Equity and Trust: Analysis of a Will's Provisions and Clauses

This report provides a comprehensive analysis of a will, examining various provisions within the context of equity and trust law. It explores the concepts of precatory trusts, discretionary trusts, and the implications of specific clauses, such as those related to shareholdings, wine bottles, and educational funds. The report delves into relevant case law, including Boyce v Boyce and the Benjamin order, to illustrate key legal principles. It addresses the roles of executors, trustees, and beneficiaries, and examines the distribution of assets based on the testator's intentions. The analysis covers different scenarios, including gifts to partners, friends, and the testator's son, highlighting the legal requirements and potential outcomes of each provision. The report concludes by emphasizing the importance of equity and trust law in the formation and execution of wills, and provides a detailed overview of the legal framework governing the distribution of assets after death.

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

be continued by Zain and Habiba who has been continuing since longer time period. To continue
there are certain terms and condition which is to be met and they are discussed below:
 It is necessary that the real owner must grant the power to continue for future period of
time.
 If there are other partners in the will then their willingness must be obtained in this
particular case (Quigley and Sinquefield, 2016).
 The executor must have the knowledge about past and present situation.
Looking at the requirement of the law, it can be clearly seen that all of the conditions are
satisfied which can easily allow the executor to continue with Lisa as well in future time period.
While talking about the trust, it is a kind of irrevocable form of trust which cannot be further
change in any of the situation because of the formation of the will (Common Types of Trusts,
2018). This types of trust are mainly formed so that future planning can be done according to the
previous owner of the property or share.
4) Six bottles from the content of my wine celler to Roseline, the rest to Natalie.
In this particular case, Roseline went to another country without take his part of interest.
According to the will, it has been clearly mentioned that out of total number of wine, it is the
rights of Rosleine to take six bottle of wine with her and the remaining bottle must be given to
Natalie. One of the Famous case between Boyce v Boyce 1849 where it was decided that Marie
should get one of the house of her of own willingness. But looking at the situation of the case, it
was found that Marie died before selecting the house of her own willingness (BOYCE V
BOYCE (1849) 60 ER 959, 2015). So the judges of this particular case decided that that the
bequest to Charlotte failed since there could be no certainty as to which house should be held on
trust for her. So, both properties were therefore held on resulting trust for the testator’s heirs, his
grandson.
But, in this respective case it was found that the Roseline and Natalie, both were alive so
it becomes the responsibility of Natalie to give six bottle of wine to Roseline whenever she
retunes to the nation. It is because the formation of will directly indicates that out of total number
of wine she is given to Roseline and rest of them will be of Natalie. While talking about the
Benamin order, it is one of the English case where court has passe the order that whenever there
is the requirement of giving the judgement in any of the case. The distribution of an assets on a

death when it is uncertain because it is unknown that beneficiary owner is alive or not. It was one
of the order which has been derived in the name from the case of Benjamin in the year 1902.
In short, after have the analysis on both the case, it is very certain that wine is to be given
to Roseline but it is also necessary to identify that whether the beneficiary owner is alive or not
inn current situation (McDonald and Street, 2018). As per the given case study, it can be clearly
identified that the beneficial owner in this respective case is alive and even he is entitled to have
the six bottle of wine once she returns back from Africa.
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
A discretionary trust is indeed a trust that is being established for both the gain of some
or even more beneficiary, however it allows the holder absolute control as to how and what the
recipients obtain the assets (Fisher, 2017). The trusts beneficiaries had no access to a security,
and neither are the assets considered to be representative of the properties of the beneficiary. A
discretionary investment is unique except that the recipient is unable at any point to request or
seek money from the investment. Funds distribution is solely at both the Trustee's control. It has
the benefit of shielding applicants who may not have been able to choose the resources carefully.
This also offers insurance against investors who can't add the resources of the securities funds.
Profit funds are ideal for cases where the recipients are either young, elderly, mentally unstable,
reckless, workaholic, gambling addicts or in debt or ruined.
It is necessary to understand as per the will prepared by Sajid in which it was written that he is
interested to give £100,000 to Kiran and Haseeb. The main purpose of giving this much huge
amount is simple as he has done the promising to pay the student of Bradford College student
who is capable in the field of LLB (Lau, 2019). This types of promise are establishing where
trustee always provide the fund to those students who are capable in their field and even who can
show potential to attain the goals. So, for the purpose of establishing the student Kiran and
Haseen as a trustee can easily take the help of university where they can determine about
requirement of those student who is capable of performing good in the field of law but still he or
she is not financially strong. This types of decisions are mainly taken because it simply allows to
utilise the fund in best possible manner through which target of will can be completed. Here,
trustee is just the care taker of the property and in any of the state they are not allow to utilise the

fund for personal benefit as that will be the against off will which has been formed by Sajid
when he was alive.
6) The residue of my estate to dearest son Ryan
Trust law is wider in itself where formation of will is always based on the clause and sub-
clause which are included in it. It is necessary to understand that whenever any of the of person
prepare the will, even after his death the order must be followed according which has been
mentioned within the will (Coetzee, de Villiers and Nel, 2018). Looking at the scenario of the
case, the formation of will was based on different trust who so even can enjoy different rights.
But, there was the inclusion of one of the important clause. That respective clause indicates that
if any of the trustee dies in any of the circumstance then all of his or her part of property or share
which has been transferred by Sajid will be given back to Ryan who is the son of Sajid. It means
other trustee can enjoy the rights of shares which has been given to him but in any of the
circumstances they are not allowed to sell the property because of the process of formation
which has been used in it. This clause has been included as per the guidelines of Residue where
will is given back to the one whenever he is she dies. One of the relevant case which can be
included in this respective stage is Alexius Jacob Rebello vs Alfred Camillo Rebello on 13
March, 1951 is one of the popular case which has taken place within Bombay High Court. In
this, it was found that will was written were if trustee dies and property will be retransferred to
beneficiary owner (Alexius Jacob Rebello vs Alfred Camillo Rebello on 13 March, 1951). In the
above case, similar form of situation has been created which can easily grant that Ryan can be
the owner of that part of property were any of the owner dies.
CONCLUSION
Form the above discussed file, it can be clearly state that equity and trust law are one of the
important law which plays crucial role at the time of formation will. It is the law which simply
gives the power to the owner to decide that to whom they are willing to give certain part of their
property. There are some of the past cases which can be simply beneficial for the purpose of
declaring decision because that can play the supportive role at the tie of preparing the will.

REFERENCES
Books & Journals
Virgo, G., 2018. The Principles of Equity & Trusts. Oxford University Press.
Quigley, G. and Sinquefield, R. A., 2016. Performance of UK Equity Unit Trusts. In Asset
Management (pp. 9-35). Palgrave Macmillan, Cham.
McDonald, I. and Street, A., 2018. Equity & Trusts Concentrate: Law Revision and Study Guide.
Oxford University Press.
Lau, J., 2019. Equity and trusts: Text, cases and materials [Book Review]. Singapore Journal of
Legal Studies, (Sep 2019), p.491.
Coetzee, R., de Villiers, J. and Nel, D., 2018. Active share, tracking error, and the cost of active
management: South African general equity unit trusts. Management Dynamics: Journal
of the Southern African Institute for Management Scientists, 27(3), pp.2-13.
Fisher, J. C., 2017. Alastair Hudson, Equity and Trusts. The Law Teacher, 51(1), pp.104-105.
Online
Common Types of Trusts. 2018. [Online]. Available Through:
<https://estate.findlaw.com/trusts/types-of-trusts.html>
Alexius Jacob Rebello vs Alfred Camillo Rebello on 13 March, 1951. [Online]. Available
Through: <https://indiankanoon.org/doc/1780492/?type=print>
BOYCE V BOYCE (1849) 60 ER 959. 2015. [Online]. Available Through:
<https://digestiblenotes.com/law/trusts_cases/certainty_of_subject_matter.php>