In the matter of The A Trust [2012] JRC 066 (26 March 2012)

In the matter of The A Trust [2012] JRC 066 (26 March 2012)

The Court found that the settlors intended The A Trust to be inter-generational, with assets cascading to future generations, and that the trustee's decision to add the remoter issue as beneficiaries was consistent with those wishes and the trust's purpose. The trustee was properly informed, acted in good faith, and was not unfit to act. The Court therefore blessed the trustee's decision to widen the class of beneficiaries.

Citation
[2012] JRC 066
Parties
Representor: Investec Trustees (Jersey) Limited; Respondents: The siblings (four children of the settlors); Protector/respondent: John Kidd
Jurisdiction
Jersey
Judgment Date
26 March 2012
Procedural Posture
Trust Administrative Application / Application for Court Blessing of Trustee Decision
Outcome
Application granted; trustee's decision blessed
Legal Topics
Variation of Trusts, Addition of Beneficiaries, Trustee Powers, Blessing of Trustee Decisions, Settlor's Wishes
Trusts Equity Variation of Trusts Addition of Beneficiaries Trustee Powers Blessing of Trustee Decisions Settlor's Wishes

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Parties

Investec Trustees (Jersey) Limited

Representor

The siblings (four children of the settlors)

Respondents

John Kidd

Protector/respondent

Procedural Posture

Trust Administrative Application / Application for Court Blessing of Trustee Decision

Legal Issues

  1. 1 Whether the trustee's decision to widen the class of beneficiaries of The A Trust to include the remoter issue of the settlors should be blessed by the Court
  2. 2 Whether the wishes of the settlors support an inter-generational trust
  3. 3 Whether the trustee acted properly and was sufficiently informed in making its decision

Ratio Decidendi

The Court found that the settlors intended The A Trust to be inter-generational, with assets cascading to future generations, and that the trustee's decision to add the remoter issue as beneficiaries was consistent with those wishes and the trust's purpose. The trustee was properly informed, acted in good faith, and was not unfit to act. The Court therefore blessed the trustee's decision to widen the class of beneficiaries.

Court Disposition

Application granted; trustee's decision blessed

Orders

  • The Court blesses the decision of Investec Trustees (Jersey) Limited to widen the class of beneficiaries of The A Trust to include the remoter issue of the settlors.
  • Costs of the application to be paid out of the trust fund.