In the matter of the R Trust [2015] JRC 267A (22 December 2015)

In the matter of the R Trust [2015] JRC 267A (22 December 2015)

The trustee's decision to appoint Mr B as a beneficiary and distribute the trust assets for the benefit of the minor children is lawful, made in good faith, reasonable, and free from conflict of interest. The Court approves the decision, subject to conditions ensuring the funds are transferred to Mrs B for the children's benefit and Mr B's written consent is obtained.

Citation
[2015] JRC 267A
Parties
Representor/trustee: EFG Trust Company Limited; Settlor/proposed Beneficiary: Mr B; Former Wife/recipient of Trust Assets: Mrs B; Minor Beneficiary: D; Minor Beneficiary: E
Jurisdiction
Jersey
Judgment Date
22 December 2015
Procedural Posture
Representation (trust Law) / Final Approval of Trustee's Decision
Outcome
Application approved with conditions.
Legal Topics
Discretionary Trusts, Beneficiary Appointment, Distribution of Trust Assets, Foreign Court Orders, Children's Welfare
Trust Law Family Law Discretionary Trusts Beneficiary Appointment Distribution of Trust Assets Foreign Court Orders Children's Welfare

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Parties

EFG Trust Company Limited

Representor/trustee

Mr B

Settlor/proposed Beneficiary

Mrs B

Former Wife/recipient of Trust Assets

D

Minor Beneficiary

E

Minor Beneficiary

Procedural Posture

Representation (trust Law) / Final Approval of Trustee's Decision

Legal Issues

  1. 1 Whether the trustee's decision to appoint Mr B as beneficiary and distribute trust assets for the benefit of minor children should be approved
  2. 2 Whether the trustee's decision is consistent with the interests of the beneficiaries and complies with Jersey law

Ratio Decidendi

The trustee's decision to appoint Mr B as a beneficiary and distribute the trust assets for the benefit of the minor children is lawful, made in good faith, reasonable, and free from conflict of interest. The Court approves the decision, subject to conditions ensuring the funds are transferred to Mrs B for the children's benefit and Mr B's written consent is obtained.

Court Disposition

Application approved with conditions.

Orders

  • Approval of trustee's decision to appoint Mr B as beneficiary and distribute trust assets to him for onward transmission to Mrs B for the benefit of the minor beneficiaries.
  • Mrs B's fees for the application before this Court to be met out of the trust fund.