Steed, Re [1960] EWCA Civ 2 (26 January 1960)

Steed, Re [1960] EWCA Civ 2 (26 January 1960)

Court refused to override trustees' discretion as they acted properly and in accordance with the testator's intentions; court declined to approve variation of trust as it would defeat the purpose of the protective trusts and the testator's scheme.

Citation
[1960] EWCA Civ 2
Parties
Appellant: Gladys Louise Sandford; Respondents: Joshua Owen Steed's Trustees
Jurisdiction
England and Wales
Judgment Date
26 January 1960
Procedural Posture
Appeal / Judgment
Outcome
appeal dismissed
Legal Topics
Variation of Trusts, Trustee Discretion, Protective Trusts
Trusts Equity Variation of Trusts Trustee Discretion Protective Trusts

Case Brief

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Parties

Gladys Louise Sandford

Appellant

Joshua Owen Steed's Trustees

Respondents

Procedural Posture

Appeal / Judgment

Legal Issues

  1. 1 Should the court override trustees' discretion to sell trust property?
  2. 2 Should the court approve a variation of trust under the Variation of Trusts Act, 1958, to remove protective trusts and grant absolute entitlement to the appellant?

Ratio Decidendi

Court refused to override trustees' discretion as they acted properly and in accordance with the testator's intentions; court declined to approve variation of trust as it would defeat the purpose of the protective trusts and the testator's scheme.

Court Disposition

appeal dismissed

Orders

  • No order as to appellant's costs except taxation under Schedule III to the Legal Aid and Advice Act, 1949, as between solicitor and client.
  • Trustees' proper costs to be paid out of the corpus of the trust.