EQUITY & TRUSTS

EQUITY & TRUSTS

PART A
1)    Elias died last week. He was a doctor and during his lifetime, had amassed a fortune as a documentary maker. He left the following legacy:

a)    It is my request that £200,000 is to go to my partner Scathach to be at her disposal in any way she may think best. Particular regard must be had for the distribution of such minimal parts of it, to my youngest son Ambrose. The remaining part of what is left she might consider giving to my other two children, Matt and Lee but, she may also decide to treat herself to a round-the-world cruise instead.

b)    I leave 950 of my 1000 shares in Roanoke Productions Ltd to my trustee Thomasin to hold on trust for Shelby. The dividends from those shares shall provide a reasonable income to any of the residents of Roanoke Island as Thomasin may select. As the oldest Roanoke resident, Thomasin is able to resolve any dispute about who is a resident.

c)    The residue of the estate is to be sold and the proceeds divided between providing a useful memorial to myself which is to be maintained so far as they can legally do so. The other half is to go to the Roanoke Wicca Association to assist in constructing a new Island Coven (a place of worship) as gratitude for all the support they have provided to my partner Scathach.

(You may assume that the Roanoke Wicca is an Unincorporated Association).

With reference to the Three Certainties and non-charitable purpose trusts, advise the parties as to the validity of these dispositions and whether they can enforce performance against Thomasin, the trustee.