In re B Life Interest v [2013] 1 JLR 1 (12 December 2012)

In re B Life Interest v [2013] 1 JLR 1 (12 December 2012)

The appointment of trust assets was not set aside because, although the trustee was mistaken as to the settlor's good health and failed to obtain life insurance, it was not unjust for the donees, who were aware of the settlor's health problems, to retain the property.

Citation
[2013] 1 JLR 1
Parties
Applicant: B Life Interest; Respondent: Unknown Donees
Jurisdiction
Jersey
Judgment Date
12 December 2012
Procedural Posture
Trusts / Judgment
Outcome
Application to set aside transaction dismissed
Legal Topics
Mistake by Trustee, Setting Aside Transactions, Inheritance Tax Liability
Trusts Mistake by Trustee Setting Aside Transactions Inheritance Tax Liability

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

B Life Interest

Applicant

Unknown Donees

Respondent

Procedural Posture

Trusts / Judgment

Legal Issues

  1. 1 Whether a trustee's mistaken belief regarding the settlor's health and failure to obtain life insurance justifies setting aside an appointment of trust assets that incurred substantial inheritance tax liability.

Ratio Decidendi

The appointment of trust assets was not set aside because, although the trustee was mistaken as to the settlor's good health and failed to obtain life insurance, it was not unjust for the donees, who were aware of the settlor's health problems, to retain the property.

Court Disposition

Application to set aside transaction dismissed