Steel and Others (Robertson's Trustees) v. Robertson [1910] ScotLR 839 (14 July 1910)

Steel and Others (Robertson's Trustees) v. Robertson [1910] ScotLR 839 (14 July 1910)

The trustees are entitled to set aside sufficient capital to secure the widow's liferent in one-third of the income, and may pay out the remaining capital to beneficiaries as directed by the will and codicil. One-half of the son's share vested at age twenty-one, with payment of half postponed to age twenty-six by the codicil. The widow's liferent does not require retention of the entire estate, only so much as is necessary to secure her interest.

Citation
[1910] ScotLR 839
Parties
First Parties: James Steel and others, testamentary trustees of Samuel Robertson; Second Party: Mrs Isabella Stephenson or Robertson; Third Party: Samuel Herbert Robertson; Fourth Parties: Mrs Hilda Robertson or Black and Miss Cecil Robertson
Jurisdiction
Scotland
Judgment Date
14 July 1910
Procedural Posture
Special Case (court of Session, Scotland) / Inner House, First Division, Final Judgment
Outcome
First and third questions of law answered in the affirmative; second question answered in the negative.
Legal Topics
Testamentary Construction, Vesting of Interests, Liferent (life Interest), Advancement of Capital, Codicil Interpretation
Succession Trusts and Estates Testamentary Construction Vesting of Interests Liferent (life Interest) Advancement of Capital Codicil Interpretation

Case Brief

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Parties

James Steel and others, testamentary trustees of Samuel Robertson

First Parties

Mrs Isabella Stephenson or Robertson

Second Party

Samuel Herbert Robertson

Third Party

Mrs Hilda Robertson or Black and Miss Cecil Robertson

Fourth Parties

Procedural Posture

Special Case (court of Session, Scotland) / Inner House, First Division, Final Judgment

Legal Issues

  1. 1 Whether trustees must retain the whole estate to secure the widow's liferent or may pay capital to beneficiaries during her life
  2. 2 Whether one-half of the son's share vested at age twenty-one despite codicil postponing payment
  3. 3 Proper construction of 'one-third part of the annual income of the residue'

Ratio Decidendi

The trustees are entitled to set aside sufficient capital to secure the widow's liferent in one-third of the income, and may pay out the remaining capital to beneficiaries as directed by the will and codicil. One-half of the son's share vested at age twenty-one, with payment of half postponed to age twenty-six by the codicil. The widow's liferent does not require retention of the entire estate, only so much as is necessary to secure her interest.

Court Disposition

First and third questions of law answered in the affirmative; second question answered in the negative.

Orders

  • Trustees may set aside sufficient capital to secure the widow's liferent and pay out the remainder to beneficiaries as directed.
  • One-half of the son's share vested at age twenty-one, with payment of half postponed to age twenty-six.