Royal Bank of Canada re Williams Jersey 1994 Trust [2002] JRC 244 (20 December 2002)

Royal Bank of Canada re Williams Jersey 1994 Trust [2002] JRC 244 (20 December 2002)

The court found clear evidence that the settlor intended to be irrevocably excluded as a beneficiary, but the deed failed to reflect this due to error. Full disclosure was made and no alternative remedy existed. Rectification was therefore granted to exclude the settlor from benefit.

Citation
[2002] JRC 244
Parties
Settlor: Dr Ivor Williams; Trustee: Trustee; Representative of Minor, Unborn and Unascertained Beneficiaries and the Named Charity: Advocate Lakeman
Jurisdiction
Jersey
Judgment Date
20 December 2002
Procedural Posture
Application for Rectification of Trust Deed / Judgment
Outcome
Application for rectification granted
Legal Topics
Rectification of Trust Deed, Settlor Exclusion, Tax Consequences of Trust Drafting Errors
Trusts and Estates Rectification of Trust Deed Settlor Exclusion Tax Consequences of Trust Drafting Errors

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Parties

Dr Ivor Williams

Settlor

Trustee

Trustee

Advocate Lakeman

Representative of Minor, Unborn and Unascertained Beneficiaries and the Named Charity

Procedural Posture

Application for Rectification of Trust Deed / Judgment

Legal Issues

  1. 1 Whether the trust deed should be rectified to irrevocably exclude the settlor as a beneficiary in accordance with his original intention

Ratio Decidendi

The court found clear evidence that the settlor intended to be irrevocably excluded as a beneficiary, but the deed failed to reflect this due to error. Full disclosure was made and no alternative remedy existed. Rectification was therefore granted to exclude the settlor from benefit.

Court Disposition

Application for rectification granted

Orders

  • Trust deed rectified by adding clause A4a excluding the settlor from any benefit under the trust