Lists of cited by and citing cases may be incomplete.
Trusts, Costs
Updated: 01 May 2022; Ref: scu.277069
