Court of Appeal case provides guidance for trustees when issues of trust construction arise
Facts A settlor set up two family trusts. One trust was created primarily for the benefit of his surviving spouse (Trust One) and the other was created primarily for the benefit of his two daughters (Trust Two). Sadly, one of his daughters passed away. This triggered a clause in the trust instrument for Trust Two which stated that, upon the daughter's death: The Trustees shall transfer her share of the Trust Fund as determined under clause 7.2… as to one half to the [Trust One], and the other half to the surviving Daughter's share of this trust fund. The unfortunate issue facing the trustee...
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