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persons/purposes that could be the object of an appointment. Restricting to the terms of trust, their fiduciary duties and, where appropriate, the statutory duty of care, trustees can run the trusts as they deem fit. [43] But if the gift were given to a wide class of people for a charitable purpose, it will be valid.[44]. A more recent case is Protheroe v Protheroe [1968] WLR 519 where the husband, a joint owner with his wife of a leasehold property, purchased the freehold reversion; it was held that because he was a trustee the freehold reversion became subject of the trust although the husband was entitled to recoup the expense of the purchase. the power to appoint new trustees. AB was a professional trustee of two discretionary trusts created by the late parents of D1, a Will Trust for the benefit of their issue, and a Grandchildren 's Trust for the benefit of their grandchildren (i.e. PDF Discretionary Trusts and Powers of Appointmejw : Progressive Assimilation Therefore, the question was one of conceptual rather than evidential uncertainty. Accordingly, the trustees may not release their discretion and if they refuse to exercise their discretion the court will intervene. Discretionary Trust: Trust where the trustees have the discretion to choose which, of a defined class or group, they choose to apply the income or property of the trust to. trailer In Re Hay's Settlement Trust,23 the court held that it would be prepared to hold that an intermediate trust (one excluding certain specified individuals, and including everyone else) would be administratively unworkable because the a trustee's obligations in relation to a discretionary trust are more stringent than for a power of appointment: as Prior to its abolition, the period of accumulation was determined by reference to a number of statutory provisions. thought fit for 21 years after the death of the last survivor of the settlor's nieces and nephews The exception to this rule is found in Hunter v Moss,[19] which concerned 50 shares meant to be transferred to an employee out of a total holding of 950. However, Lord Wilberforce ruled that the operative question in such cases was one of whether a court could say with certainty that a given individual was a member of a class: on the facts, this was satisfied, and the arrangement was enforced by the court.
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re hay's settlement trust case summary