Bowack & Anor v Saxton

Bowack & Anor v Saxton

Valid and effective trusts of the two bonds were constituted at the time of their issue, with simultaneous valid assignments to the three trustees, despite omissions in the trust documents; rectification is unnecessary.

Parties
Claimant: Michael Hamilton Bowack; Claimant: Ann Jennifer Bowack; Defendant: Claire Vera Saxton
Jurisdiction
England and Wales
Judgment Date
01 May 2020
Procedural Posture
Civil / Judgment
Outcome
Declaration granted
Legal Topics
Constitution of Trusts, Assignment of Bonds, Rectification of Documents, Inheritance Tax Planning
Trusts Property Probate Constitution of Trusts Assignment of Bonds Rectification of Documents Inheritance Tax Planning

Case Brief

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Parties

Michael Hamilton Bowack

Claimant

Ann Jennifer Bowack

Claimant

Claire Vera Saxton

Defendant

Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 Whether valid and effective trusts of the two investment bonds were created
  2. 2 Whether assignments of the bonds to the trustees were valid
  3. 3 Whether omissions in the trust documents (effective date, bond numbers, witnessed signatures) affect validity

Ratio Decidendi

Valid and effective trusts of the two bonds were constituted at the time of their issue, with simultaneous valid assignments to the three trustees, despite omissions in the trust documents; rectification is unnecessary.

Court Disposition

Declaration granted

Orders

  • Declaration that valid and effective trusts of each of the two bonds were created at the time of their issue
  • Declaration that simultaneous valid and effective assignments of those bonds to the three trustees in each case occurred