Allfrey v Allfrey & Ors

Allfrey v Allfrey & Ors

The arrangement approved under the Variation of Trusts Act 1958 constitutes a variation of the existing Settlement, not a resettlement, as the substratum, trustees, and administrative powers remain unchanged and the beneficial interests are not exhausted.

Parties
Claimant: Martha Virginia Allfrey; Defendant: Jack Merlin Samuel Allfrey; Defendant: William Jude Allfrey; Defendant: Stanley Adrian Allfrey; Defendant: Frank Peter Allfrey; Defendant: Rose Susanna Allfrey; Defendant: Merlin Bingham Swire; Defendant: Anna Carlin Swire; Defendant: Samuel Compton Swire; Defendant: Sir Adrian Christopher Swire; Defendant: Lady Judith Swire
Jurisdiction
England and Wales
Judgment Date
23 June 2015
Procedural Posture
Variation of Trusts / Judgment
Outcome
arrangement approved as a variation, not a resettlement
Legal Topics
Variation of Trusts, Resettlement, Inheritance Tax, Perpetuity Period
Trusts Taxation Variation of Trusts Resettlement Inheritance Tax Perpetuity Period

Case Brief

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Parties

Martha Virginia Allfrey

Claimant

Jack Merlin Samuel Allfrey

Defendant

William Jude Allfrey

Defendant

Stanley Adrian Allfrey

Defendant

Frank Peter Allfrey

Defendant

Rose Susanna Allfrey

Defendant

Merlin Bingham Swire

Defendant

Anna Carlin Swire

Defendant

Samuel Compton Swire

Defendant

Sir Adrian Christopher Swire

Defendant

Lady Judith Swire

Defendant

Procedural Posture

Variation of Trusts / Judgment

Legal Issues

  1. 1 Does the arrangement for variation of the trust constitute a resettlement?
  2. 2 Is the court's approval under the Variation of Trusts Act 1958 valid for the proposed arrangement?

Ratio Decidendi

The arrangement approved under the Variation of Trusts Act 1958 constitutes a variation of the existing Settlement, not a resettlement, as the substratum, trustees, and administrative powers remain unchanged and the beneficial interests are not exhausted.

Court Disposition

arrangement approved as a variation, not a resettlement

Orders

  • Arrangement for variation of trusts approved under s1 of the Variation of Trusts Act 1958.
  • Trust period extended and power to accumulate income incorporated.