2 Jun 2020
EDGE v BOURKE [2020] NZHC 1185
- Citation
- [2020] 3 NZLR 522
- Court
- High Court
Clause 2 is an orthodox per stirpes direction: 'according to the stocks and not the number of individuals' gives the term its ordinary meaning, which includes that grandchildren do not take in competition with a living parent. There is no explicit language in clause 2 displacing that element, and the settlor's memoranda of wishes corroborate the preference for children over grandchildren; therefore the trust fund is to be divided equally between the settlor's children to the exclusion of grandchildren while those children are alive.