Final Client Legal Advice for Desklib Online Library

Final Client Legal Advice

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1...................................................................................................................................................3
2...................................................................................................................................................5
3...................................................................................................................................................6
4...................................................................................................................................................8
CONCLUSION................................................................................................................................9

INTRODUCTION
Legal advice refers to the providing of the professional opinion on the procedure
of the law related to the particular situations. The professionals providing legal advice
involves analysis of facts and advices to take particular legal action based on the law.
The case revolves around the will of Rex Lear who has made a will prior his
death. He had invested in trust which was suppose to go to the relatives each years as
selected by the elder daughter. However no selection is made till yet. In the will money
was allowed only to be invested in government bonds or securities however, both the
younger daughters invested it in the private securities. Rex also let Edmund hold his
shares in a public company but Edmund spend all the money on his personal expenses.
The report will aim to focus on proving legal advice to Cordelia on various questions
regarding the claims and management of all the money of Rex.
MAIN BODY
1.
Gonerial and Regan have to return all the funds to the Lear family Trust to her
father’s state. This is because the trust was supposed to provide money to all the
relatives and family as decided by Cordelia. In England the equitable interest is vested
which means a retains no equitable interest at all when equitable party has vested in B.
the Act also states that the subject matter of declaration in writing is necessary. Rex had
made the trust deed as the income from trust shall be distributed to the relatives and
friends as Cordelia selects. It also stated that the money shall be invested in fixed
securities only but Goneril and Regan breached the trust deed by investing in stock
market. This leads to breach in fiduciary duties by Goneril and Regan as trustees of the
trust.
From the above mentioned directions, Cordelia can take any direction as it is up-to
her to make selections according to the will of her father. The others cannot perform any
other duty without prior informing to her. The Fiduciary duties are declared as
prospective which means the fiduciary cannot make any unauthorized profit from their
fiduciary position.
In the case Rex clearly mentioned in the trust's will that the money cannot be invested in
any of the other securities rather than the government bonds and the securities.