Equity and Trust: Understanding the Formation of Wills and Trusts

Equity and Trust

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
1) £50000 to my partner Sofie in the hope and full confidence that she will look after the
financial wellbeing of my sister Sani...........................................................................................3
3) My Shareholding in Lister Ltd to my executors, Zain and Habiba to hold on trust for my
fried Lisa......................................................................................................................................3
4) Six bottles from the content of my wine celler to Roseline, the rest to Natalie......................4
5) £100,000 to my friends Kiran and Haseeb as trustees with absolute discretion to make
payment of capital or income to highly promising Bradford College Students of LLB.............5
6) The residue of my estate to dearest son Ryan.........................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Equity simply means essential fairness which is based on the rules and regulations formed
by the Legislation. On the other side, trust law can be defined as the law which explains about set
of rules and regulation that has been commenced for the purpose of regulating the situation under
which one person can be placed on behalf of another to look after day to day affairs. In context
of the file, various cases will be discussed in which it will be majorly focused that how any of the
situation is required to dealt as per the given case scenario.
MAIN BODY
1) £50000 to my partner Sofie in the hope and full confidence that she will look after the
financial wellbeing of my sister Sani.
Discussing about the precatory trust, it can be explained as the trust which is formed on
the basis of language. Here, person intention is clear about the future time being. In simple
words, it is just a willingness of a person within the will which he or she is going to prepare. By
looking at the scenario, it was found that the main reason behind the formation of law is very
simple i.e., some of the gangster were willing to kill Sajid and looking at the situation he is
willing to give some part of the will to Sofie so that she can easily take her care once he dies
(Virgo, 2018). The intention was very clear that her sister must not be suffered from any of the
problem and that is the main reason that Sajid wants to give £50000 to his partner Sofie. It is one
of the form of Totten trust under which a person transfers the fund to another grantor where they
are need to provide to the one for whom it has been written. It is essential to understand that this
types of gift are given mainly in that respective situation where the real owner dies. Here,
property is transferred as a joint owner but benefits are always provided to the one who has been
assigned as the owner of the property once the real owner dies. In short, it is one of the Totten
trust under which Sani will enjoy the right of £50000 with the help of partner named Sofie.
3) My Shareholding in Lister Ltd to my executors, Zain and Habiba to hold on trust for my fried
Lisa
While talking about the Trust Act 2000, it can be simply explained as the law where
rights and power is to be formed to an individual. In context of the given case study it can be
explained that Sajid during his last breath, willing to transfer the will to his friend Lisa.
Although, h is willing to transfer the willing to Lisa but still he wants that executor of will must